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Fingerhut  Announces Four Executive Promotions

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Fingerhut Companies, Inc., today announced the promotion of four executives: John Christiansen has been named senior vice president of marketing; Wayne P. Garten has been appointed president of Popular Club; Nils Ytterbo has been promoted from CFO to senior vice president and CFO; and Kin Leung has been promoted from director to vice president of finance, Fingerhut subsidiaries.

"I am pleased to recognize these individuals as key members of our executive team," said Michael Sherman, president of Fingerhut. "Our success as a company is due in large part to their contributions, and I'm confident we will continue to achieve many milestones as a result of their extensive management experience."

John Christiansen

John Christiansen, formerly vice president, e-commerce marketing, has assumed the position of senior vice president of marketing. In this position, he has overall responsibility for the marketing efforts of the Fingerhut brand. Christiansen has been with Fingerhut for 22 years, and has played a key role in the company's leadership and growth. Reporting to Christiansen are John Schlundt, director of customer list marketing; Karla Venell, director of new customer marketing and telemarketing; Mark A. Nelson, director of Hispanic market development; Paul Bona, vice president of strategic marketing and John Hunsicker, vice president and COO of e-commerce.

Wayne Garten

Wayne Garten has assumed the role of president of Popular Club, a wholly owned subsidiary of Fingerhut. Prior to Fingerhut, Garten served as chief financial officer for MicroWarehouse and before that was the CFO of Hanover Direct. Garten reports to Steve Lightman, Fingerhut's executive vice president, Catalog.

Nils Ytterbo

Nils Ytterbo, CFO, has been promoted to the office of senior vice president and CFO. He joined Fingerhut in 1999 after a distinguished 20-year career with Federated Department Stores, Inc. In his short tenure at Fingerhut, he has made significant improvements in financial reporting and has been a key player in planning and managing major cost reduction projects. Ytterbo now reports directly to Michael Sherman, president of Fingerhut.

Kin Leung

Kin Leung has been promoted from director to vice president of finance, Fingerhut subsidiaries. Leung joined Fingerhut in 1997 after a 14-year career at Target Corporation (formerly Dayton- Hudson Corporation.) He has played a critical role in Fingerhut's successful catalog acquisition strategy. In his new role, Kin will assist with the supervision and review of the company's subsidiaries, and will lead efforts to manage costs. He reports to Nil Ytterbo, Fingerhut's senior vice president and CFO.

About Fingerhut

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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