Hispanic Association on Corporate Responsibility

Ann Marie Tallman Joins JCPenney Board of Directors

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Published on August 21, 2006

J. C. Penney Company, Inc. (NYSE:JCP) announced that Ann Marie Tallman, a highly accomplished leader in the public, private and non-profit sectors, joined Company's Board of Directors. Ms. Tallman, an attorney, most recently served as president and general counsel of the Mexican American Legal Defense and Educational Fund (MALDEF).

“Ms. Tallman is an innovative leader and a compelling advocate of equal rights for all people,” said Myron E. (Mike) Ullman, III, chairman and chief executive officer of JCPenny. “Her broad-based business expertise in finance, governance, and marketing, coupled with a deep understanding of the Latino market will be a significant value to our Board. We look forward to Ms. Tallman's contributions as we continue to make JCPenney a great place to work and a top retailer in terms of performance and execution."

Ms. Tallman has been actively involved with the Latino community and MALDEF for more than 18 years. Also a financial services expert, Ms. Tallman held the position of senior vice president with mortgage lending giant, Fannie Mae. In this position, Ms. Tallman led Fannie Mae's Single Family Mortgage Business for the Western United States, which covered 25 states west of the Mississippi River. Prior to that, Ms. Tallman held various executive positions at the Fannie Mae Corporation and was president and chief executive officer for the Fannie Mae Foundation, a non-profit organization in Washington, D.C., where she directed five offices and a $400 million endowment.