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CARSON PIRIE SCOTT & CO. STOCK LISTED ON NASDAQ; COMPANY EMERGES FROM CHAPTER 11

 MILWAUKEE, Nov. 1 /PRNewswire/ -- The common stock of department store retailer Carson Pirie Scott & Co. (NASDAQ-NMS: CPSC) began trading on the NASDAQ National Market System today, three days after the company, previously called P.A. Bergner & Co., formally emerged from Chapter 11 proceedings.
 The stock is traded under the symbol CPSC.
 Consummation of the company's reorganization plan occurred on Oct. 29. Upon consummation, the company changed its corporate name to Carson Pirie Scott & Co., a name that is widely known in the national investment community. P.A. Bergner had been privately held since it was founded in 1889.
 Under terms of its reorganization plan, Carson Pirie Scott & Co. issued 20 million shares of common stock to holders of the company's secured bank debt claims. The 20 million shares represent 100 percent ownership of the new company.
 Stanton J. Bluestone, president and chief executive officer of Carson Pirie Scott & Co., who with the current senior management team led the company throughout the 26-month reorganization process, said, "This has been an arduous journey but we have accomplished what we set out to do. We stayed focused on our core department store business. We are a leaner company, yet we have maintained market share. We are emerging from Chapter 11 with a conservative and improved capital structure that will permit us to invest in our stores and the future of our business."
 Bluestone continued, "We want to thank our associates, our vendors, and our customers for their support during a difficult period. None of this could have been accomplished without their cooperation and assistance."
 Mark Dickstein, a member of Carson Pirie Scott & Co.'s board of directors and president of the investment firm of Dickstein Partners Inc., which is a major shareholder in the company, said he was confident that the retailer had a bright future.
 "We are happy to be involved with Carson Pirie Scott & Co. This is a company with strong, stable management that has been able to meet or exceed its operating plan throughout the bankruptcy process," Dickstein said. "Now that they are free of the distraction of those legal proceedings and are armed with a solid business plan, we think that they will not only survive, but prosper. We have made a significant financial commitment to this company and want to share in the company's future growth."
 Though its corporate name has changed, the company will continue to do business under the Bergner's, Boston Store and Carson Pirie Scott nameplates in its various markets. The corporate headquarters will remain in Milwaukee.
 Carson Pirie Scott is the 10th largest department store retailer in the United States with sales in excess of $1.1 billion and 63 stores in the Upper Midwest. Its operations include 38 Carson Pirie Scott stores in Greater Chicago, Indiana and Minnesota; 14 Bergner's in downstate Illinois and Wisconsin; and 11 Boston Stores in Wisconsin.
 -0- 11/1/93
 /CONTACT: Edward P. Carroll, Jr., executive vice president, sales promotion & marketing, of Carson Pirie Scott & Co., 414-347-5340/
 (CPSC)


CO: Carson Pirie Scott & Co. ST: Wisconsin IN: REA SU: BCY

BM-KL -- CL006 -- 9006 11/01/93 09:16 EST
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Publication:PR Newswire
Date:Nov 1, 1993
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