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Federated Announces New San Francisco Bloomingdale's

From: ASAP

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Federated Department Stores, Inc. (NYSE:FD)(PCX:FD) today announced plans for a new Bloomingdale's store in downtown San Francisco. The new store will occupy 337,000 square feet of retail space in Westfield San Francisco Centre, encompassing five levels -- second in size and offering only to the flagship Bloomingdale's 59th & Lexington store in New York.

"The San Francisco store will be our West Coast landmark -- as our New York flagship is in the East," said Michael Gould, Bloomingdale's chairman. "We're thrilled to be a part of this project, and we look forward to bringing our fashion leadership to San Francisco customers as we solidify our presence with a downtown store in this important market."

Prevailing assortments in all categories of home and fashion merchandise will be represented at Bloomingdale's Westfield San Francisco Centre store, including furniture. The official groundbreaking ceremony is scheduled for tomorrow and a store opening is planned for fall 2006.

Federated's involvement with the project goes beyond the new Bloomingdale's store. Its former Emporium property, with its landmark glass dome that spans 102 feet in diameter, is being combined with the adjacent San Francisco Centre. In addition to Bloomingdale's, the new 1.5 million-square foot Centre will feature 200 specialty stores and exclusive boutiques, a state-of- the-art, nine-screen cinema and upscale dining. Jointly owned by Westfield America and Forest City Development, the new venue will be the largest urban shopping center west of the Mississippi and is expected to attract 25 million visitors each year.

Bloomingdale's, a division of Federated, is headquartered in New York. The division currently operates 34 stores in 12 states, with 2002 annual sales of more than $1.7 billion.

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 $15.4 billion. Federated currently operates more than 450 stores in 34 states, Guam and Puerto Rico, under the names of Macy's, Bloomingdale's, Bon-Macy's, Burdines, Goldsmith's-Macy's, Lazarus-Macy's and Rich's-Macy's, as well as macys.com and Bloomingdale's By Mail.

(NOTE: Information on Federated and its operating divisions is available on the Internet at www.fds.com.) Federated today also issued its third quarter earnings release and a release on the Burdines-Macy's branding initiative in Florida.

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