Sears Announces Regular Quarterly Dividend

The board of directors of Sears, Roebuck and Co. (NYSE: S) today declared a regular quarterly dividend of 23 cents per share on Sears outstanding common shares, scheduled to be paid on January 2, 2001 to shareholders of record at the close of business on November 30, 2000.

Sears, Roebuck and Co. is a leading U.S. retailer of apparel, home and automotive products and services, with annual revenue of nearly $40 billion. The company serves families throughout the country through approximately 860 department stores, more than 2,100 specialized retail locations, and a variety of online offerings accessible through the company's Web site, http://www.sears.com/ .

SOURCE: Sears, Roebuck and Co.

Contact: Peggy A. Palter of Sears, Roebuck and Co., 847-286-8361

Website: http://www.sears.com/