Target Corporation Reiterates Steadfast Commitment to Target India

MINNEAPOLIS -- Target Corporation (NYSE: TGT) today firmly restated its commitment to its Target India team and operation, which employs about 2,100 team members in Bangalore. The company emphatically refutes the irresponsible rumor that it is engaged in any discussions, or has any plans, to sell its Target India operations. In fact, Target continues to more deeply integrate the work of its Bangalore teams with its U.S.-based teams, bringing the teams, sites and work even closer together. These activities and strategic direction demonstrate our commitment to our operations in Target India and are completely counter to this persistent, inaccurate rumor.

“Our captive center in Bangalore continues to be an important part of our long-term strategy and is highly integrated with our work and team in Minneapolis,” said Beth Jacob, EVP and chief information officer of Target Corporation.

“We do not know the source of this ridiculous speculation, but we can absolutely reaffirm that it is unequivocally not true,” said Tim Baer, EVP and General Counsel of Target Corporation.

Target Corporation’s retail segment includes large general merchandise and food discount stores and Target.com, a fully integrated on-line business. In addition, the company operates a credit card segment that offers branded proprietary and Visa credit card products. The company currently operates 1,744 Target stores in 49 states.

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