Pershing Square Capital Management to Host Town Hall Meeting on May 11, 2009 for All Target Shareholders and Interested Parties

NEW YORK - Advanced Registration is Required

Pershing Square Capital Management, L.P., announced today that it will host a Town Hall Meeting to provide all shareholders of Target Corporation (NYSE: TGT) and other interested parties the opportunity to meet each of its nominees for the Target Board of Directors. As seating is limited, in-person attendees must register in advance. Attendees via the web must also register. Registration is available at www.TGTtownhall.com.

When: 11:00 a.m. (Eastern), Monday, May 11, 2009 Where: AXA Equitable Auditorium, 787 Seventh Avenue (between 51st and 52nd Streets) New York, New York Webcast: www.TGTtownhall.com

A live webcast will be available at www.TGTtownhall.com. A replay of the webcast will be available until May 28, 2009, the date of Target’s 2009 Annual Meeting of Shareholders.

Biographical information for nominees and proxy materials are available at www.TGTtownhall.com.

Additional Information

In connection with Target’s 2009 Annual Meeting of Shareholders, Pershing Square Capital Management, L.P. and certain of its affiliates (collectively, “Pershing Square”) filed a definitive proxy statement on Schedule 14A with the Securities and Exchange Commission (the “SEC”) on May 1, 2009 containing information about the solicitation of proxies for use at the 2009 Annual Meeting of Shareholders of Target Corporation. The definitive proxy statement and the GOLD proxy card were first disseminated to shareholders of Target Corporation on or about May 2, 2009.

SHAREHOLDERS OF TARGET ARE URGED TO READ THE PROXY STATEMENT CAREFULLY BECAUSE IT CONTAINS IMPORTANT INFORMATION. The definitive proxy statement and other relevant documents relating to the solicitation of proxies by Pershing Square are available at no charge on the SEC’s website at www.sec.gov. Shareholders can also obtain free copies of the definitive proxy statement and other relevant documents at www.TGTtownhall.com or by calling Pershing Square’s proxy solicitor, D. F. King & Co., Inc., at +1-800-290-6427.

Pershing Square and certain of its members and employees and Michael L. Ashner, James L. Donald, Ronald J. Gilson and Richard W. Vague (collectively, the “Participants”) are deemed to be participants in the solicitation of proxies with respect to Pershing Square’s nominees. Detailed information regarding the names, affiliations and interests of the Participants, including by security ownership or otherwise, is available in Pershing Square’s definitive proxy statement.

Source: Pershing Square Capital Management, L.P.

William A. Ackman, +1-212-813-3700