jcpenney Gifts Cards Have No Service Fees and Never Expire

E-Gift Cards Also Available

PLANO, Texas (Nov. 24, 2008) – Gift cards from J. C. Penney Company, Inc. (NYSE: JCP) make shopping easier than ever this Christmas. Easy to give and receive, jcpenney gift cards remove guesswork for gift-givers, allowing recipients to easily select their perfect gift from jcpenney’s exciting array of merchandise and in-store services.

“With no added fees or expiration date, jcpenney gift cards provide an easy and convenient shopping option for customers seeking flexibility in celebrating the joy of giving by enabling recipients to redeem the card for any jcpenney purchase, including an exciting array of jcpenney home and apparel merchandise – including our ‘red box gifts™’ collection – as well as services such as Sephora inside jcpenney, salon, optical, custom decorating and portrait studio,” said Ken Hicks, president and chief merchandising officer for jcpenney. “With approximately 1,100 stores across the country, along with jcp.com one of the largest home and apparel merchandise site on the Internet as well as the largest catalog business in the country, jcpenney customers can give the ones they love a gift card from a dependable, trusted retailer like jcpenney.”

Why jcpenney Gift Cards?:

• Good as Gold – jcpenney gift cards do not expire, do not include any additional service fees and can be easily reloaded in-store at anytime.

• Give Choices – Along with free gift card holders, jcpenney gift cards come in a variety of new styles including Christmas-inspired designs such as Rudolph the Red-Nosed Reindeer; a North Pole Santa license plate; a “Peace on Earth” design; or a Feliz Navidad design.

• The Ultimate Convenience – For true last-minute gift purchases, jcp.com offers the ultimate in speed and convenience: e-gift cards. Once purchased, an e-gift card lands in a customers’ e-mail inbox in a matter of hours and can be forwarded to a recipient to use for online purchases or printed out to use in stores.

• Treat Yourself Too – jcpenney is offering customers who purchase a gift card of $25 or more in value a discount on three special seasonal gifts: a special Christmas necklace for $3.99; a Christmas tableware set for $4.99; or a Christmas dessert plate set for $4.99.

jcpenney gift card recipients can choose from jcpenney’s broad array of exciting merchandise and convenient in-store services:

• “red box gifts™”– Taking jcpenney’s gift assortment to a new level, jcpenney’s “red box gifts™” are available in-store, online and via catalog – and feature unique items such as a 2GB mp3 player, Sharper Image digital photo keychain, pet’s view camera and the My Sports Gaming System, a 5-in-1 interactive sports game system with wireless remote controls that responds to your movement

• Must-have Brands – Gift card recipients can choose from jcpenney’s vast assortment of today’s must-have brands. Along with its Sephora inside jcpenney and American Living concepts, jcpenney carries national brands such as Levi’s, Nike, and adidas; private brands including Worthington, Stafford, Linden Street and Decree; and exclusive brands such as Fabulosity by Kimora Lee Simmons and nicole by Nicole Miller.

• Convenient in-store Services – Unlike other retailers, gift cards from jcpenney are good for more than just merchandise. Gift card recipients can redeem their cards for a variety of convenient in-store services such as a new haircut and color at one of jcpenney’s salons; new eyewear, contacts or an eye exam at jcpenney Optical; a family portrait or photo greeting card at one of jcpenney’s portrait studios; a new living room or bedroom look with the help of a jcpenney custom decorating professional; or beauty products and/or a makeover at a Sephora inside jcpenney.

For further information contact:

jcpenney Corporate Communications (business and trade media relations):
Rebecca Winter, Quinton Crenshaw or Kate Parkhouse; 972-431-3400; jcpcorpcomm@jcpenney.com

About jcpenney
jcpenney is one of America's leading retailers, operating 1,093 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 approximately $19.9 billion in 2007 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 155,000 associates to offer encouragement, provide ideas and inspire customers every time they shop with jcpenney. For more information visit www.jcpenney.net