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Laughlin Joins Sears as VP Corporate Finance and Development

                     Raymond Promoted To VP and Treasurer

    HOFFMAN ESTATES, Ill., July 7 /PRNewswire/ -- Sears, Roebuck and Co.
(NYSE: S) announced that Joseph E. Laughlin joined the company as vice
president of corporate finance and development, effective July 1.  He has
responsibility for business development, mergers and acquisitions and treasury
functions.  Laughlin, 34, has been senior vice president and manager of
distribution strategy and retail partner management group at Wells Fargo Bank
since 1997.  He joined the bank in 1992, and served as vice president --
manager of credit administration MIS and credit policy, senior vice president
and director of strategic planning and senior vice president and manager --
in-store banking group prior to assuming his last position.
    "Joe brings a wealth of experience that will be invaluable to Sears as we
continue to transform the company for the 21st century," said Julian C. Day,
executive vice president and chief financial officer, to whom Laughlin will
report, "and we're very pleased to have such a  dynamic executive join our
organization."
    Prior to Wells Fargo, Laughlin was special assistant to the director of
the Office of Thrift Supervision in Washington, D.C. from 1990 to 1992, and a
senior consultant at Booz, Allen & Hamilton, Inc. from 1988 to 1990.
    Laughlin holds B.A. degrees in economics and finance from Catholic
University, an M.B.A. degree in finance and investments from George Washington
University and a graduate degree in banking from the American Bankers
Association's Stonier Graduate School of Banking.
    He and his wife, Colleen, and their five children reside in Lake Forest,
Ill.
    Sears also announced that Larry R. Raymond, formerly assistant treasurer
-- capital markets, was promoted to vice president and treasurer, effective
July 1.  He is responsible for the capital markets, banking, cash management
and investment management functions.
    Raymond, 44, joined Sears in 1984 as manager of international financing.
He subsequently served as director of international banking, director of
banking and assistant treasurer for the parent company, as well as well as
vice president -- funding for Sears-Roebuck Acceptance Corp., prior to his
becoming assistant treasurer -- capital markets in 1993.  Earlier, he held
financial positions with International Harvester Co. from 1980 to 1984 and
Marathon Oil Co. from 1978 to 1980.
    Raymond holds a B.A. degree in economics from DePauw University and an
M.B.A. degree in finance from Indiana University.  He and his wife, Lynn, and
their two children live in River Forest, Ill.
    Through its network of 848 full-line stores and more than 2,100 specialty
stores, Sears is a leading U.S. retailer of apparel, home and automotive
products and services, serving nearly 60 million households.  Annual revenues
were $41 billion in 1998.

SOURCE  Sears, Roebuck and Co.

 
Web site:  http://www.sears.com 
  

 
CONTACT: William H. Parke of Sears, 847-286-5998