MINNEAPOLIS, Feb 20, 2003 /PRNewswire-FirstCall via Comtex/ -- Beginning with its fiscal 2002 earnings results, released today, Target Corporation is providing additional disclosure related to its credit card operations. The additional disclosure for Target Visa and for our proprietary credit cards, which will be provided on a quarterly basis going forward, includes:

• Credit card revenues ($s and as a percent of average receivables);
• Net write-offs ($s and as a percent of average receivables); and
• Delinquency rates (3 or more payments past due).

To provide a historical perspective for this new disclosure, the company is providing quarterly and annual results for 2002 in the table that follows.

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 1,475 stores in 47 states. This includes 1,147 Target stores, 264 Mervyn's stores and 64 Marshall Field's.

Target Corporation news releases are available at www.target.com or www.prnewswire.com .

                              Target Corporation
                   Credit Card Operations Supplemental Data
                                 Fiscal 2002

                                                   (unaudited)
                                                                        Year
    (Millions)                              Three Months Ended          Ended
                                   05/04/   08/03/   11/02/    02/01/   02/01/
                                    2002     2002     2002      2003     2003
    Total revenues:
      Target Visa                  $107     $136      $171      $212     $626
      Proprietary Cards            $173     $164      $163      $171     $671
    Total revenues as a percent
      of average receivables
      (annualized):
      Target Visa                  23.7%    23.6%     24.0%     24.0%    23.8%
      Proprietary Cards            29.7%    30.5%     31.2%     31.3%    30.4%
    Net write-offs:
      Target Visa                   $10      $27       $49       $65     $151
      Proprietary Cards             $43      $41       $41       $46     $171
    Net write-offs as a percent
      of average receivables
      (annualized):
      Target Visa                   2.2%     4.8%      6.9%      7.3%     5.8%
      Proprietary Cards             7.3%     7.5%      7.9%      8.4%     7.7%
    Past due:*
      Target Visa                   1.6%     2.4%      3.0%      3.1%     3.1%
      Proprietary Cards             4.9%     5.2%      5.6%      5.1%     5.1%

    *  Balances on accounts with three or more payments past due as a percent
       of total outstanding is one of many measures management uses to measure
       portfolio performance.

SOURCE Target Corporation

CONTACT:
Susan Kahn, investor, +1-612-761-6735, or Cathy Wright,
financial media, +1-612-761-6627, both of Target Corporation

http://www.target.com

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