MINNEAPOLIS, Jan. 9 /PRNewswire/ -- The board of directors of Target Corporation (NYSE: TGT) has declared a quarterly dividend of 6 cents per common share. The dividend is payable March 10, 2003 to shareholders of record February 20, 2003. The first quarter dividend will be the company's 142nd consecutive dividend paid since October 1967, when the company became publicly held.

Target Corporation operates large-store general merchandise formats, including discount stores, moderate-priced promotional and traditional department stores, as well as a direct mail and on-line business called target.direct. The company currently operates 1,476 stores in 47 states. This includes 1,148 Target stores, 264 Mervyn's stores and 64 Marshall Field's.

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/CONTACT: Investors, Susan Kahn, +1-612-370-6735, or Financial Media, Cathy Wright, +1-612-370-6627, both for Target Corporation/

/Web site: http://www.target.com/