J. C. PENNEY COMPANY, INC. NAMES KRISTEN BLUM EXECUTIVE VICE PRESIDENT AND CHIEF TECHNOLOGY OFFICER

PLANO, TX, Jan. 18, 2012 – J. C. Penney Company, Inc. ("jcpenney") (NYSE: JCP) today announced that Kristen E. Blum has been named executive vice president and chief technology officer, effective Jan. 23, 2012. With more than 25 years of experience at leading consumer goods and retail companies, including PepsiCo, Abercrombie & Fitch and Apple, Inc., Ms. Blum brings exceptional experience and expertise in business enterprise and information technology solutions to jcpenney.

Ms. Blum reports to Chief Operating Officer Mike Kramer, and has responsibility for the Company's jcp.com business and information technology systems.

Mr. Kramer said, "The transformation underway at jcpenney relies heavily on having the best-performing, most effective technology to support our critical business functions and enhance our shopping experience. We are fortunate to have a solid technological infrastructure in place, and there is no one more talented or qualified in our industry to further develop and expand our capabilities than Kristen Blum. Having worked with her for many years, I have seen firsthand Kristen's extraordinary ability to match strategic business objectives with technological solutions. We are thrilled to have her on board."

Ms. Blum said, "jcpenney is the most exciting place to be in retail today. With the Company's strong IT platform already in place, we will now turn up our imagination and wholeheartedly embrace the digital revolution to create an entirely new experience for our customers while simplifying processes for our associates. I am thrilled to join the jcpenney team to make this a reality."

Ms. Blum, 46, was most recently SVP, chief information officer, Enterprise Transformation at PepsiCo. From 2006 to 2010, she was SVP, chief information officer at Abercrombie & Fitch, where she served on the CEO's Leadership Team and was responsible for the strategic transformation of people, process and technology in support of international growth initiatives. Prior to that, Ms. Blum spent four years at Apple, Inc. as director of Supply Chain Solutions and International Retail, overseeing technology supporting global operations and the development of systems supporting Apple retail. From 1999 to 2002, she was a senior manager at KPMG/Bearing Point, consulting for clients in the retail, consumer and high-tech industries. She has also held merchandising, planning and allocation roles at Planet Hollywood, Walt Disney and Victoria's Secret.

Ms. Blum received a B.A. from The Ohio State University. She is a member of the National Retail Federation's CIO Council and a Governing Body Member of the CIO Summit, among other leadership roles in CIO-focused organizations. She is also a member of the Board of Directors of Big Brothers Big Sisters of North Dallas.

About J. C. Penney Company, Inc.

J. C. Penney Company, Inc., one of America's leading retailers, operates over 1,100 jcpenney department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com. Serving more than half of America's families each year, the jcpenney brand offers a wide array of private, exclusive and national brands. For more information, visit www.jcpenney.net.
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Media Relations
Darcie Brossart and Rebecca Winter
(972) 431-3400
jcpcorpcomm@jcpenney.com

Investor Relations
Kristin Hays and Angelika Torres
(972) 431-5500
jcpinvestorrelations@jcpenney.com
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