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SEARS ANNOUNCES VOLUNTARY 'ODDLOT' STOCK PROGRAM

 CHICAGO, Nov. 18 /PRNewswire/ -- Sears, Roebuck and Co. today announced a voluntary program enabling its shareholders who own less than 100 shares to sell those shares or purchase more shares conveniently, efficiently and directly through the mail, rather than through a broker.
 Sears Vice President and Treasurer Alice M. Peterson said the new "oddlot" program is responsive to shareholders who own less than 100 shares who have expressed concern about the cost and inconvenience of selling their shares in the open market. The program also offers a cost-effective way for these shareholders to increase their holdings to 100 shares, she said. Sears said the program will reduce administrative costs.
 Peterson said about 205,000 Sears common shareholders who held less than 100 shares on Nov. 10, 1993, are eligible to participate in the program and will be receiving details in the mail shortly. Sears also has asked stock brokerage firms to forward details of the program to their clients. The oddlot program expires Dec. 30, 1993, unless extended.
 Peterson said about 205,000 eligible shareholders own a total of about 4.2 million shares. About one-half of these shareholders own 10 or less shares, she said.
 Eligible shareholders interested in participating in the oddlot program can complete the acceptance form mailed to them and return it by Dec. 30, 1993, to First Chicago Trust Company of New York, the program manager. Checks for shares sold or stock certificates for shares purchased under the program will be mailed to shareholders by Jan. 9, 1994. A 50 cent per share processing fee for all purchases and sales will be applied.
 -0- 11/18/93
 /CONTACT: Gerald E. Buldak of Sears, 312-875-8371/
 (S)


CO: Sears, Roebuck and Co. ST: Illinois IN: REA SU:

LG -- NY038 -- 5983 11/18/93 11:30 EST
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Publication:PR Newswire
Date:Nov 18, 1993
Words:299
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