Federated Names Holman as Bloomingdale's President.

Business Editors

CINCINNATI--(BUSINESS WIRE)--June 2, 2000

Federated Department Stores, Inc. today announced the appointment of Edwin J. Holman as president and chief operating officer of its Bloomingdale's division, effective July 3. Holman has served as president and chief operating officer of Federated's Rich's/Lazarus/Goldsmith's division since January 1999.

Holman, 53, succeeds Jeffrey Sherman, who was named chairman and chief executive officer of Federated Direct, the company's direct-to-customer division, in March. In his new position, Holman will partner with Michael Gould, who has served as chairman and chief executive officer of Bloomingdale's since 1991.

"Ed Holman has done an outstanding job at Rich's/Lazarus/Goldsmith's," James M. Zimmerman, Federated's chairman and chief executive officer said. "In his tenure there, he has demonstrated strong management and organizational leadership skills that will be important as we continue to grow the distinctive Bloomingdale's fashion brand."

A successor to Holman at Rich's/Lazarus/Goldsmith's is expected to be named in the near future.

Prior to joining Federated last year, Holman was chairman and chief executive officer of Petrie Retail, Inc., a Secaucus, NJ-based specialty retailer operating specialty stores in the U.S. and Puerto Rico.

Holman began his department store career as operations manager of information systems at Macy's former Midwest division in Kansas City in 1971, becoming control manager in 1973 and administrator of internal audit in 1974 prior to being named vice president and controller in 1976. He joined Neiman Marcus in Dallas in 1981 as vice president/controller, becoming senior vice president of operations in 1982.

In 1985, Holman moved to Carter Hawley Hale Stores in Los Angeles, advancing from senior vice president of operations to vice chairman and chief operating officer by 1993. The following year, Holman joined Woodward & Lothrop in Washington, D.C., where he served for two years as president and chief operating officer prior to being named chairman and chief executive officer of Petrie in 1996.

A native of Kansas City, Holman is a graduate of Rockhurst University, from which he also earned a masters in business administration. He and his wife, Brenda, are the parents of two children.

Bloomingdale's, founded in 1872, reported 1999 sales of $1.788 billion. The New York-based division operates 24 full-line department stores in 10 states across the country.

Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, with annual sales of more than $17.3 billion. Federated currently operates more than 400 department stores in 33 states under the names of Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Lazarus, Macy's, Rich's, and Stern's. Federated also operates the Fingerhut, Bloomingdale's By Mail, Macy's By Mail, macys.com and bloomingdales.com direct-to-customer catalog and electronic commerce subsidiaries.

(NOTE: Information on Federated and its operating divisions is available on the Internet at http://www.federated-fds.com. Copies of past press releases and corporate background data also are available by calling Fax-On-Demand at 1-800-853-9150.)

Note to Editors: There should be an accent on the letter "e" in the company name "Bon Marche." The accent has been omitted for transmission purposes only.