FOR IMMEDIATE RELEASE

Investor Contact:

Joe Carter, Venture Stores

314/281-7800

Media Contact:

Randy Myers or Tom Goyda, Shandwick

314/436-6565

Venture Stores, Inc. Reorganizes Finance Department to Strengthen Trade Relations

Russell Solt, EVP, to Assume CFO Duties; Retail Veteran, Joe Carter, Named VP-Controller

O'FALLON, MO., June 27 -- Venture Stores, Inc. (NYSE:VEN) announced today that Russell Solt, executive vice president of finance and administration, will assume the duties of chief financial officer, effective July 1, as part of a finance department reorganization. Joe Carter was named to the new position of vice president-controller.

Solt has served as executive vice president of finance and administration since joining Venture in December 1995. He will assume the CFO duties from Eugene Caldwell, who has resigned to pursue other interests.

Robert N. Wildrick, Venture's chairman and chief executive officer, said Solt has played a key role in financing Venture's continued repositioning as a family value retailer. Most recently, Solt was instrumental in negotiating a three-year commitment for a new $250 million secured revolving line of credit from BT Commercial Corporation, an affiliate of Bankers Trust Company. Prior to joining Venture, he served as chief financial officer with several key retailers, including Williams-Sonoma, Inc., Belk Stores, Inc.,Garfinkle's Raleigh and Company, and May Department Stores.

``Russell possesses a history of significant accomplishments, both at Venture and in his previous retail senior management positions,'' said Wildrick. ``With his added responsibilities, he will assume an even larger role in strengthening our relationships with merchandise resources and the financial community in support of our repositioning program.'' As part of the finance department reorganization, Wildrick also announced that:

� Joe Carter, vice president of new business development, has been promoted to vice president-controller, reporting to Russell Solt. He joined Venture in September l995, bringing more than 25 years of retail experience, including senior level finance positions. Most recently, Carter was executive vice president-general merchandise stores at Memphis-based Fred's, Inc., where he previously held the posts of senior vice president-financial merchandise manager and vice president-chief financial officer.

� Jay Baker, vice president of merchandise financial planning, assumes additional responsibility as vice president of merchandise financial planning and new business development. New duties for Baker, who has been with Venture for 28 years in various management assignments, will include overseeing the Venture Dollar Stores. He earned an MBA from Indiana University.

� Tony Bogolin, assistant controller-production areas, has been promoted to divisional vice president of treasury and accounts payable. He joined Venture in 1986. He is a certified public accountant. Venture currently operates 113 family value stores in nine states.

Venture's common stock is traded on the New York Stock Exchange under the symbol VEN.