Cato Moving to NYSE on June 13

The Cato Corporation celebrates listing on the NYSE Thursday, June 13. In
honor of the occasion, John Cato, President, Vice Chairman and CEO, rings
The Opening Bell.

CHARLOTTE, N.C., Jun 12, 2002 /PRNewswire-FirstCall via COMTEX/ -- As previously announced, The Cato Corporation (Nasdaq: CACOA) will list its Class A common stock on the New York Stock Exchange effective Thursday, June 13 and will trade under the symbol "CTR". As of June 13, the Company's shares will no longer be traded on Nasdaq.

"We are looking forward to joining the family of listed companies on the NYSE," said John Cato, President, Vice Chairman and Chief Executive Officer. "Many of the country's largest and most prestigious retailers are traded on the Exchange. We are proud to be listed with them. Our NYSE listing should provide our company a more visible presence in the financial community and should reduce the trading volatility of our stock, allowing us to continue to drive shareholder value."

The Opening Bell(TM) (starting at 9:25 a.m.) and The Closing Bell(TM) (starting at 3:55 p.m.) feeds are available via fiber line at Waterfront #1630. The NYSE Daily News Feed is available from 2:30 p.m. - 2:45 p.m. (EST) via satellite at Telstar 6, Transponder 11, C-Band and by fiber line at Waterfront #1630. A re-broadcast of the NYSE Daily News Feed is also available following The Closing Bell feed (starting at 3:55 p.m.) and can be accessed by fiber line at Waterfront #1630.

The Cato Corporation is a leading specialty retailer of value-priced women's fashion operating two divisions, "Cato" and "It's Fashion!", with 949 stores in 24 states. The Company offers exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices, every day. The Company's stores are primarily in strip shopping centers anchored by national discounters or market dominant grocers. The Company has added 340 stores over the last five years and will be adding 90 to 120 stores per year over the next several years. Additional information on The Cato Corporation is available at www.catocorp.com.

Statements in this press release not historical in nature are considered "forward-looking" within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations that are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contemplated by the forward-looking statements. Such factors include, but are not limited to, the following: general economic conditions; competitive factors and pricing pressures; the Company's ability to predict fashion trends; consumer apparel buying patterns; adverse weather conditions and inventory risks due to shifts in market demand. The Company does not undertake to publicly update or revise the forward-looking statements even if experience or future changes make it clear that the projected results expressed or implied therein will not be realized.

                     MAKE YOUR OPINION COUNT - Click Here
               http://tbutton.prnewswire.com/prn/11690X55138734

SOURCE The Cato Corporation

CONTACT:          Michael O. Moore, Executive Vice President and Chief Financial
                  Officer of The Cato Corporation, +1-704-551-7201

URL:              http://www.catocorp.com 
http://www.prnewswire.com

Copyright (C) 2002 PR Newswire.  All rights reserved.