Target Selects Initial Zellers Leases; Majority to Become Target Stores

Target Corporation TGT announces the selection of its initial group of Zellers sites, representing 105 locations in all 10 provinces across Canada. The vast majority of these store sites will become Target stores after securing the necessary construction approval for extensive renovation and will open beginning in 2013. Target expects to finalize the acquisition of these initial sites in the coming days and pay half of the C$1.825 billion purchase price.