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Target Urges Shareholders To Support The Four Target Nominees to the Board


MINNEAPOLIS, May 26, 2009 – Target Corporation (NYSE:TGT) reminded its shareholders to use their WHITE proxy card to vote FOR Target’s nominees – Mary N. Dillon, Richard M. Kovacevich, George W. Tamke, and Solomon D. Trujillo – to the Board of Directors and FOR the proposal to set the size of the Target Board at 12.  Target urges shareholders not to return any proxy card sent to them by Pershing Square.


As Target’s 2009 Annual Meeting of Shareholders is fast approaching, it is extremely important that shareholders vote as soon as possible.  The Company asks that shareholders please vote by telephone or Internet according to the instructions on the WHITE proxy card, or by signing, dating and mailing the WHITE proxy card.  Even if shareholders have already voted using the dissident proxy card, they have the right to change their vote simply by executing and submitting the WHITE proxy card, as only the last dated proxy card will count.  Since the Annual Meeting date is May 28, voting by telephone or internet is more likely to ensure that shareholders’ votes will be counted.


“We ask all our shareholders to remember that every vote is important in determining the future course of their Company,” said Gregg Steinhafel, Target’s Chairman, President and Chief Executive Officer.  “We are confident in our slate of independent, experienced nominees and the strategy they have helped to shape.  Target’s nominees all have significant leadership experience that is highly relevant to Target’s strategy for delivering continued profitable growth and generating substantial shareholder value over time.”


Target would like to thank all the shareholders who have voted for the Board nominees, including those who have publicly announced their support or privately expressed their intent to vote for all four of the Target directors standing for election at the 2009 Annual Meeting.


As previously announced, Target’s 2009 Annual Meeting of Shareholders will be held at 1:00 p.m., Central Daylight Time, on Thursday, May 28, 2009 at the Target Store located at 1250 West Sunset Drive, Waukesha, Wisconsin.


Shareholders who have questions about voting or the matters to be voted upon at the Annual Meeting are encouraged to call MacKenzie Partners, Inc. at 800-322-2885 Toll-Free or Georgeson at 866-295-8105 Toll-Free.


About Target


Target Corporation’s retail segment includes large general merchandise and food discount stores and Target.com, a fully integrated on-line business. In addition, the company operates a credit card segment



that offers branded proprietary and Visa credit card products. The company currently operates 1,698 Target stores in 49 states. Target Corporation news releases are available at www.target.com.


Important Information

Target, its directors, and certain of its officers and other employees are participants in the solicitation of proxies from Target’s shareholders in connection with Target’s 2009 Annual Meeting.  Important information concerning the identity and interests of these persons is available in the proxy statement that Target filed with the SEC on April 21, 2009 and the Schedule 14A that Target filed with the SEC on May 7, 2009.


Target has filed a definitive proxy statement in connection with its 2009 Annual Meeting.  The definitive proxy statement, any other relevant documents, and other materials filed with the SEC concerning Target are available free of charge at http://www.sec.gov and http://investors.target.com.  Shareholders should read carefully the definitive proxy statement and the accompanying WHITE proxy card before making any voting decision.



John Hulbert

Susan Kahn


(612) 761-6627

(612) 761-6735




Joele Frank / Tim Lynch


Joele Frank, Wilkinson Brimmer Katcher


(212) 355 4449