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The Spiegel Group Declares Third Quarter Dividend

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The Spiegel Group today announced that its board of directors declared a quarterly cash dividend of $0.04 per share on the company's common stock. The dividend is payable on August 20, 2001, to stockholders of record on August 13, 2001. The Spiegel Group currently has 131.9 million shares of Class A and Class B common stock outstanding.

The Spiegel Group is a leading international specialty retailer marketing fashionable apparel and home furnishings to customers through catalogs, more than 580 specialty retail and outlet stores and eight e-commerce sites, including eddiebauer.com, newport-news.com and spiegel.com. The Spiegel Group's businesses include Eddie Bauer, Newport News, Spiegel and First Consumers National Bank. The company's Class A Non-Voting Common Stock trades on the NASDAQ National Market System under the ticker symbol: SPGLA. Investor relations information is available on The Spiegel Group web site (thespiegelgroup.com).

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