X0202 4 2007-03-22 0 0001166126 J C PENNEY CO INC JCP 0001196705 BOBER JOANNE L C/O J. C. PENNEY COMPANY, INC. 6501 LEGACY DRIVE PLANO TX 75024 0 1 0 0 EVP, General Counsel & Sec. Common Stock of 50 cent Par Value 2007-03-22 4 F 0 1020 81.45 D 25550 D Common Stock of 50 cent Par Value 138.0006 I By Trustee of 401(k) Represents shares used to satisfy tax withholding obligation upon vesting of earned performance-based restricted stock units granted under the Company?s 2005 Equity Compensation Plan. Represents equivalent shares based on units of participation in the JCPenney stock fund allocated to Ms. Bober's account in the Company?s 401(k) plan, as of March 19, 2007. The shares of JCPenney common stock in the fund are held by the trustee of the 401(k) plan. Changes in the amount of securities beneficially owned reflect changes in the value of the fund, the number of units of participation in the fund held by all participants, and the number of units of participation held by Ms. Bober. *** Under continuing POA as filed with the S.E.C. *** /s/ Salil R. Virkar, attorney in fact 2007-03-26