October 15, 2001

For more information, contact:

John McDonald, SVP Finance & Treasurer
Juli Musch, Divisional Vice President
Investor Relations
(248) 463-1040

FOR IMMEDIATE RELEASE

KMART CORPORATION TO HOLD 2001 THIRD QUARTER CONFERENCE CALL

TROY, Mich., October 15, 2001 -- Kmart Corporation (NYSE: KM) will hold a conference call on Tuesday, November 27, 2001 at 9:00 a.m. eastern standard time to discuss its third quarter financial results.

Kmart normally has its quarterly earnings results conference call on the third Thursday after its quarter end. Due to the Thanksgiving holiday, Kmart will hold the third quarter conference call on Tuesday, November 27.

The telephone number for individuals interested in listening to the call is (913) 981-5507. 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 December 11, 2001 at 8:00 p.m. eastern standard time. The dial in number for the replay is (719) 457-0820 with the confirmation code 576787. 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 and through its e-commerce shopping site www.bluelight.com. More information about Kmart is available at www.bluelight.com under the “About Kmart” section.