FOR IMMEDIATE RELEASE Contacts: Amy Reilly, Target Communications, (612) 761-6782 Target Media Hotline, (612) 696-3400 John Hulbert, Investor Relations, (612) 761-6627 Target Finalizes Real Estate Transaction with Selection of 84 Additional Zellers Leases MINNEAPOLIS (Sept. 23, 2011) — Target Corporation (NYSE: TGT) is pleased to announce today that it has finalized its real estate transaction with Zellers Inc. with the selection of 84 additional Zellers leases, bringing the total number of leases selected, including an initial group of 105 leases selected in May, to 189. From this second group, Target has acquired the leasehold interests for 29 locations, the vast majority of which will open as Target stores beginning in 2013. The remaining leases have been or will be sold to other Canadian retailers or back to landlords. “Target is excited to take another meaningful step toward our expansion in Canada,” said Tony Fisher, president, Target Canada. “We look forward to delivering a superior shopping experience for our guests throughout Canada and building on our strong reputation as a good neighbor and partner in the communities in which we do business.” Target announced in January that it would purchase, for C$1.825 billion, the leasehold interests of up to 220 sites currently operated by Zellers Inc., a subsidiary of Hudson’s Bay Company. In May, Target selected an initial group of 105 leases, spanning all 10 provinces, in conjunction with its first payment to Zellers Inc. The vast majority of those sites will become Target stores beginning in 2013. The 84 leases announced today are part of Target’s second and final selection, and include the 39 leases for which Target transferred the rights to Walmart, as announced in June. As part of its transaction with Walmart, Target acquired the lease for one of Walmart’s vacant properties, which will open as a Target store. A full list of the addresses included in Target’s second selection accompanies this release. Target plans to open 125 to 135 stores in Canada, the majority of which will open in 2013, beginning with the first cycle in March and continuing with four subsequent cycles later in the year. All selected sites that will become Target stores will be subleased to Zellers and will continue to operate as a Zellers store for some time. For locations that will become Target stores, the majority will be closed for at least six to nine months as they undergo significant remodeling prior to opening. On average, about $10 to $11 million will be invested in remodeling each location. Target plans to announce the locations of its March 2013 store openings in the coming months. Stores in subsequent opening cycles will be announced throughout 2012. Target is excited to build its talented and dedicated team in Canada. The company has already begun to hire team members for positions at its Mississauga headquarters location and Target looks forward to beginning the store hiring process in 2012. Each Target store in Canada will employ approximately 150 to 200 team members. Target will also engage with Zellers associates to make it easy for them to apply for jobs at Target. Canadians interested in working for Target are encouraged to visit Target.ca/careers to learn more about job opportunities and Target’s fun, collaborative work environment. Forward-Looking Statements The statements on the number and timing of Target store openings in Canada and the average investment in each location are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements speak only as of the date they are made and are subject to risks and uncertainties which could cause the company's actual results to differ materially. The most important risks and uncertainties include the risks described in the Risk Factors section of the company's Form 10-K for the fiscal year ended January 29, 2011. About Target Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,762 stores across the United States and at Target.com. The company will open its first stores in Canada in 2013. In addition, the company operates a credit card segment that offers branded proprietary credit card products. Since 1946, Target has given 5 percent of its income through community grants and programs; today, that giving equals more than $3 million a week. For more information about Target’s commitment to corporate responsibility, visit Target.com/hereforgood. For more information, visit Target.com/Pressroom. # # # List of Target’s second and final selection of 84 additional Zellers leases Includes potential Target stores and leases sold to other retailers or back to landlords Alberta (8) 1221 Canyon Meadows Drive S.E., Calgary, AB - Deer Valley 2225 Erin Mills Parkway, Mississauga, ON - Sheridan Mall Shopping Centre 1131 Dundas St. W., Mississauga, ON - Westdale Mall 110-3210 118th Ave., Edmonton, AB - Abbottsfield Shoppers Mall 1111 Davis Drive, Newmarket, ON - 404 Town Centre 87th Ave. & 156th St., Edmonton, AB - Meadowlark Shopping 700 Lawrence Ave. W., North York, ON - Lawrence Square Centre 1700 Wilson Ave., North York, ON - Sheridan Mall North York 9402 135th Ave. N.W., Edmonton, AB - Northgate Centre 1455 Rebecca St., Oakville, ON - Hopedale Mall 3931 Calgary Trail Southbound N.W., Edmonton, AB - South Park 1300 Kind St. E., Oshawa, ON - Kingsway Village Centre 419 King St. W., Oshawa, ON - Oshawa Centre 8882 170th St., Suite 1053, Edmonton, AB - West Edmonton Mall 156 Sparks St., Ottawa, ON- Heritage Place 13557 114th Ave. & Groat Road, Edmonton, AB - Westmount 950 Lansdowne St. W., Peterborough, ON - Parkway Centre Shopping Centre 1355 Kingston Road, Pickering, ON - Pickering Town Centre 3292 Dunmore Road S.E., Medicine Hat, AB - Medicine Hat Mall 50 Thermos Road, Scarborough, ON - Warden & Eglinton 3469 Lawrence Ave. E., Scarborough, ON - Cedarbrae Mall British Columbia (11) 293 Bay St., Sault Ste. Marie, ON - Station Mall 285 Geneva St., St. Catharines, ON - Fairview Mall 4567 Lougheed Highway, Burnaby, BC - Brentwood Mall 640 Queenston Road, Stoney Creek, ON - Queenston Place 11000 8th St., No. 1, Dawson Creek, BC - Dawson Mall 1020 Dawson Road, Thunder Bay, ON - County Fair Plaza 945 Columbia St. W., Kamloops, BC - Sahali Centre Mall 1101 West Arthur St., Thunder Bay, ON - Thunder Bay Mall 1876 Cooper Road, Kelowna, BC - Orchard Park Plaza 170 Broadway, Tillsonburg, ON - Tillsonburg Town Centre 2210 Main St., Suite 100, Penticton, BC - Penticton Power Centre 1000 Gerrart St., Toronto, ON - Gerrard Square 500 Second Ave. W., Prince Rupert, BC - Rupert Square 2290 Dundas St. W., Toronto, ON - Southside/Pond Mills Shopping 8311 Landsdowne Road, Richmond, BC - Landsdowne Centre Centre 1151 10th Ave. S.W., #400, Salmon Arm, BC - Piccadilly Place Mall 70 Bridgeport Road, Waterloo, ON - Zellers Centre 10151 King George Highway, Surrey, BC - Surrey Place/Central 800 Niagara St. N., Welland, ON - Seaway Mall City 1550 Huron Church Road, Windsor, ON - Ambassador Plaza 1175 Lynn Valley Road, Vancouver, BC – Lynn Valley Centre 1610 Hillside Ave., Victoria, BC - Hillside Shopping Centre Quebec (16) New Brunswick (3) 600 boul. Sir Wilfrid Laurier, Beloeil, QC - Montenach Mall 1180 Prospect St. E. Fredericton, NB - Uptown Centre 7200 boul. Taschereau (Local 21), Brossard, QC - Place Portabello 1380 Mountain Road, Moncton, NB - Northwest Centre 1324 boul. Talbot, Chicoutimi, QC - Place De Saguenay 651 Fairville Blvd., Saint John, NB - Lancaster Mall 920 boul. Maloney, Gatineau, QC - Les Galeries Gatineau 1055 boul. Firestone, Joliette, QC - Les Galeries Joliette 161 Route 230 Ouest, Bureau 400, La Pocatiere, QC - Les Galeries Newfoundland and Labrador (1) De La Pocatiere 470 Topsail Road, St. John's, NL - Zellers Plaza 2877 chemin Chambly, Longueuil, QC - Place Desormeaux 1700 rue Sherbrooke, Magog, QC - Les Galeries Orford Nova Scotia (6) 3121 rue Granby, Montreal, QC - Centre Commercial Domaine 142 S.Albion St., Amherst, NS - Amherst Centre 7275 rue Sherbrooke Est., Montreal, QC - Place Versailles 900 Cole Harbour Road, Dartmouth, NS - Colby Village Plaza Shopping Centre 1065 Central Ave., Greenwood, NS - Zellers Plaza 6700 chemin de la Côte-des-Neiges, Montreal, QC - Plaza Cote Des 194 Chain Lake Drive, Halifax, NS - Bayers Lake Power Centre Neiges 116 King St., North Sydney, NS - North Sydney Mall 101 boul. Cardinal-Leger, # 74, Pincourt, QC - Le Faubourg De I'lle Prince St., Sydney, NS - Sydney Shopping Centre 12655 rue Sherbrooke Est., Point-aux-Trembles, QC - Carrefour De La Pointe 940 13e Ave. Nord, Sherbrooke, QC - Galeries Quatres Saisons Ontario (36) 450 boul. Poliquin, Sorel, QC - Les Promenades De Sorel 60 Martindale Crescent, Ancaster, ON - Meadowland Power Centre 450 boul. Arthur Sauve, St. Eustache, QC - Carrefour St-Eustache 2383 Highway #2, Unit D, Bowmanville, ON - Clarington Town Centre 410 Fairview Drive, Brantford, ON- Brantford Centre Saskatchewan (3) Grand Ave. W. & Keil Drive Extension, Chatham, ON - Thames- 134 Primrose Drive, Saskatoon, SK - The Mall at Lawson Heights Lea Plaza 2325 Preston Ave., Saskatoon, SK - Market Mall 300 Guelph St., Georgetown, ON - Georgetown Market 255-277 Broadway St. E., Yorkton, SK - Parkland Mall 1980 Ogilvie Road, Unit 171, Gloucester, ON - Gloucester Centre 499 Mohawk Road E., Hamilton, ON - County Fair Plaza Location of former Walmart site acquired by Target 1550 Cameron St., Hawkesbury, ON - Hawkesbury Gateway 7190 Morrison St., Niagara Falls, ON Shopping Centre 245 Strasburgh Road, Kitchener, ON- Laurentian Power Centre 1005 Ottawa St. N., Kitchener, ON - Stanley Park Mall 600 Mitchell Road S., Listowel, ON - Listowel Carriage Shopping Centre 1275 Highbury Ave., London, ON - Northland Mall .