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Fingerhut Promotion

From: ASAP
Remote Name: 64.12.101.157

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Fingerhut Companies, Inc., today announced the promotion of Steven A. Lightman to executive vice president, Catalog. He is now responsible for the operations and management of Fingerhut's core catalog and subsidiary catalog businesses. Dick Tate, former president of the Fingerhut catalog, retired effective May 1, 2001.

"Steve is one of the most energetic and talented executives in the industry," said Michael Sherman, president of Fingerhut. "By combining the Fingerhut and subsidiary catalogs under one umbrella, we can leverage his strengths and continue to develop our catalog businesses."

Lightman joined Arizona Mail Order (AMO) in 1982, and has been involved in the direct marketing industry for almost 20 years. In an effort to develop its business through growth and acquisition, Fingerhut purchased AMO in 1998 to serve as a platform into the apparel market. Lightman served as president of the subsidiary, and was instrumental in the successful acquisitions of Bedford Fair Apparel, Lew Magram and Brownstone. Lightman will now work with Sherman to provide overall direction for the catalog businesses.

Lightman received his bachelor's degree in accounting and business administration from the University of Hartford in Connecticut. Before coming to AMO, he was in the restaurant business, and also worked at Travelers Insurance Company as an internal auditor. Lightman has been active in the Tucson community through business and civic activities. He now lives in Minnetonka with his wife and three children.

Fingerhut Companies, Inc. is a leading database marketing company selling a broad range of products and services direct-to-the- consumer through catalogs, direct marketing and the Internet. The company is a wholly owned subsidiary of Federated Department Stores, Inc. (NYSE:FD). Based in Minnetonka, Minn., Fingerhut is the second largest consumer cataloger in the country. In addition to the Fingerhut catalog, the company publishes Figi's, Old Pueblo Traders, Bedford Fair, Willow Ridge, Brownstone Studio, Lew Magram and Popular Club. Fingerhut can also be found on the Internet at www.fingerhut.com and www.fingerhut.com/espanol.

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