28.10.2008 – 14:00

Pershing Square Capital Management, L.P.

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

New York (ots/PRNewswire)

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 www.visualwebcaster.com/pstgt, 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
www.visualwebcaster.com/pstgt.

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
+1-201-499-0417), with the participant access code of 2629412.

Written materials describing the potential transaction will be
made available at www.visualwebcaster.com/pstgt 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.

CONTACT:
    Jeremy Robinson-Leon
    +1-212-784-5702 (O)
    +1-978-621-2569 (C)
     Jeremy@groupgordon.com
    Julie Wood
    +1-212-260-8813 (O)
    +1-917-282-5840 (C)
     Jwood@globalstrategygroup.com

Web site: http://www.visualwebcaster.com/pstgt

Contact:

Jeremy Robinson-Leon, +1-212-784-5702 (O), +1-978-621-2569 (C),
Jeremy@groupgordon.com; or Julie Wood, +1-212-260-8813 (O),
+1-917-282-5840 (C), Jwood@globalstrategygroup.com, both for Pershing
Square Capital Management, L.P.