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HIGBEE'S EXPANDS PRESENCE IN NORTHEAST OHIO

 HIGBEE'S EXPANDS PRESENCE IN NORTHEAST OHIO
 CLEVELAND, Feb. 26 /PRNewswire/ -- The Higbee Company, Dillard


Department Stores, Inc. (NYSE: DDS) and The Edward J. DeBartolo Corporation announced an agreement in principle which was reached late yesterday, whereby Horne's will sell five of its department stores to Higbee's.
 The stores are located in Great Lakes Mall, Randall Park Mall, Westgate Center and Severance Shopping Center, all located in the Greater Cleveland/Akron /Canton area, as well as the Horne's store located in Southern Park Mall in Youngstown, Ohio. The transaction includes the purchase of real estate, assumption of certain leases and purchase of certain accounts receivable. Higbee's will offer continuing employment to substantially all of the store employees.
 As part of this agreement in principle, an existing lawsuit involving the Joseph Horne Co. and other related parties will be dismissed.
 "The acquisition of these stores will allow Higbee's to expand our presence in Greater Cleveland/Akron/Canton as well as extend the geographical area we serve to Youngstown," said Roy Grimes, chairman of the The Higbee Company Stores Division. "The added sales volume these stores will provide will be very beneficial for Higbee's."
 The transaction will be completed following receipt of appropriate approvals and cessation of Horne's operations in the stores - a process expected to be completed by mid-summer. Higbee's is owned by Dillard/DeBartolo and presently operates 12 stores in the Greater Cleveland/Akron/Canton area.
 -0- 2/26/92
 /CONTACT: Dillard Department Stores, 501-376-5200/ CO: Edward J. DeBartolo Corp., Dillard Dept. Stores, Higbee Company ST: Ohio IN: REA SU: TNM


CG -- CL015 -- 2972 02/26/92 16:39 EST
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Publication:PR Newswire
Date:Feb 26, 1992
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