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Federated Named as a Top Company for Executive Women

From: ASAP

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Federated Department Stores, Inc. (NYSE:FD)(PCX:FD) announced that the company has been named by the National Association for Female Executives (NAFE) as one of "The Top 30 Companies for Executive Women." Federated and Procter & Gamble were the only Ohio-based companies to make the list. A complete list is available at www.nafe.com.

According to NAFE, the competition was toughened this year by measuring the percentage of women occupying positions with profit-and-loss (P & L) responsibility. In addition, the NAFE "Top 30" companies must demonstrate at least two women on the board and comprehensive programs and policies that support women's advancement. At Federated, women fill 65 percent of management positions. Additionally, in senior management ranks, and in P & L roles, more than 50 percent are women.

"Representation of women at all levels of our workforce, including in P & L and other key decision-making roles, is essential to our success in the marketplace, and to providing the best shopping experience for our primarily female customer base," said Corliss Fong, Federated operating vice president for diversity management. "We offer women the opportunity to grow in their careers, and are proud of the career development and equally important work/life balance programs that help to make Federated the best place to work."

NAFE, founded in 1972, is the largest women's professional and business association in the country. It publishes NAFE Magazine, a bi-monthly publication distributed to 65,000 members. NAFE began conducting the Top 30 Companies for Executive Women in 2002, picking up the work of Working Woman magazine. NAFE is part of Working Mother Media, which also operates Working Mother magazine, the annual 100 Best WorkLife Conference, and recently launched the new initiative the Best Companies for Women of Color.

Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, with annual sales of more than $15.2 billion. Federated operates more than 450 stores in 34 states, Guam and Puerto Rico under the names of Macy's, Bloomingdale's, Bon-Macy's, Burdines-Macy's, Goldsmith's-Macy's, Lazarus-Macy's and Rich's-Macy's. The company also operates macys.com and Bloomingdale's By Mail.

January 2005

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