SEATTLE, Wash. - November 15, 2001 - Leading fashion specialty retailer Nordstrom, Inc. announced today it has signed a letter of intent with Victoria Ward, Limited to open a full-line store at Victoria Ward Centers in fall 2005. Under a separate lease agreement, the retailer will also relocate and combine its two free-standing shoe stores in June 2002 from Ala Moana Center to Ward Centre. The Ward Centre shoe store will be incorporated into the Nordstrom store once it opens.

The company said that it has been actively seeking a site for a full-line store in Hawaii for the last ten years. "We have been fortunate to be a part of this community for more than 35 years and we’re pleased this agreement will finally allow us to better serve the needs of the local customer," said Blake Nordstrom, president, Nordstrom, Inc. "The redevelopment of Ward Centers is an incredibly exciting project and we believe it will offer customers a strong retail environment. We’re happy we’ll be a part of it."

Nordstrom began serving customers in Hawaii more than 35 years ago through its agreement to operate the Liberty House shoe departments. When Liberty House terminated the agreement in 1997, Nordstrom opened two free-standing shoe stores at Ala Moana Center, one for men and one for women and children. In August 2000, the retailer expanded its presence in Hawaii by opening its off-price retail store, Nordstrom Rack.

"These are exciting times for Victoria Ward Centers. We are in a period of customer-focused expansion and development, and now we are delighted to be welcoming Nordstrom into a greatly expanded role as an anchor tenant," said Mitch D’Olier, president and chief executive officer of Victoria Ward, Limited. "With its legendary Hawaii and nationwide reputation for customer service, selection, quality and value, Nordstrom will significantly enhance the quality and character of retailing in Hawaii. And by making this commitment now, I believe Nordstrom is casting a strong and very welcome vote of confidence in Hawaii and the prospects for our state’s economy."

Celebrating 100 years of service, Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 132 US stores located in 25 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 80 full-line stores, 45 Nordstrom Racks, four Façonnable boutiques, two free-standing shoe stores, and one clearance store. Nordstrom also operates 22 international Façonnable boutiques, primarily in Europe. Additionally, Nordstrom serves customers through its online presence at http://www.nordstrom.com and through its direct mail catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.