Carson Pirie Scott & Co. obtains summary judgement in lawsuit against Bank One

Business Wire, July 28, 1995

MILWAUKEE--(BUSINESS WIRE)--July 28, 1995--Carson Pirie Scott & Co. (NYSE:CRP) today announced that the United States Bankruptcy Court for Eastern District of Wisconsin granted Carson's motion for summary judgement in the amount of $37,565,000, plus costs, against Bank One, Milwaukee, N.A. in the case of P.A. Bergner & Co. Holding Co. et al., v. Bank One, Milwaukee, N.A. (Adversary No. 93-2323).

The court's ruling is subject to possible motions and appeals. Also, Bank One Milwaukee has asserted that Carson's recovery is subject to a 33% reduction in accordance with the distribution Bank One Milwaukee would receive as an unsecured creditor under Carson's chapter 11 plan of reorganization that was confirmed and consummated in 1993.

Carson commenced its lawsuit against Bank One MIlwaukee before Carson emerged from chapter 11 proceedings in 1993. In the lawsuit, Carson alleges that Bank One Milwaukee illegally setoff Carson's account immediately prior to the filing of Carson's August 1991 chapter 11 reorganization petition. Carson seeks recovery from Bank One Milwaukee of $37,565,000 and other amounts and remedies.

Carson Pirie Scott & Co., a major department store retailer, operates 51 department stores and two furniture stores; 30 Carson Pirie Scott stores in Greater Chicago, Indiana and Minnesota; 13 Bergner's stores in downstate Illinois and Wisconsin; and 10 Boston Stores in Wisconsin.

CONTACT: Carson Pirie Scott & Co.

Charles J. Hansen

General Counsel

414/347-5307

or

Edward P. Carroll, Jr.

E.V.P.-Marketing

414/347-5340