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JANUARY/FEBRUARY 2003

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INDUSTRY UPDATE
Sears, Roebuck and Co. Opens Washington, D.C. Government Affairs Office
Kenneth T. Gear to Lead Local Operations

HOFFMAN ESTATES, Ill., Jan. 22 /PRNewswire/—Sears, Roebuck and Co. has opened a government affairs office in Washington, D.C. at 1725 I Street, NW, Suite 300. The new office is an extension of Sears' government affairs group based in the company's Hoffman Estates, Ill. headquarters.

Kenneth T. Gear, director, federal government affairs, will lead operations at the Washington, D.C. office. Gear reports to Russell Davis, national director, legislative affairs, who heads the company's government affairs department. Gear, an attorney, is responsible for federal government affairs issues and is the company's primary liaison with Members of Congress, the executive branch and federal agencies. Prior to assuming this role, Gear worked for two years at Sears' headquarters, managing the company's government affairs issues in 25 states throughout the country. Before joining Sears in 2000, Gear served as vice president and counsel to the Retailers Association of Massachusetts.

In addition to Gear, Sears is represented in Washington, D.C. by the OBC Group. Sears is a member of the National Retail Federation, Direct Marketers Association, American Financial Services Association and 48 state retail associations across the country.

Sears, Roebuck and Co. is a broadline retailer with significant service and credit businesses. In 2002, the company's annual revenue was more than $41 billion. The company offers its wide range of apparel, home and automotive products and services to families in the U.S. through Sears stores nationwide, including approximately 870 full-line stores. Sears also offers a variety of merchandise and services through its Web site, sears.com. In June 2002, Sears acquired Lands' End, a direct merchant of traditionally styled, classic Lands' End clothing offered to customers around the world through regular mailings of its specialty catalogs and online at landsend.com.

 
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