DIRECTORS AND MANAGEMENT

Directors

Roxanne S. Austin
Executive Vice President,
Hughes Electronics
Corporation and
President and
Chief Operating Officer of
its subsidiary, DIRECTV, Inc.
(1) (2)*

Calvin Darden
Senior Vice President,
U.S. Operations,
United Parcel Service, Inc.
(1)

Roger A. Enrico
Retired Chairman and
Chief Executive Officer,
PepsiCo, Inc.
(1) (3)

William W. George
Former Chairman and
Chief Execuive Officer,
Medtronic, Inc.
(1) (2) (4)

Elizabeth Hoffman
President, the University
of Colorado System
(1)

Michele J. Hooper
Former Chief Executive
Officer and President,
Voyager Expanded Learning
(1) (2) (6)

James A. Johnson
Vice Chairman,
Perseus, LLC
(1) (3) (4) (5)

Richard M. Kovacevich
Chairman and
Chief Executive Officer,
Wells Fargo & Co.
(1) (2) (6)

Anne M. Mulcahy
Chairman and
Chief Executive Officer,
Xerox Corporation
(1) (4) (5)

Warren R. Staley
Chairman and
Chief Executive Officer,
Cargill, Inc.
(1) (4) (5)

George W. Tamke
Partner,
Clayton, Dubilier & Rice
(1) (2) * (3) (6)

Solomon D. Trujillo
Chief Executive Officer,
Orange SA
(1) (3) (4) (5)

Robert J. Ulrich
Chairman and
Chief Executive Officer,
Target Corporation and
Target Stores
(1)

(1) Executive Committee
(2) Audit Committee
(3) Compensation Committee
(4) Corporate Responsibility Committee
(5) Finance Committee
(6) Nominating Committee
* Elected as of 3/12/03

Executive Officers

Linda L. Ahlers
President, Marshall Field’s

Todd V. Blackwell
Executive Vice President,
Human Resources
Assets Protection, AMC

Bart Butzer
Executive Vice President,
Stores, Target Stores

Michael Francis
Executive Vice President,
Marketing

John D. Griffith
Senior Vice President,
Property Development

James T. Hale
Executive Vice President,
General Counsel and
Corporate Secretary

Diane L. Neal
President, Mervyn’s

Douglas A. Scovanner
Executive Vice President
and Chief Financial Officer

Paul L. Singer
Senior Vice President,
Technology Services and
Chief Information Officer

Gregg W. Steinhafel
President, Target Stores

Gerald L. Storch
Vice Chairman

Ertugrul Tuzcu
Executive Vice President,
Store Operations,
Marshall Field’s

Robert J. Ulrich
Chairman and
Chief Executive Officer

Other Officers

Timothy R. Baer
Vice President, Law

Nathan K. Garvis
Vice President,
Government Affairs

Susan D. Kahn
Vice President,
Investor Relations

Tracy Kofski
Vice President,
Total Compensation

Stephen C. Kowalke
Vice President and Treasurer

Richard J. Kuzmich
President, Associated
Merchandising Corp.

Dale Nitschke
President, target.direct

Ronald A. Prill
President,
Target Financial Services
(Retiring Effective 6/1/03)

Jack N. Reif
Assistant Treasurer

Sara J. Ross
Assistant Treasurer

Terrence J. Scully
President-Designate
Target Finacial Services
(Effective 6/1/03)

Erica C. Street
President, Target Brands, Inc.

Jane P. Windmeier
Senior Vice President,
Finance

SHAREHOLDER INFORMATION

Annual Meeting
The Annual Meeting of Shareholders is scheduled for May 21, 2003, at 9:30 a.m. CDT at The Children's Theatre, 2400 Third Avenue South, Minneapolis, Minnesota.

Shareholder Information
Quarterly and annual shareholder materials, including the
Form 10-Q and Form 10-K Annual Report, which are filed with the Securities and Exchange Commission, are available at no charge. To obtain copies of this information, you may call 612-761-6736, send an email to Investorrelations@target.com, or write to:

Vice President, Investor Relations (TPN-1448),
Target Corporation,
1000 Nicollet Mall,
Minneapolis, Minnesota 55403.

These documents as well as other information about Target Corporation, are also available on the internet at www.target.com.

Sales Information
Comments regarding the company’s sales results are provided periodically throughout the year on a recorded telephone message. You may access this message by calling 612-761-6500.

Direct Stock Purchase/Dividend Reinvestment Plan
Mellon Investor Services administers a direct service investment plan that allows interested investors to purchase Target Corporation stock directly, rather than through a broker, and become a registered shareholder of the Company. The program offers many features including dividend reinvestment. For detailed information regarding this program, call Mellon Investor Services toll free at 1-800-842-7629 or write to:

Mellon Bank, N.A.
c/o Mellon Investor Services
P.O. Box 3338
South Hackensack, NJ 07606-1938

Transfer Agent, Registrar and Dividend Disbursing Agent
Mellon Investor Services

Trustee, Employee Savings 401(k) and Pension Plans
State Street Bank and Trust Company

Stock Exchange Listings
Trading symbol TGT
New York Stock Exchange and Pacific Stock Exchange

Shareholder Assistance
For assistance regarding individual stock records, lost certificates, name or address changes, dividend or tax questions, call Mellon Investor Services at 1-800-794-9871, access its web site at www.melloninvestor.com, or write to:

Mellon Investor Services
P.O. Box 3315
South Hackensack, NJ 07606-1915

Target, The Bullseye Design, SuperTarget, Expect More. Pay Less., Archer Farms, Market Pantry, Marshall Field’s, Field’s, Take Charge of Education, Ready. Sit. Read!, Field’s Go Read! and Target House are trademarks of Target Brands, Inc. Mervyn’s, Community Closet, Child Spree, Go Places, Read. are trademarks of Mervyn’s Brands, Inc. Start Something is a trademark of the Tiger Woods Foundation. Mossimo is a trademark of Mossimo, Inc. Liz Lange is a trademark of Elizabeth Lange, Inc. Amy Coe is a trademark of Amy Coe, Inc. Waverly is a trademark of F. Schumacher & Co. Baby Tykes is a trademark of The William Carter Company. Genuine Kids is a trademark of Oshkosh B’Gosh, Inc. Starbucks is a trademark of Starbucks U.S. Brands Corporation. Cinnabon is a trademark of Cinnabon, Inc. Tupperware is a trademark of Dart Industries Inc. d/b/a Tupperware Home Parties. Stride Rite is a trademark of SRL, Inc. Woolrich is a trademark of John Rich & Sons Investment Holding Company. VISA is a trademark of Visa International Service Association. Calphalon is a trademark of Calphalon Corporation. Virgin is a trademark of Virgin Enterprises, Ltd. Swell by Cynthia Rowley and Ilene Rosenzweig is a trademark of Swellco Holdings, LLC. Physical Science is a trademark of Physical Science THC LLC. David Kirk and Sunny Patch are trademarks of Callaway & Kirk Company, LLC. Sonia Kashuk is a trademark of Sonia Kashuk, Inc. Sony is a trademark of Sony Corporation. Eddie Bauer is a trademark of Eddie Bauer, Inc. Folgers is a trademark of The Folgers Coffee Company. All rights reserved.
Copyright 2003 Target Corporation

Concept and design: Little & Company, Minneapolis