Pershing Square Capital Management Announces Public Presentation on Target Corporation on Wednesday, October 29, 2008

    NEW YORK, Oct. 28 /CNW/ -- Pershing Square Capital Management, L.P.
announced today that it will host a public presentation on Wednesday, October
29, 2008 where it will detail a potential transaction that Pershing Square
believes will build long-term value for Target Corporation (NYSE:   TGT) and all
of its stakeholders.  All parties are welcome to attend the presentation,
which will be of particular interest to investors and analysts focused on
retail, real estate, fixed income and credit.
    Pershing Square is a long-term investor in Target.  Since acquiring its
initial stake in April 2007, Pershing Square has beneficially acquired
slightly less than 10% of the company's outstanding common stock.
    Target's thoughtful and constructive approach with shareholders has been
instrumental to Pershing Square's work in developing a potential transaction. 
Pershing Square believes that the insights gained by sharing the potential
transaction in a public forum will benefit Target and all of its stakeholders.
    The presentation will be based solely on publicly available information,
as well as assumptions, estimates and projections of Pershing Square.
    Due to limited available seating, attendees are encouraged to register in
advance at, but may also do so at the event
beginning at 12:30 PM.

    Date:              Wednesday, October 29, 2008
    Time:              Registration: 12:30 PM Presentation: 1:30 PM
    Place:             The AXA Equitable Auditorium
                       787 Seventh Avenue (between 51st and 52nd Streets)
                       New York, NY 10019
    A live webcast of the presentation will be available at
    A live audio broadcast of the presentation will be available by
teleconference.  The teleconference can be accessed in the United States by
dialing 1-866-682-9100 (internationally by dialing 201-499-0417), with the
participant access code of 2629412.
    Written materials describing the potential transaction will be made
available at following the presentation.
    About Pershing Square Capital Management, L.P.
    Pershing Square Capital Management, L.P., based in New York City, is a
SEC registered investment advisor to private investment funds.  Pershing
Square manages funds that are in the business of trading - buying and selling
- securities and other financial instruments.  Funds managed by Pershing
Square have long positions in stock, options and other financial instruments
tied to the performance of Target Corporation's stock.  Pershing Square has
and in the future may increase, decrease, dispose of, or change the form of
its investment in Target Corporation for any or no reason.


    Jeremy Robinson-Leon
    212-784-5702 (O)
    978-621-2569 (C)

    Julie Wood
    212-260-8813 (O)
    917-282-5840 (C)


For further information:

For further information: Jeremy Robinson-Leon, +1-212-784-5702 (O),
+1-978-621-2569 (C),; or Julie Wood, +1-212-260-8813
(O), +1-917-282-5840 (C),, both for Pershing
Square Capital Management, L.P. Web Site:

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