Target Selects Initial Zellers Leases, Vast Majority to Become Target Stores

MINNEAPOLIS, May 26, 2011 -Target Corporation announced the selection of its initial group of Zellers sites, representing 105 locations in all 10 provinces across Canada. The vast majority of these stores will become Target stores after securing the necessary construction approval for extensive renovation and will open beginning in 2013.

In accordance with its real estate transaction to acquire up to 220 leaseholds from Zellers Inc. announced earlier this year, Target has the right to select up to 110 sites in conjunction with the first payment and will continue to select additional leases in advance of the second payment this fall.