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J. C. Penney Company, Inc. : JCPENNEY INCREASES CREDIT FACILITY AVAILABILITY TO $1.85 BILLION

 J. C. Penney Company, Inc. : JCPENNEY INCREASES CREDIT FACILITY AVAILABILITY
                               TO $1.85 BILLION

       Amendment Increases Liquidity and Enhances Financial Flexibility
                                      

PLANO, Texas (Feb. 12, 2013) - J. C. Penney Company, Inc. ("jcpenney")  (NYSE: 
JCP)  announced  today  that  its   wholly-owned  subsidiary,  J.  C.   Penney 
Corporation, Inc.,  has  amended its  bank  credit facility  to  increase  its 
borrowing capacity to $1.85 billion and to expand the accordion feature of the
facility to $400 million. The amendment enhances the company's liquidity  and 
provides  additional  financial  flexibility  to  support  its  transformation 
initiatives. The facility may be used for general corporate purposes and  the 
pricing and maturity terms remain unchanged.  No funds have been drawn  under 
the agreement.

Ken Hannah, chief financial officer of jcpenney, said, "As we enter the second
year of our  transformation, today's announcement  reflects the confidence  of 
our banking  group  in our  long-term  strategy and  further  strengthens  our 
liquidity position as we continue to execute our plan."

The arrangement of the  credit facility was co-led  by J.P. Morgan  Securities 
LLC, Bank of America Merrill Lynch,  Barclays Capital and Wells Fargo  Capital 
Finance.

For further information, contact:

Investor Relations; (972) 431.5500
jcpinvestorrelations@jcpenney.com

Media Relations; (972) 431.3400
jcpcorpcomm@jcpenney.com 

Corporate Website
ir.jcpenney.com

About jcpenney:
More than  a  century  ago, James  Cash  Penney  founded his  company  on  the 
principle of the Golden Rule: treat others the way you'd like to be treated  - 
Fair and Square. His legacy  continues to this day,  as J. C. Penney  Company, 
Inc. (NYSE: JCP) boldly transforms  the retail experience across 1,100  stores 
and jcp.com to become America's favorite store. Focused on making the customer
experience better  every  day,  jcpenney  is dreaming  up  new  ways  to  make 
customers love shopping again. On  every visit, customers will discover  great 
prices every day  in a  unique Shops environment  that features  exceptionally 
curated merchandise, a  dynamic presentation and  unmatched customer  service. 
For more information, visit us at jcp.com.

This release may contain forward-looking statements within the meaning of  the 
Private  Securities  Litigation  Reform  Act  of  1995.  Such  forward-looking 
statements, which reflect  the Company's  current views of  future events  and 
financial performance, involve known and unknown risks and uncertainties  that 
may cause the Company's actual results to be materially different from planned
or expected  results.  Those risks  and  uncertainties include,  but  are  not 
limited to,  general  economic  conditions,  including  inflation,  recession, 
unemployment levels, consumer spending patterns, credit availability and  debt 
levels,  changes  in  store   traffic  trends,  the   cost  of  goods,   trade 
restrictions, the  impact  of  changes designed  to  transform  our  business, 
customer acceptance  of  our new  strategies,  the impact  of  cost  reduction 
initiatives, implementation of new systems  and platforms, changes in  tariff, 
freight and shipping rates, changes in the  cost of fuel and other energy  and 
transportation costs, increases  in wage  and benefit  costs, competition  and 
retail industry consolidations, interest  rate fluctuations, dollar and  other 
currency valuations, the impact of  weather conditions, risks associated  with 
war, an act of terrorism or pandemic, a systems failure and/or security breach
that results in the  theft, transfer or  unauthorized disclosure of  customer, 
employee or Company information and legal and regulatory proceedings.  Please 
refer to the  Company's most  recent Form 10-K  and subsequent  filings for  a 
further discussion  of risks  and uncertainties.  Investors should  take  such 
risks into account when  making investment decisions. We  do not undertake  to 
update these forward-looking statements as of any future date.

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Source: J. C. Penney Company, Inc. via Thomson Reuters ONE
HUG#1677609
 
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