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J.C. PENNEY COMPANY MAKES ANNOUNCEMENT

 PLANO, Texas, Oct. 4 /PRNewswire/ -- J.C. Penney Company, Inc. (NYSE: JCP) has elected to redeem on Nov. 1, 1993, all of its outstanding 8-3/8 percent notes due 1996. The company will redeem the notes at par plus accrued interest.
 To receive the redemption payment, certificates for the notes must be surrendered to Chemical Bank, New York, the paying agent for the notes. Questions concerning the redemption should be directed to Chemical Bank at 800-232-3110.
 -0- 10/4/93
 /CONTACT: Duncan Muir of J.C. Penney Company, Inc., 214-431-1329/
 (JCP)


CO: J.C. Penney Company, Inc. ST: Texas IN: REA SU:

CK -- NY102 -- 8540 10/04/93 16:55 EDT
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Publication:PR Newswire
Date:Oct 4, 1993
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