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Retail Ventures announces non-renewal of ceo's employment

8/7/2008

COLUMBUS, Ohio Retail Ventures announced that it has provided a notice of non-renewal of the employment agreement with president and ceo Heywood Wilansky.

Wilansky is a director of RVI and of its majority-owned subsidiary DSW Inc. The basis for this decision is that, following the company's Jan. 23 disposition of an 81% ownership interest in its Value City Department Stores business, the company determined that the non-renewal of Wilansky's employment agreement will contribute to cost-savings objectives consistent with the new corporate structure.

Pursuant to terms of Wilansky's employment agreement, his employment will end on Jan. 31, 2009.

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