Elder-Beerman Announces Grand Opening of Warsaw, Indiana Store.

DAYTON, Ohio--(BUSINESS WIRE)--Oct. 11, 1999--

The Elder-Beerman Stores Corp. (Nasdaq:EBSC) announced it will debut the new Warsaw, Indiana store at the Grand Opening celebration scheduled for October 15, 1999, at 9:00 a.m. The store is located in the Market Place Shopping Center at 2856 Frontage Road. This 56,000 square-foot store will introduce Elder-Beerman's new prototype concept, which will enhance customer service through more convenient store layouts and state-of-the-art fixturing, coupled with new approaches to store staffing and use of technology. The Grand Opening begins October 15th with a ribbon cutting ceremony at 9am and continues through the weekend with terrific savings and exciting special events.

The first 1,000 guests entering the doors will receive a $10 off coupon valid toward any purchase of $25 or more! Plus, customers are eligible to receive a free Elder-Beerman tote bag with a $25 Elder-Beerman charge card purchase while quantities last. Weekend festivities include live musical entertainment, strolling clowns to entertain the children, light refreshments and register-to-win contests to help celebrate this very special grand opening. Customers may receive free gifts with purchases in ten departments and are eligible to register-to-win over $13,000 in prizes including the grand prize of a 7 day Millennium Cruise. Customers may refer to instore displays for more details.

Elder-Beerman offers computerized personal bridal registry that is linked to all stores in eight states. Each bride-to-be may register to receive personalized consultation, free shipping and gift wrap on wedding gifts, and may join the completion program and club plan.

Shoppers are invited to apply for an Elder-Beerman Charge Card during the Grand Opening celebration and will receive a crystal star-shaped candleholder with votive when they receive their new charge card.

The nation's eighth largest independent department store chain, The Elder-Beerman Stores Corp. operates 60 stores in Ohio, Indiana, West Virginia, Michigan, Illinois, Kentucky, Wisconsin and Pennsylvania. Headquartered in Dayton, Ohio, Elder-Beerman reported total revenues of $658.0 million and net sales from store operations of $632.4 million in 1998. Elder-Beerman also operates two furniture superstores.

Note: This press release contains "forward-looking statements," including predictions of future operating performance, events or developments such as our future sales, profits, expenses, income and earnings per share. In addition, words such as "expects," "anticipates," "intends," "plans," "believes," "hopes," and "estimates," and variations of such words and similar expressions, are intended to identify forward-looking statements.

Because forward-looking statements are based on a number of beliefs, estimates and assumptions by management that could ultimately prove inaccurate, there is no assurance that forward-looking statements will prove to be accurate. Many factors could materially affect our actual future operations and results, including the following: increasing price and product competition; fluctuations in consumer demand and confidence; the availability and mix of inventory; fluctuations in costs and expenses; the effectiveness of advertising, marketing and promotional programs; weather conditions that affect consumer traffic in stores; the continued availability and terms of financing; the outcome of pending and future litigation; consumer debt levels; and other general economic conditions that affect retail operations and sales, such as the rate of employment, inflation and interest rates and the condition of the capital markets.

Elder-Beerman undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.