Regional Store Management Structure Is Reorganized
   

     
            BRAINTREE, Mass., Jan. 15, 1996 -- href="chap11.bradlees.html">Bradlees, Inc. (NYSE:
        BLE) today announced the appointments of Michael Trafford and George
        Van Eron to the positions of Regional Vice Presidents - Stores. Both
        executives will report to James Zamberlan, Executive Vice President
        - Stores.
        

            These appointments will initiate a reorganization of Bradlees
        Stores, in which the Company will consolidate its three operating
        regions into two.  Regional offices in Edison, NJ, North Haven, CT
        and Braintree, MA will be closed in early March, 1996.  All
        activities in support of Bradlees' 134 stores will be relocated to
        the Company's headquarters in Braintree.
        

            In a related move, the Company will also reorganize its stores'
        district management group, reducing its current fourteen store
        districts to ten.  District Managers and related staff will be
        housed in a designated store in each of the ten new districts.
        Learning Centers will be established in these same stores to better
        facilitate training and communication.
        

            Commenting on today's announcement, Mark A. Cohen, Chairman and
        Chief Executive Officer said, "The appointments of these two
        accomplished executives, Mike Trafford and George Van Eron, and
        related actions, signal a commitment to a new stores organization
        which will be both extremely capable and cost effective.
        Improvements in Bradlees' customer service, merchandise presentation
        and productivity are among the most important aspects of our
        reorganization strategy."
        

            Michael Trafford has over 20 years experience in retailing.
        Prior to joining Bradlees, Mr. Trafford was Regional Vice President
        - Pittsburgh for the Rich's/Lazarus/Goldsmiths Department Stores
        division of Federated Department Stores, Inc.  He began his career
        at Lazarus in 1977 in the management trainee program and went on to
        serve in such other positions as Sales Manager, Buyer, Store Manager
        for several Lazarus locations and Regional Vice President
        - Indiana/Kentucky.  Mr. Trafford is a graduate of Ohio State
        University.  He, his wife Gail and their daughter Kristin will
        reside in the Boston area.
        

            George Van Eron has over 25 years experience in the retail
        industry. He joined Bradlees in July of this year as a District
        Manager for 11 stores in Eastern Massachusetts and Southern New
        Hampshire. Previously, Mr. Van Eron was Executive Vice President,
        Director of Stores and Real Estate for Cherry, Webb & Touraine, a
        fifty six regional department store chain specializing in woman's
        apparel.  He began his retail career in 1971 at Wallach's and has
        since served in a senior management capacity for such companies as
        Lord & Taylor, Lazarus, Eddie Bauer and Sibley's. Mr. Van Eron is a
        graduate of Hofstra University. He and his wife, Valli, are the
        parents of two children, Natalie and George Paul.  They reside in
        East Greenwich, RI.
        

            Bradlees, Inc. operates 134 discount department stores in Maine,
        New Hampshire, Massachusetts, Connecticut, New York, New Jersey,
        Pennsylvania and Rhode Island.  Bradlees' common stock is listed and
        traded on the New York Stock Exchange under the symbol "BLE".
        

        /CONTACT: Coleman Nee of Bradlees, 617-380-8354/

        
            NORWALK, Conn.--Jan. 9, 1996--The
Caldor
        Corporation (NYSE:CLD) announced today that Marc I. Balmuth, its
        President, has decided not to extend his employment agreement when
        it expires on August 31, 1996.  To ensure an orderly transition, the
        Company has retained Herbert Mines Associates, an executive search
        firm, to assist it in the search for a successor.  
        

            Don R. Clarke, Chairman and Chief Executive Officer of Caldor,
        said: "Marc has played an invaluable role in building this Company.
        He has been a terrific partner for me and has helped put together a
        great team at Caldor.  However, we respect his decision and wish him
        well in the future."  
        

            Mr. Balmuth said: "After nine years, I have decided not to renew
        my contract, for personal reasons.  I have tremendous respect for
        the organization and management at Caldor and will miss them.  I am
        fully committed to working with the Company through August to ensure
        a smooth transition.  After that I plan to take some time off with
        my family."  
        

            Mr. Balmuth, 48, joined the Company as President in 1987.  In
        addition, he has served as a member of the Board of Directors since
        1989.  From 1985 to 1987 he was Executive Vice President for Venture
        Stores.  
        

            The Caldor Corporation is the fourth largest discount department
        store chain in the U.S., with annual sales of approximately $2.8
        billion.  It operates 166 stores in ten East Coast states.  With a
        strong consumer franchise in high-density urban/suburban markets,
        Caldor offers a diverse merchandise selection, including both
        softline and hardline products.  
        

        CONTACT: Kekst and Company,
                 Media,
                 Wendi Kopsick/Jim Fingeroth
                 212/593-2655
                      or
                 Investor Relations,
                 David D. Peterson,
                 203/849-2334