May Company June Comps Decrease 5.9%

The May Department Stores Company reported preliminary net sales of $1.13 billion for the five-week period ended July 5, 2003, a 4.0% decrease from $1.18 billion in the similar period last year. Store-for-store sales decreased 5.9%.

Net sales for the first five months of fiscal 2003 were $5.01 billion, a 5.5% decrease compared with $5.30 billion in the similar period last year.

Net sales were as follows:

                        Fiscal       Fiscal   Percent Store-for-Store
     (dollars
      in millions)        2003         2002    Decrease     Decrease

     June             $1,131.9     $1,178.7      (4.0)%       (5.9)%
     Year-to-date      5,009.6      5,300.2      (5.5)        (7.2)

Net sales include merchandise sales and lease department income. Store-for-store sales compare sales of stores open during both years beginning the first day a new store has prior-year sales and exclude sales of stores closed during both years.