J. C. Penney Company, Inc.: J. C. Penney Company, Inc. Grants Previously Disclosed Equity Inducement Award to Edward Record

   J. C. Penney Company, Inc.: J. C. Penney Company, Inc. Grants Previously
              Disclosed Equity Inducement Award to Edward Record

PLANO, Texas - (May 21, 2014) - In accordance with the New York Stock Exchange
rules regarding equity inducement  awards, J. C.  Penney Company, Inc.  (NYSE: 
JCP) announced that  on May 20,  2014, an equity  inducement award of  223,964 
restricted stock  units (RSUs)  was granted  to Edward  Record, the  Company's 
Executive Vice President and Chief  Financial Officer, in connection with  the 
commencement of his employment. The Company previously disclosed these awards
in connection with the announcement of Mr. Record's appointment in February.

The RSUs will  vest in thirds  on the first,  second and third  anniversaries, 
respectively, of  the grant  date, provided  Mr. Record  remains  continuously 
employed with the Company through those  dates. The award fully vests if  Mr. 
Record is terminated for  any reason other than  cause, and if his  employment 
terminates in certain cases within two years following a change of control  at 
the Company.

Media Relations:
(972) 431-3400 or jcpnews@jcp.com

Investor Relations:
(972) 431-5500 or jcpinvestorrelations@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 
approximately 1,100 stores  and at  jcpenney.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 jcpenney.com.

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Source: J. C. Penney Company, Inc. via Globenewswire
HUG#1787858
 
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