Designed to Accelerate Growth by Forming Deeper, Emotionally-Driven Relationships with Customers

First Overarching Brand Positioning in Company's 105-Year History

PLANO, Texas--(BUSINESS WIRE)--Feb. 13, 2007--J. C. Penney Company, Inc. (NYSE:JCP) today announced the launch of its new brand positioning, "Every Day Matters," which will serve as the foundation for accelerating growth across the Company by enabling JCPenney to have a deeper, more emotional and enduring relationship with current and new customers.

"Every Day Matters" marks a fundamental change in how JCPenney defines its relationship with its customers. For the first time in the retailer's 105-year history, JCPenney has created an overarching brand positioning that will be inherent to every customer touch point, including inspiring lifestyle merchandise; enhanced customer service across all shopping channels; an integrated marketing campaign, featuring print, broadcast and online components; an updated store environment with new graphics and signage; and training for every one of the Company's 151,000 Associates in executing these initiatives. Additionally, the new brand positioning will support and help drive JCPenney's new 2007-2011 Long-Range Plan, which will be unveiled at the Company's analyst meeting in April.

"The past few years have been increasingly successful for JCPenney and we are once again one of the top retailers in the country. Now is the ideal time to build on what we have achieved and accelerate our growth," said Myron E. (Mike) Ullman, III, chairman and chief executive officer of JCPenney. "To do this, we are capitalizing on our greatest strength and competitive advantage: the spirit and talent of our 151,000 Associates. Through their daily actions, our Associates will bring 'Every Day Matters' to life by assisting customers in celebrating and appreciating the every day moments in their lives."

JCPenney discovered through its extensive customer research that customers are not just shopping -- they are seeking inspiration in the midst of their hectic daily lives. It's not just about the store, the products and the prices, but rather customers are looking for a trusted partner that will give them inspiration to create a better life for themselves and their families and will understand that life is not just about milestones -- it's about the little moments too.

Mr. Ullman continued, "Our customers want the moments in their lives to be more exciting and more meaningful. To address this, our mission will be to make JCPenney a source of encouragement and inspiration, offering style and quality at a smart price. We'll show our customers that what matters to them, matters to us."

"Every Day Matters" Integrated Marketing Campaign:

Launching Sunday, Feb. 25, to the 41 million viewers of the Academy Awards, JCPenney's integrated marketing campaign will introduce consumers to the Company's new brand positioning. Much more than just an advertising campaign, the "Every Day Matters"' ads premiering at the Academy Awards, of which JCPenney is the exclusive retail sponsor, will serve as the launch pad for a fundamental and comprehensive positioning of JCPenney's brand.

Leading the ads during the Academy Awards will be "Calendar," a 60 second anthem spot, which will kick off the Company's new brand positioning. Additionally, among many other JCPenney ads shown during the Academy Awards, will be the premiere of Ambrielle - the Company's new lingerie brand hitting stores this month.

"Our new campaign will show that we are not just looking to sell merchandise, we are looking to sell an experience," said Mike Boylson, chief marketing officer for JCPenney. "By focusing on life's little moments, we are able to show our customers how we can enhance their every day lives, helping them make each day richer and more inspiring."

Following the Academy Awards, viewers can expect to see the ads air over the next few weeks, reaching 89 percent of all women age 18 to 54 over 12 times. Translated to "Cada Dia Cuenta," the ads will also air Feb. 22 on the country's leading Spanish-language television network, Univision, during JCPenney's exclusive retail sponsorship of Premio lo Nuestro a la Musica Latina, the longest-running and most popular award show for the U.S. Hispanic audience, and will include a 30 second ad created exclusively for JCPenney's Hispanic customer. There will also be print ads appearing in key consumer magazines starting in March and modifications to the Company's e-commerce site, www.jcp.com, and external corporate site, www.jcpenney.net, to reflect the "Every Day Matters" positioning.

JCPenney developed its integrated marketing campaign with its new advertising agency-of-record, Saatchi & Saatchi.

About JCPenney

J. C. Penney Corporation, Inc., the wholly owned operating subsidiary of J. C. Penney Company, Inc., is one of America's largest department store, catalog, and e-commerce retailers, employing approximately 151,000 associates. As of Feb. 3, 2007, J. C. Penney Corporation, Inc. operated 1,033 JCPenney department stores throughout the United States and Puerto Rico. JCPenney is the nation's largest catalog merchant of general merchandise, and jcp.com is one of the largest apparel and home furnishings sites on the Internet. JCPenney refers to the Internet/catalog business as Direct.

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, competition, consumer demand, seasonality, economic conditions, including the price and availability of oil and natural gas, changes in interest rates, changes in management, retail industry consolidations, government activity, and acts of terrorism or war. 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. In addition, non-GAAP terms referenced are defined and presented in the Company's most recent annual report on Form 10-K.

SOURCE:
J. C. Penney Company, Inc.