Exhibit 99.1

          Elder-Beerman Reports May Comparable Sales Increase

    DAYTON, Ohio--(BUSINESS WIRE)--June 4, 2003--Comparable store
sales for The Elder-Beerman Stores Corp. (Nasdaq:EBSC) increased 1.5
percent for the four weeks ended May 31, 2003 compared to the four
weeks ended June 1, 2002. Total store sales decreased by 0.3 percent
to $42.6 million versus the same period last year. The best performing
businesses in May were ladies' moderate and special size sportswear,
accessories, men's furnishings and the entire home store.
    For the year to date, comparable store sales decreased by 5.6
percent for the 17 week period ended May 31, 2003. Total store sales
decreased 5.6 percent to $173.7 million versus the same period last
year.
    On May 16, 2003, Elder-Beerman announced that it had recently
received unsolicited expressions of interest relating to the possible
acquisition of the company. It also stated that it entered into
discussions, on an exclusive basis and for a limited period of time,
with one of the parties concerning the possible sale of the company
and that there can be no assurance that these discussions will result
in any transaction involving the company. These discussions are
continuing. The company does not anticipate having any additional
comment on this subject at its annual meeting of shareholders which
will take place on June 5, 2003 at 8:00 a.m. at the Dayton Marriott
Hotel, 1414 South Patterson Boulevard, Dayton, Ohio 45409.

    The nation's ninth largest independent department store chain, The
Elder-Beerman Stores Corp. is headquartered in Dayton, Ohio and
operates 68 stores in Ohio, West Virginia, Indiana, Michigan,
Illinois, Kentucky, Wisconsin and Pennsylvania. For more information
about the company see Elder-Beerman's web site at
www.elder-beerman.com.

    This press release may contain "forward-looking statements,"
including predictions of future operating performance, events or
developments such as future sales, profits, expenses, income and
earnings per share. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "hopes," and "estimates," and variations of such
words and similar expressions, are intended to identify
forward-looking statements.
    Because forward-looking statements are based on a number of
beliefs, estimates and assumptions by management that could ultimately
prove inaccurate, there is no assurance that forward-looking
statements will prove to be accurate. Many factors could materially
affect actual future operations and results. Factors that could
materially affect performance include the following: increasing price
and product competition; fluctuations in consumer demand and
confidence, especially in light of current economic conditions; the
availability and mix of inventory; fluctuations in costs and expenses;
consumer response to merchandising strategies, advertising, marketing
and promotional programs; the timing and effectiveness of new store
openings, particularly the new concept store opened in April 2003 in
De Kalb, IL and the new store scheduled to open in November 2003 in
Muscatine, IA; weather conditions that affect consumer traffic; the
continued availability and terms of bank and lease financing and trade
credit; the outcome of pending and future litigation; consumer energy
costs, debt levels and paydown rates on consumer debts, including
amounts owed to Elder-Beerman; the impact of new consumer bankruptcy
laws; inflation, interest rates and the condition of the capital
markets. National security threats and warnings in the wake of
September 11, 2001 and continued U.S. involvement in Iraq could
magnify some of those factors.
    Elder-Beerman undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.


(dollars in millions)                        MAY SALES(a)
-------------------------------- -------------------------------------
                                                   Total   Comparable
                                                   Sales      Sales
          (unaudited)              2003    2002  Change(b)  Change(b)
-------------------------------- ------- ------- --------- -----------

The Elder-Beerman Stores Corp.    $42.6   $42.8    (0.3%)      1.5%
-------------------------------- ------- ------- --------- -----------


(dollars in millions)                   YEAR TO DATE SALES(a)
------------------------------- --------------------------------------
                                                    Total   Comparable
                                                    Sales      Sales
          (unaudited)              2003     2002  Change(b)  Change(b)
------------------------------- -------- -------- --------- ----------

The Elder-Beerman Stores Corp.   $173.7   $183.9    (5.6%)    (5.6%)
------------------------------- -------- -------- --------- ----------

(a) All sales figures exclude leased department sales.
(b) Percentages may not correspond to the actual sales figures due to
    rounding of sales figures.


    CONTACT: Elder-Beerman Stores Corp.
             Edward Tomechko, 937/296-2683
             or
             Gloria Siegler, 937/296-7339