Macy's Inc.

Terry J. Lundgren assumed the title of chairman, president and CEO of Macy's, Inc. in January 2004. Prior to this, he served as president and chief operating officer, a title he assumed in March 2003 after having served as president and chief merchandising officer since May 1997. Lundgren began his retailing career in 1975 as a trainee with Bullock's, a Los Angeles based division of Federated. He held positions of increasing responsibility over the next decade in buying, store management, human resources and senior-level store management, as well as serving as the division's director of stores. Lundgren was named senior vice president and general merchandising manager of Bullock's in 1984. In 1987, he was named president and CEO of Bullocks Wilshire, then an upscale chain of specialty department stores owned by Federated. Lundgren left Federated in 1988 to join Neiman Marcus, where he served as executive vice president and shortly thereafter was named chairman and CEO. He returned to Federated in April 1994 as chairman and CEO of the Federated Merchandising Group.

Karen M. Hoguet was elected executive vice president and chief financial officer of Macy's, Inc. in May 2005. She is responsible for all of the company's financial functions, as well as Area Research. Previously, Hoguet served as senior vice president and chief financial officer, a position she had held since 1997. Hoguet joined the company in 1982 from the Boston Consulting Group and served in a range of financial management capacities, including senior vice president for planning and treasurer of the corporation.

CRAIG E. WEATHERUP, 63, has been a Starbucks director since February 1999. Mr. Weatherup worked with PepsiCo, Inc. for 24 years and served as chief executive officer of its worldwide Pepsi-Cola business and President of PepsiCo, Inc. He also led the initial public offering of The Pepsi Bottling Group, Inc., where he served as chairman and chief executive officer from March 1999 to January 2003. Mr. Weatherup also serves on the board of directors of Macy’s, Inc.

Prior Professional Experience: Previously, Mr. Bollenbach served in the following positions: - Co-Chairman and Chief Executive Officer of Hilton Hotels Corporation – 2004 to 2007. - President and Chief Executive Officer, Hilton Hotels Corporation – 1996 to 2004. - Senior Executive Vice President and Chief Financial Officer, The Walt Disney Company – 1995 to 1996. - President and Chief Executive Officer, Host Marriott Corporation – 1993 to 1995. - Chief Financial Officer, Marriott Corp. – 1992 to 1993. • Company Directorship: Mr. Bollenbach is an Independent Director. He was a Director of Historic TW from 1997 until the AOL-Historic TW Merger in January 2001, and has been a Director of the Company since that date. • Other Directorships: Mr. Bollenbach serves as Chairman of the Board of KB Home, and as Director of Harrah’s Entertainment, Inc. and Macy’s, Inc.