J. C. Penney Company, Inc. : STATEMENT BY THOMAS ENGIBOUS, CHAIRMAN OF THE JCPENNEY BOARD

  J. C. Penney Company, Inc. : STATEMENT BY THOMAS ENGIBOUS, CHAIRMAN OF THE
                                JCPENNEY BOARD

 
PLANO, TEXAS (August 9, 2013)-Thomas Engibous, Chairman of theBoard of
Directors ofJ. C. Penney Company, Inc. (NYSE: JCP), today issued the
following statement:

"The Board is focused  on the important work  of stabilizing and  rejuvenating 
the business. It is following proper governance procedures, and members of the
Board have  been fully  informed and  are making  decisions as  a group.  This 
includes the CEO search  process, which is being  conducted at an  appropriate 
pace. The Board also continues to  actively oversee management as it  conducts 
the important work underway to rebuild the Company.

Mr. Ackman's statements are misleading, inaccurate and counterproductive."

For further information, contact:

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

Media Relations: (972) 431.3400
jcpnews@jcp.com

Corporate Website
ir.jcpenney.com

About jcpenney:
J. C. Penney Company,  Inc. (NYSE: JCP), one  of the nation's largest  apparel 
and home furnishing  retailers, is dedicated  to becoming America's  preferred 
retail destination for unmatched style, quality and value. Across 1,100 stores
and at jcp.com, customers will discover an inspiring shopping environment that
features the most sought after  collection of private, national and  exclusive 
brands and attractions. For more information, please visit jcp.com.

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Source: J. C. Penney Company, Inc. via Thomson Reuters ONE
HUG#1722334
 
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