Federated Named as a Top Company for Executive Women.

CINCINNATI -- Federated Department Stores, Inc. (NYSE:FD)(PCX:FD) today announced that the company has been named among the top ten in the National Association for Female Executives (NAFE) "Top 30 Companies for Executive Women."

In naming its top companies, NAFE looks beyond corporate programs and policies, purportedly dedicated to advancing women, to their results - examining the number of women in the company overall, in senior management, and on its board of directors. NAFE also scrutinized how well represented women were among the company's top earners.

At Federated, parent company of Macy's and Bloomingdale's, about 70 percent of management positions are filled by women - and in senior management ranks, more than 50 percent. Three women serve on Federated's Board of Directors. Federated and Procter & Gamble are the only Ohio-based companies to make the list. A complete list is available at www.nafe.com.

"We are proud of the women represented at all levels of Macy's and Bloomingdale's, from the senior-most P&L positions and other key decision-making roles to our sales associates," said Corliss Fong, operating vice president for diversity management at Federated. "These women are essential to our success in the marketplace: in providing the best shopping experience for our customers, creating the best work environment for our employees, and inspiring the best results for our business."

NAFE, founded in 1977, is the largest women's professional and business association in the country, and publishes NAFE Magazine. NAFE began conducting the Top 30 Companies for Executive Women in 2002, picking up the work of Working Woman magazine. NAFE is part of Working Mother Media, which also operates Working Mother magazine, the annual 100 Best WorkLife Conference, and recently launched the new initiative the Best Companies for Women of Color.

Federated, with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2006 sales expected to be more than $27 billion. Federated operates more than 850 department stores and more than 720 bridal and formalwear stores in 49 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's, Bloomingdale's, Famous-Barr, Filene's, Foley's, Hecht's, Kaufmann's, Lord & Taylor, L.S. Ayres, Marshall Field's, Meier & Frank, Robinsons-May, Strawbridge's, The Jones Store, David's Bridal, After Hours Formalwear and Priscilla of Boston. The company also operates macys.com and Bloomingdale's By Mail.

(NOTE: Additional information on Federated, including past news releases, is available at www.fds.com/pressroom)