Sears Holdings Elects New Board Member Sep 26, 2005

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Appliance retailer Sears Holdings Corporation elected Richard C. Perry, co-founder of investment management firm Perry Capital L.L.C., to membership on the Sears Holdings board. The election increases the number of directors to 11.

"Richard Perry is an accomplished investor and businessman. Importantly, funds he manages are a significant owner of Sears Holdings shares. The board of directors looks forward to his contribution, advice and leadership," said Sears Holdings Corporation Chairman Edward S. Lampert.

Prior to founding Perry Capital, Perry worked in the equity trading area of Goldman, Sachs & Co. He also was an adjunct associate professor at the Stern School of Business at New York University. Perry also serves on the boards of Radio & Records, Inc. and Endurance Specialty Insurance, Ltd.

Perry is a member of the boards of trustees of the Allen Stevenson School, Milton Academy, Facing History and Ourselves, Harlem Children's Zone and the University of Pennsylvania. He also serves on the Undergraduate Executive Board of the University of Pennsylvania's Wharton School.

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