Kmart Rewards Consumers With Five Percent Cash Card Bonus On Tax Rebate Checks

IRS Is Rewarding Consumers With Cash Back. Now, Kmart Is Too.

Kmart Corporation (NYSE: KM) today announced that it will offer customers free tax rebate check-cashing services and will reward any person who converts their rebate check into a Kmart Tax Rebate Cash Card with a special five percent bonus. For example, a $300 rebate check can instantly be converted into a $315 Kmart Tax Rebate Cash Card at any of Kmart's more than 2,100 locations effective immediately.

"The ultimate goal at Kmart is to provide the customer with the best value possible," said Mark Schwartz, Kmart President and COO. "We want to offer more than just the convenience of cashing these tax rebate checks. Kmart wants to reward our loyal customers with additional cash back so they buy the products they need for their families."

The Kmart Tax Rebate Cash Card with the five percent bonus will be available only at the Service Desk. Customers may also redeem their checks at face value for cash at any register. More than $38 billion in federal income tax rebate checks will be mailed out to about 91 million U.S. taxpayers over the next 10 weeks. Households that paid federal income tax in 2000 will receive one-time checks for $300 to $600.

Kmart Corporation is a near-$40 billion company that serves America with more than 2,100 Kmart and Kmart Supercenter retail outlets. Kmart donates $35 million each year to support its hometowns and local non-profit organizations. Kmart associates also provide their most valuable resource -- time -- every day in their local communities. In addition to serving all 50 states, Kmart operations extend to the Caribbean Islands and Asia Pacific. More information about Kmart is available on the World Wide Web at under the "About Kmart" section.


SOURCE: Kmart Corporation

Contact: Stephen Pagnani of Kmart Media Relations, +1-248-463-1021


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