Article: J. C. Penney Corporation, Inc. Extends Debt Exchange Offer and Related Consent Solicitation and Accepts for Settlement Notes Tendered to Date.

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PLANO, Texas--(BUSINESS WIRE)--July 25, 2002

J. C. Penney Corporation, Inc., a wholly-owned subsidiary of J. C. Penney Company, Inc. (NYSE: JCP), announced today that it is extending until 5:00 p.m. (EDT), August 7, 2002, the expiration date of its offer to exchange new 9.000% Notes due 2012 (the "New Notes") for its outstanding 6.125% Notes due 2003, 7.375% Notes due 2004 and 6.900% Debentures due 2026 (collectively, the "Outstanding Notes") and its related consent solicitation seeking certain amendments to the indentures under which the Outstanding Notes were issued.

In addition, J. C. Penney Corporation, Inc. (the ...

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