Troy, Michigan, May 3, 2001 — Kmart Corporation (NYSE: KM) will hold a conference call on Thursday, May 17, 2001 at 9:00 a.m. eastern standard time to discuss its first quarter financial results.

The telephone number for individuals interested in listening to the call is (913) 981-5507 with the password number 413896. Callers are requested to dial in at least 15 minutes prior to the scheduled start time. A replay of the conference call will be available until May 24, 2001 at 9:00 p.m. eastern standard time. The dial in number for the replay is (719) 457-0820 with the confirmation code 413896. The call will also be simulcast at http://www.kmart.com/corp/investor/general/conference.stm.

Kmart Corporation is a near-$40 billion company that serves America with more than 2,100 Kmart and Kmart supercenter retail outlets. In addition to serving all 50 states, Kmart operations extend to the Caribbean Islands and Asia Pacific. More information about Kmart is available on the World Wide Web at www.bluelight.com in the ''About Kmart'' section.