Kmart Names New Senior Vice President Real Estate

Kmart Corporation (NYSE: KM) today announced that John M. Foster has joined the company as Senior Vice President, Real Estate Management, effective immediately.

In this new position, Foster reports directly to Kmart President and COO Mark Schwartz and is responsible for Real Estate, Construction and Design, and Real Estate Market Strategy.

A 15-year retail real estate Veteran, Foster joins Kmart from his post as Vice President and General Manager for Cole National Company where he was responsible for the start-up of Target Optical, including property development, operations, merchandising and marketing. He also held senior level real estate positions with Biker's Depot, Super Shops, Inc., Reliable Drug Stores, Inc. and Rite Aid Corporation. Foster received his Bachelor of Science Degree in Accounting from Northern Michigan University and his MBA from the University of Pennsylvania's Wharton School.

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 -- everyday 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: Steve Pagnani, Manager, Corporate Media Relations of Kmart
Corporation, 248-463-1021


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