FOR IMMEDIATE RELEASE

Contact:   H. Bartlett Brown
           (201) 635-9637


                      PETRIE STORES LIQUIDATING TRUST
                     APPROVES LIQUIDATING DISTRIBUTION

         Rutherford, New Jersey, November 10, 2000---Petrie Stores
Liquidating Trust (OTC Bulletin Board: PSTLS) announced today that it will
make a distribution on December 21, 2000 to its unit holders of an
aggregate of $39,262,679 in cash. In the distribution, holders of units of
beneficial interest of the Liquidating Trust will receive $0.75 in cash for
every unit of beneficial interest of the Liquidating Trust held of record
as of the close of business on December 11, 2000. Following the
distribution, the Liquidating Trust will hold approximately $85 million
in cash and cash equivalents. The trustees of the Liquidating Trust will
consider additional distributions to unit holders when the status of the
Liquidating Trust's remaining contingent liabilities is further clarified.


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