June 8, 1998

Mary Lorencz
Director, Media Relations
Kmart Corporation
(248) 643-1021

Kmart Confirms Locations Of 48 Former Venture Stores To Be Leased From Kimco Realty

TROY, Mich., June 8, 1998 - Kmart Corporation (NYSE: KM) today released a list of the 48 former Venture locations the company will lease from Kimco Realty Corp. (NYSE: KIM).

The majority of the stores are in the Chicago and St. Louis markets (see list below). Kmart expects to take possession of the store locations in July and reopen them as Big Kmart stores in late Fall.

"These 48 locations will increase Kmart's market share in Chicago, Kansas City and St. Louis where we enjoy a strong customer franchise as well as bring the Big Kmart format to new markets like Oklahoma City," said Larry Kellar, Kmart vice president, real estate. "We are excited that these new Big Kmart stores will bring our high quality products and Kmart low prices to even more customers."

Following is the list of former Venture locations Kmart will lease:

BIG KMART STORE SITES
(formerly Venture Stores)

IOWA (1)

Davenport, 3808 Brady Street

ILLINOIS (26)

Addison, 1050 N. Route 53
Arlington Heights, 750 East Rand
Aurora, 1250 N. Lake St.
Belleville, 7230 Westfield Paza Dr.
Calumet City, 500 River Oaks West
Chicago, 1740 N. Kostner Ave.
Chicago, 4433 S. Pulaski Rd.
Chicago, 2050 W. Peterson
Chicago, 5033 North Elston
Countryside, 140 Countryside Plaza
Crestwood, 13200 South Cicero
Elgin, 450 Airport Rd.
Fairview Heights, 2500 Belleville Rd.
Forest Park, 7600 W. Roosevelt Rd.
Geneva, 2100 S. Randall Rd.
Matteson, 21000 S. Cicero Ave.
Mt. Prospect, 1500 S. Elmhurst Rd.
Mundelein, 1555 S. Lake St.
Naperville, 510 S. Route 59
Niles, 8500 W. Golf Rd.
Norridge, 4210 N. Harlem Ave.
Oak Lawn, 4101 W. 95th St.
Oakbrook Terrace, 17 W. 734 22nd St.
Peoria, 901 W. Lake Ave.
Schaumberg, 1311 Golf Rd.
Springfield, 2115 McArthur Blvd.

INDIANA (2)

Griffith, 430 W. Ridge Rd.
Merrillville, 6063 Broadway

KANSAS (3)

Kansas City, 4301 State Ave.
Roeland Park, 4950 Roe Ave.
Shawnee, 13110 W. 62nd Terr.

MISSOURI (12)

Creve Coeur, 955 Woodcrest Exec. Dr.
Crystal City, 155 Twin City Mall
Florissant, 2855 Dunn Rd.
Independence, 4023 S. Noland
Kansas City, 4820 N. Oak Trafficway
Kirkwood, 1225 S. Kirkwood Rd.
Manchester, 14425 Andersohn Dr.
Maplewood, 3200 Laclede Station Rd.
Overland, 8901 Page Ave.
Springfield, 3101 S. Glenstone Ave.
St. Louis, 3901 Lemay Ferry Rd.
St. Peters, 3979 Bogey Rd.

OKLAHOMA (3)

Edmond, 2501 S. Broadway St.
Midwest City, 5701 E. Reno Ave.
Oklahoma City, 7401 S. Shields Blvd.

TEXAS (1)

Amarillo, 2610 Soncy Dr.

In 1998, Kmart will invest $350 million to roll out 511 more Big Kmart stores, bringing the total to 1,181 conversions by year-end. Kmart Corporation serves America with 2,117 Kmart, Big Kmart and Super Kmart retail outlets. In addition to serving all 50 states, Kmart operations extend to Puerto Rico, Guam and the U.S. Virgin Islands. More information about Kmart is available on the World Wide Web at www.kmart.com.