Elder-Beerman Announces a New Concept Store Opening Spring 2001 in Stevens Point, Wisconsin.

Business Editors

DAYTON, Ohio--(BUSINESS WIRE)--Sept. 21, 2000

The Elder-Beerman Stores Corp. (Nasdaq:EBSC) announced today a new department store in Stevens Point, Wisconsin. This store, scheduled to open in the spring of 2001, will be the Company's sixth new concept store, and will be the fourth Elder-Beerman store in Wisconsin.

"New concept store growth is an important part of our new three-part strategic plan, along with a shift in our merchandising strategy and organizational streamlining," said Frederick J. Mershad, chairman and chief executive officer. "The Stevens Point area is a terrific market and fits well into our strategy to be the destination department store in smaller, underserved markets. This store will incorporate successful concepts first introduced in our Warsaw, Indiana and Frankfort, Kentucky stores."

The Stevens Point, Wisconsin store will be located in Plover Plaza, and will occupy approximately 55,000 square feet. The shopping center is located just south of Stevens Point in Plover on State Route 54, with easy access to Interstate 39. This store will carry a merchandise mix of brand name apparel, accessories and shoes for men, women, juniors, young men and children, cosmetics and fragrances, plus a full assortment of home furnishings. The store's new concept design will enhance the customer shopping experience through a more convenient store layout and fixturing that will attractively offer more merchandise in less space.

The features from Elder-Beerman's other concept stores that will be incorporated in the Stevens Point store include:

-- Centralized customer service centers -- Highly visible customer service
centers located throughout the store will be staffed during all store hours to
facilitate fast and easy purchases for the customer with Elder-Beerman's new
proprietary point of sale system. These service centers and the new point of
sale system help Elder-Beerman to provide the fast and efficient service that
today's customer needs.

-- Self-select cosmetics -- All of the fragrances and about 50 percent of the
treatment products will be available on open shelves and other open fixtures
for easy selection.

-- The Zone -- A combined juniors' and young men's shop that creates an
exciting specialty store within a store for the generation Y customer.

"Elder-Beerman looks forward to treating our future customers in Stevens Point to a refreshing shopping experience by providing an attractive, exciting and up-to-date department store that delivers fashion, value and superb service," Mershad commented.

The nation's ninth largest independent department store chain, The Elder-Beerman Stores Corp. is headquartered in Dayton, Ohio and now operates 62 department stores in Ohio, West Virginia, Indiana, Michigan, Illinois, Kentucky, Wisconsin and Pennsylvania. Elder-Beerman also operates two furniture superstores. The company has announced a new concept store in Jasper, Indiana scheduled to open in November 2000.

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 merchandise strategies, 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.