Nordstrom Announces Partnership With Two Japanese Retailers to License Exclusive-Branded Product in Japan.

SEATTLE, June 23 /PRNewswire/ -- Nordstrom, (NYSE: JWN) one of the nation's leading fashion specialty retailers, announced today that it is entering into a partnership with The Seibu Department Stores, Ltd. and The Daimaru, Inc. to introduce select Nordstrom exclusive-branded products in Japan. Seibu and Daimaru will be the exclusive licensees of Nordstrom product available in Japan. The agreement is currently being finalized.

"We look forward to being able to offer customers in Japan a selection of current, quality merchandise that will meet their lifestyle needs and fashion sensibilities," said Gail Cottle, executive vice president, general manager Nordstrom Product Group. "This venture presents us with a great opportunity to further grow our brands."

"Quality, fashion merchandise at reasonable prices to meet the needs of career women is a niche which has gone unfulfilled in the Japanese marketplace," said Mr. Hiroshi Kometani, Chairman of Seibu. Mr. Tsutomu Okuda, President of Daimaru said, "We believe that Nordstrom exclusively-branded products directly fill this niche, which represents one of the fastest growing segments in the Japanese retail environment."

This venture allows Nordstrom to present and position its product with strong and reputable merchants since Seibu and Daimaru are Japan's leading retailers. The partnership also allows Nordstrom to achieve greater distribution of its product throughout Japan since Seibu has retail locations in Eastern Japan and Daimaru has retail locations in Western Japan.

Both Japanese retailers will carry Classiques Entier, a successful Nordstrom brand, as well as a new men's exclusive brand which will be announced later this year. Salespeople from Daimaru and Seibu will be trained at Nordstrom in the United States about the product offering. Together, all three partners will develop an appropriate branding and marketing campaign for the Japanese market.

Nordstrom does not currently have plans to open full-line stores in Japan or internationally.

Nordstrom: Nordstrom Inc. is a fashion specialty retailer with 99 stores located in 22 states, including 68 full-line stores, 25 Nordstrom Racks, three Faconnable boutiques, two free-standing shoe stores, and one clearance store. It also offers two direct sales catalogs -- Nordstrom, the Catalog and Nordstrom 2nd Nature -- and has an Internet presence at http:\\www.nordstrom.com.

Seibu: Since it was established in 1940, Seibu has always maintained contact with people through its stores, deeply involved itself with local communities, and responded to the diversifying needs of the market. Now under the system of chain operation management aimed at perpetual growth as a corporation in the 21st century, Seibu is set to promote its unique strategy to provide values to customers. As of June 1, 1999, Seibu has 23 stores nationwide.

Daimaru: Daimaru has a three hundred-year history of retail in Japan. Central to this history and core to the company's success is its continued ability to provide excellent service and superior merchandise for its customers. Daimaru continually looks for ways to improve its relations with and the satisfaction of its customers. The head office is in Osaka and has 17 domestic stores and 5 overseas stores as of June 1999. Its annual sales came to 504.77 billion yen in fiscal 1997.