J. C. Penney Company, Inc. (NYSE: JCP) today announced the appointment of Pam Mortensen as senior vice president and general merchandise manager of Fine Jewelry, effective July 27, 2009. Ms. Mortensen comes to JCPenney from Wal-Mart Stores, Inc., where she previously served as vice president and divisional merchandise manager of their Fine Jewelry and Watch division. She will report to Jeff Allison, executive vice president and general merchandise manager of home and custom decorating.

Myron E. (Mike) Ullman, III, chairman and chief executive officer, said, “Pam Mortensen is a veteran retailing executive who brings to JCPenney a strong track record of success in fine jewelry retailing based on a deep understanding of what customers want for themselves and in their gift selections. She shares our dedication to offering an assortment that reflects style and quality at prices that make sense for our customers’ budgets. We are delighted to welcome her to our team and look forward to benefitting from her expertise and leadership.”

Ms. Mortensen added, “JCPenney has long been known as a leader in fine jewelry retailing for Middle America, based on the great appeal of its selection and the value it offers. It is a wonderful opportunity for me to help build on the success of the Jewelry Store inside JCPenney today and to further build its market share when the environment improves.”

Prior to her role at Wal-Mart, which she took in 2002, Ms. Mortensen spent five years as vice president, divisional merchandise manager, for Service Merchandise, leading their Home Division. She had previously spent 12 years as a senior buyer in the Bailey, Banks, and Biddle division of Zale Corporation, with responsibility for bridal, fashion jewelry and watches. She began her career as a buyer at Sanger-Harris Federated Department Stores, where she spent 12 years. Ms. Mortensen received her B.S. degree from the University of Arkansas in 1977.

About JCPenney

JCPenney is one of America's leading retailers, operating 1,101 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, and the nation's largest general merchandise catalog business. Through these integrated channels, JCPenney offers a wide array of national, private and exclusive brands which reflect the Company's commitment to providing customers with style and quality at a smart price. Traded as "JCP" on the New York Stock Exchange, the Company posted revenue of $18.5 billion in 2008 and is executing its strategic plan to be the growth leader in the retail industry. Key to this strategy is JCPenney's "Every Day Matters" brand positioning, intended to generate deeper, more emotionally driven relationships with customers by fully engaging the Company's approximately 150,000 Associates to offer encouragement, provide ideas and inspire customers every time they shop with JCPenney.

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