PLANO, Texas, April 8, 2003 โ€” The JCPenney Modelo Mundial-World Modelโ„ข 2003 program (www.jcpenneymodelomundial.com) will open a world of opportunity for a select group of young Hispanic men and women this spring. Winners of the competition will score scholarships of up to $10,000, modeling opportunities and other great prizes.

Contestants from 23 markets across the United States, Puerto Rico and Mexico will compete for spots in the Modelo Mundial โ„ข Fiesta Finals on June 28, 2003, in Miami, Florida.

Forty-six semifinalists will travel to Miami for the final competition, hosted by Karla Martinez of the popular, teen-focused Univision program โ€œControlโ€ and featuring entertainment by Pilar Montenegro, winner of numerous accolades including female artist of the year in pop and regional Mexican genres at the 2003 Premios lo Nuestro.

This marks the 14th year that JCPenney has been associated with a model search targeted to the fast-growing Hispanic youth market. The retailer is launching Modelo Mundialโ€”World Modelโ„ข as a dual-focus program, concentrating on contestants’ educational accomplishments and goals while offering them an opportunity to gain exposure to the world of fashion.

Registration begins April 16 and continues through May 17. The model search is open to young men and women of Hispanic descent between the ages of 16 and 21 who are currently enrolled as students in good standing in high school or an institution of higher learning and who have not modeled professionally. A panel of judges will select the local winners based on their accomplishments, educational and career goals. Applications can be obtained at JCPenney department stores in the following markets:

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Albuquerque

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Chicago

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Dallas/Fort Worth

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Denver

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El Paso

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Houston

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Las Vegas

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Lรฉon, Mexico

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Los Angeles/San Diego

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McAllen/Harlingen/Brownsville

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Mexico City, Mexico

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Monterrey, Mexico

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Miami

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New Jersey/New York

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Orlando

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Phoenix/Tucson

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Puerto Rico

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Sacramento/Fresno

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Salt Lake City

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San Antonio

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San Francisco/San Jose

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Tampa

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Washington, D.

C.

The vision of this program is to build the JCPenney reputation within the Hispanic community. The model search hopes to increase the loyalty of not only the young students who can develop into lifelong JCPenney shoppers but the loyalty of their parents as well.

โ€œBy teaming with Univision and our other sponsors, we are making this program Bigger, Bolder and Better to make it more exciting to the contestants and more visible in this important segment of our customer base,โ€ said Vicki Lynn Cartwright, Director of Modelo Mundial โ„ข for JCPenney.

Univision, the premiere Spanish-language network in the U.S., will present each of the top male and female Modelo Mundial โ„ข winners with a $10,000 college scholarship and a professional photo portfolio. The winners also will appear in a fashion segment on Univision’s โ€œControl,โ€ receive a $1,000 JCPenney wardrobe, Hispanic, and have the opportunity to appear in future JCPenney advertising. The male and female runners-up will each receive a $5,000 Univision scholarship and a $500 JCPenney wardrobe, among other gifts.

National co-sponsors of Modelo Mundialโ€”World Modelโ„ข are the Havanera Co.โ„ข, Reebokยฉ, Muddยฎ, The Original Arizona Jean Co.ยฎ,, Hispanic, and American Airlinesยฎ, the official airline of Modelo Mundial-World Modelโ„ข.

โ€œParticipating in this program can be a positive experience and a confidence-builder for a young man or woman,โ€ said Ms. Cartwright. โ€œNot only do the winners earn scholarships, but all the participants have an opportunity to learn something about the fashion business, modeling, and most importantly, themselves.

It is an opportunity for the contestants to model their future and fashion their dreams.โ€

Previous winners have springboarded to successful careers in modeling and acting, including 1999 winner, Denise Quinones, who went on to represent Puerto Rico in the Miss Universe pageant and was crowned Miss Universe in 2001.

J. C. Penney Corporation, Inc., the wholly-owned operating subsidiary of the Company, is one of America’s largest department store, drugstore, catalog, and e-commerce retailers, employing approximately 230,000 associates.

As of January 25, 2003, it operated 1,049 JCPenney department stores throughout the United States, Puerto Rico, and Mexico, and 54 Renner department stores in Brazil. Eckerd Corporation operated 2,686 drugstores throughout the Southeast, Sunbelt, and Northeast regions of the U.S. JCPenney Catalog, including e-commerce, is the nation’s largest catalog merchant of general merchandise. J. C. Penney Corporation, Inc. is a contributor to JCPenney Afterschool Fund, a charitable organization committed to providing children with high quality after school programs to help them reach their full potential.