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Burdines Gets New President/COO

From: ASAP

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Federated Department Stores, Inc. (NYSE:FD) (PCX:FD) has named Nirmal K. "Trip" Tripathy as president and chief operating officer of its Miami- based Burdines division, effective immediately. The position of Burdines president/chief operating officer has been vacant since Michael J. Osborn moved to Macy's West as president/chief operating officer of that Federated division in June 2002.

Tripathy, 45, joined Burdines as executive vice president of administration in July 2002, after having served since February 2000 as chief financial officer of Limited Stores, a division of Limited Brands, Inc.

"Trip Tripathy's contributions over the year and a half since joining the Burdines team make it clear that he is clearly qualified to assume the position of president and chief operating officer of the division," said Terry J. Lundgren, Federated's president and chief executive officer. "Along with Burdines chairman Tim Adams, and vice chairman/director of stores J. David Scheiner, I am confident that we have a strong and dynamic retail management team in place to lead Burdines through the exciting months and years ahead."

Burdines will begin operating as Burdines-Macy's throughout Florida effective January 30, 2004, at which time Burdines also will assume buying and management responsibilities for Macy's Florida operations. A total of 56 Burdines and seven Macy's stores will operate under the combined Burdines-Macy's moniker.

Tripathy, a graduate of Calcutta University, began his career with Union Carbide Corporation as a financial analyst in 1982, moving to an affiliate of KPMG Peat Marwick in India in 1983 as a management services consultant. A C.P.A., he joined Price Waterhouse in Dallas, TX, in 1987, after having earned his masters degree in business from Texas Christian University.

In 1989, Tripathy joined PepsiCo, Inc. where he held various positions of increasing responsibility in financial and planning areas of the business both in the U.S. and overseas prior to joining Limited Stores in 2000.

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 operates more than 460 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. The company also operates macys.com and Bloomingdale's By Mail.

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