Luis Padilla Joins Sears From Target, Field's as President of Merchandising

Leading Retail Executive to Drive Integration of All Merchant and Marketing Efforts

Sears, Roebuck and Co. (NYSE: S) today announced that one of the top merchants in the retail industry, Luis Padilla, will join Sears as president of merchandising, a newly created position. In his new role with Sears, Padilla will lead and integrate all merchandising and marketing across the company's broad product and brand portfolio. He will report to Alan Lacy, Sears chairman and chief executive officer.

Padilla, 50, joins Sears from Target Corporation, where he served in key leadership roles with the company. Most recently, Padilla was executive vice president, merchandising for Target's Marshall Field's division. Before that he was senior vice president, softlines merchandising, for Target Stores from 1994 to 2001.

"In Luis Padilla, we have one of the industry's most highly regarded retail executives who is credited with outstanding achievement in combining excellent merchant skills with a passion for brand leadership," said Lacy. "His background and experience in bringing great merchandise to both a department store and discount retail environment, to both on- and off-mall formats, is ideally suited for this key leadership position at Sears as we move to grow our business aggressively on all fronts."

"Sears is a great name in retailing with great brands. As a broadline retailer, Sears has a solid opportunity to reconnect with the American consumer in a big way," said Padilla. "I have every reason to be optimistic about our prospects to grow the business."

About Sears

Sears, Roebuck and Co. is a leading broadline retailer providing merchandise and related services. With revenues in 2003 of $41.1 billion, the company offers its wide range of home merchandise, apparel and automotive products and services through more than 2,300 Sears-branded and affiliated stores in the U.S. and Canada, including approximately 870 full-line stores and 1,100 specialty stores in the U.S. Sears also offers a variety of merchandise and services through,, and specialty catalogs. Sears is the only retailer where consumers can find each of the Kenmore, Craftsman, DieHard and Lands' End brands together -- among the most trusted and preferred brands in the U.S. The company is the largest provider of product repair services with more than 14 million service calls made annually.

SOURCE: Sears, Roebuck and Co.

CONTACT: News Media, Chris Brathwaite, +1-847-286-4681, or Investors,
Scott A. Bohaboy, +1-847-286-7419, both of Sears, Roebuck and Co.

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