ADVISORY/Experts Available to Discuss Kmart Filing for Bankruptcy.

Business Editors

ADVISORY...

--(BUSINESS WIRE)--Jan. 22, 2002

TOPIC: Kmart, the No. 2 discount chain retailer, has filed for Chapter 11
bankruptcy after struggling through an unprofitable holiday season, according
to a report by Reuters. Wall Street analysts predicted the Troy, Michigan-based
company would file for bankruptcy after a series of recent debt downgrades that
raised the company's borrowing costs, the article says. It is said that the
retailer has secured $2 billion in debtor-in-possession financing and its 2,100
stores will remain open. EXPERTS: ExpertSource can offer several highly
qualified experts to comment on this story:

Mr. Robert A. Greenfield is a senior partner at Stutman, Treister & Glatt, one of the nation's leading bankruptcy and business reorganization firms. Based in Los Angeles, the firm's specialty is the rescue and rehabilitation of companies that have solvable financial problems and returning them to fiscal well being. Among the clients ST&G has represented are Barney's Inc., Federated Stores, Southern California Edison, Mattel, Inc., Standard Brands Paint Co., Bally's, Tri-Star Pictures, and Twentieth Century Fox Film Corp. Greenfield is a member of the American Bar Association (member, Joint Task Force on Bankruptcy Court Structure and Insolvency Process, Section of Business Law and Section of Litigation, since 1989). He was an adjunct professor of law at Loyola University Law School from 1978-1983, and has been chairman of the Committee on Procedure and Court System of the National Bankruptcy Conference since 1983. He also has been a member of the Leadership Subcommittee of the Long-Range Plan Implementation Committee of the United States Bankruptcy Court, Central District of California since 1967, and is a past president. 213/251-5130, [e-mail]; PR: Bernie Roswig ([e-mail], 310/836-4381).

Mr. Bruce R. Zirinsky is Chairman of the Financial Restructuring Department at Cadwalader, Wickersham & Taft. He has specialized in U.S. and international financial restructurings and reorganizations for almost 30 years. Mr. Zirinsky's clients include commercial banks, investment banks, managers of large mutual funds and other investment funds, large public and private companies, and other business enterprises. Mr. Zirinsky's practice encompasses counseling debtors, secured and unsecured lenders, creditors, public bondholders, shareholders, and investors involved in many of the largest and most complex U.S. and international reorganizations and restructurings, financial transactions, mergers and acquisitions, and litigation. In recent years, Mr. Zirinsky has played a major role in the restructuring, reorganization, sale or acquisition of businesses in the telecommunications, retail, financial services, real estate, airline, rail car, forest products, petroleum, energy, computer, media, casino gaming, electric power, and health care industries. PR: Paula Zirinsky ([e-mail], 212/504-5696).

Professor Barry Adler, of the New York University School of Law, is an expert regarding bankruptcy law and corporations. 212/998-6660

ExpertSource cannot guarantee the immediate availability of these experts or their familiarity with this specific issue.

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