MINNEAPOLIS, Nov. 9 /PRNewswire/ -- The board of directors of Target Corporation (NYSE: TGT) has declared a quarterly dividend of 5 1/2 cents per common share. The dividend is payable December 10, 2000 to shareholders of record November 20, 2000. The fourth quarter dividend will be the company's 131st 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. The company currently operates 1,309 stores in 46 states. This includes 978 Target stores, 267 Mervyn's stores and 64 Department Stores.

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CONTACT: Susan Kahn of Target Corporation, 612-370-6735/