================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13D
                    Under the Securities Exchange Act of 1934

                                (Amendment No. 1)

                                   ----------

                              WOOLWORTH CORPORATION
                                (Name of Issuer)


 Common Stock, $.01 par value per share                       980883 10 2
     (Title of class of securities)                         (CUSIP number)


                            Gary K. Duberstein, Esq.
                             Greenway Partners, L.P.
                           277 Park Avenue, 27th Floor
                     New York, New York 10172 (212) 350-5100
            (Name, address and telephone number of person authorized
                     to receive notices and communications)

                                  June 3, 1998
             (Date of event which requires filing of this statement)

If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [_].

Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss. 240.13d-7 for other
parties to whom copies are to be sent.

                          (Continued on following pages)

                               (Page 1 of 15 pages)

================================================================================



NYFS11...:\92\56392\0003\1751\SCH6048M.230


- -----------------------------------           ----------------------------------
CUSIP No. 980883 10 2                    13D               Page 2 of 15 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON              GREENWAY PARTNERS, L.P.
                   S.S. OR I.R.S. IDENTIFICATION NO.     13-3714238
                   OF ABOVE PERSON

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            WC, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:            Delaware
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:              1,375,700
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:                  0
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:         1,375,700
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:             0
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    1,375,700
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     1.0%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            PN
- ------------------ -------------------------------------------------------------



- -----------------------------------           ----------------------------------
CUSIP No. 980883 10 2                    13D               Page 3 of 15 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON             GREENTREE PARTNERS, L.P.
                   S.S. OR I.R.S. IDENTIFICATION NO.    13-3752875
                   OF ABOVE PERSON

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            WC, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:            Delaware
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:              700,000
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:                  0
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:         700,000
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:             0
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    700,000
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     0.5%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            PN
- ------------------ -------------------------------------------------------------


- -----------------------------------           ----------------------------------
CUSIP No. 980883 10 2                    13D               Page 4 of 15 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON            GREENHOUSE PARTNERS, L.P.
                   S.S. OR I.R.S. IDENTIFICATION NO.   13-3793447
                   OF ABOVE PERSON

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            WC, AF, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:            Delaware
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:                    0
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:            1,375,700
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:               0
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:       1,375,700
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    1,375,700
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     1.0%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            PN
- ------------------ -------------------------------------------------------------



- -----------------------------------           ----------------------------------
CUSIP No. 980883 10 2                    13D               Page 5 of 15 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON             GREENHUT, L.L.C.
                   S.S. OR I.R.S. IDENTIFICATION NO.    13-3793450
                   OF ABOVE PERSON

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            WC, AF, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:            Delaware
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:                    0
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:            700,000
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:               0
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:       700,000
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    700,000
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     0.5%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            OO
- ------------------ -------------------------------------------------------------


- -----------------------------------           ----------------------------------
CUSIP No. 980883 10 2                    13D               Page 6 of 15 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON             GREENBELT CORP.
                   S.S. OR I.R.S. IDENTIFICATION NO.    13-3791931
                   OF ABOVE PERSON

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:            Delaware
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:              5,194,422
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:                  0
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:         5,194,422
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:             0
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    5,194,422
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     3.8%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            CO
- ------------------ -------------------------------------------------------------


- -----------------------------------           ----------------------------------
CUSIP No. 980883 10 2                    13D               Page 7 of 15 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON             GREENSEA OFFSHORE, L.P.
                   S.S. OR I.R.S. IDENTIFICATION NO.
                   OF ABOVE PERSON

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            WC, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:      Cayman Islands
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:              950,000
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:                  0
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:         950,000
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:             0
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    950,000
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     0.7%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            PN
- ------------------ -------------------------------------------------------------


- -----------------------------------           ----------------------------------
CUSIP No. 980883 10 2                    13D               Page 8 of 15 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON            GREENHUT OVERSEAS, L.L.C.
                   S.S. OR I.R.S. IDENTIFICATION NO.   13-3868906
                   OF ABOVE PERSON

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            WC, AF, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:      Delaware
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:                    0
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:            950,000
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:               0
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:       950,000
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    950,000
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     0.7%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            OO
- ------------------ -------------------------------------------------------------


- -----------------------------------           ----------------------------------
CUSIP No. 980883 10 2                    13D               Page 9 of 15 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON             ALFRED D. KINGSLEY
                   S.S. OR I.R.S. IDENTIFICATION NO.
                   OF ABOVE PERSON

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            PF, AF, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:      United States
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:                0
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:           8,220,122
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:           0
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:      8,220,122
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                   8,220,122
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     6.1%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            IN
- ------------------ -------------------------------------------------------------


- -----------------------------------           ----------------------------------
CUSIP No. 980883 10 2                    13D              Page 10 of 15 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON             GARY K. DUBERSTEIN
                   S.S. OR I.R.S. IDENTIFICATION NO.
                   OF ABOVE PERSON

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            PF, AF, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:      United States
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:                    0
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:          8,220,122
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:               0
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:     8,220,122
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                  8,220,122
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     6.1%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            IN
- ------------------ -------------------------------------------------------------


            This Amendment No. 1 ("Amendment No. 1") amends the Statement on
Schedule 13D (the "Schedule 13D") filed on May 18, 1998 by and on behalf of
Greenway Partners, L.P. ("Greenway"), Greentree Partners, L.P. ("Greentree"),
Greenhouse Partners, L.P. ("Greenhouse"), Greenhut, L.L.C. ("Greenhut"),
Greenbelt Corp. ("Greenbelt"), Greensea Offshore, L.P. ("Greensea"), Greenhut
Overseas, L.L.C. ("Greenhut Overseas"), Alfred D. Kingsley and Gary K.
Duberstein (collectively, the "Reporting Persons"). Capitalized terms used
herein and not defined herein have the meanings ascribed thereto in the Schedule
13D.


ITEM 3.     SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

            Since the filing of the Schedule 13D, accounts managed by Greenbelt
purchased an aggregate of 140,000 Shares for total consideration (including
brokerage commissions) of $2,789,974 derived from capital in the managed
accounts and margin indebtedness from Bear, Stearns & Co. Inc.


ITEM 4.     PURPOSE OF THE TRANSACTION

            The Reporting Persons distributed a written communication dated May
28, 1998 to the other shareholders of the Company. The text of this
communication is set forth in Exhibit 5 attached hereto, which is incorporated
herein by reference.

            The Reporting Persons distributed a written communication dated June
3, 1998 to the other shareholders of the Company. The text of this communication
is set forth in Exhibit 6 attached hereto, which is incorporated herein by
reference.


ITEM 5.     INTEREST IN SECURITIES OF THE ISSUER

            (a) As of the date of this Statement, the Reporting Persons
beneficially owned in the aggregate 8,220,122 Shares constituting 6.1% of the
outstanding Shares (the percentage of Shares owned being based upon 135,251,929
Shares outstanding on April 23, 1998, as set forth in the Company's Proxy
Statement dated April 28, 1998 relating to the Company's 1998 annual meeting of
shareholders). The Reporting Persons may be deemed to have direct beneficial
ownership of Shares as follows:

                                                             Approximate
                                      Number of             Percentage of
                Name                   Shares            Outstanding Shares
                ----                   ------            ------------------

              Greenway                1,375,700                   1.0%
              Greentree                 700,000                   0.5%
              Greenbelt               5,194,422                   3.8%
              Greensea                  950,000                   0.7%

            Greenhouse, as the general partner of Greenway, may be deemed to own
beneficially (as that term is defined in Rule 13d-3 under the Securities
Exchange Act of 1934) Shares which Greenway may be deemed to possess direct
beneficial ownership. Each of Messrs. Kingsley and Duberstein, as general
partners of Greenhouse, may be deemed to beneficially own Shares which
Greenhouse may be deemed to beneficially own. Each of Messrs. Kingsley and
Duberstein disclaims beneficial ownership of such Shares for all other purposes.




                                       11

            Greenhut, as the general partner of Greentree, may be deemed to own
beneficially (as that term is defined in Rule 13d-3 under the Securities
Exchange Act of 1934) Shares which Greentree may be deemed to possess direct
beneficial ownership. Each of Messrs. Kingsley and Duberstein, as members of
Greenhut, may be deemed to beneficially own Shares which Greenhut may be deemed
to beneficially own. Each of Messrs. Kingsley and Duberstein disclaims
beneficial ownership of such Shares for all other purposes.

            Greenhut Overseas, as the investment general partner of Greensea,
may be deemed to own beneficially (as that term is defined in Rule 13d-3 under
the Securities Exchange Act of 1934) Shares which Greensea may be deemed to
possess direct beneficial ownership. Each of Messrs. Kingsley and Duberstein, as
members of Greenhut Overseas, may be deemed to beneficially own Shares which
Greenhut Overseas may be deemed to beneficially own. Each of Messrs. Kingsley
and Duberstein disclaims beneficial ownership of such Shares for all other
purposes.

            Greenbelt has direct beneficial ownership of the Shares in the
accounts which it manages. In addition, Greenbelt is the investment advisor for
Greenland Investment Company Limited, a Cayman Islands company ("Greenland"). In
such capacity, Greenbelt has the right to vote and direct the disposition of the
205,000 Shares held by Greenland and, consequently, has direct beneficial
ownership of such Shares. Substantially all of the equity interests in Greenland
are owned by Strategic Investment Partners Limited ("SIPL"). Because SIPL has
the right to elect to terminate its investment in Greenland upon less than 60
days' notice and, upon such termination, all securities held by Greenland would
be sold by Greenland or, with SIPL's consent, distributed to SIPL in kind, SIPL
could be deemed to be the beneficial owner of the Shares held by Greenland.
Information concerning SIPL and the identity and background of certain
individuals and entities related thereto is set forth on Exhibit 2 to the
Schedule 13D and incorporated herein by reference. Each of Messrs. Kingsley and
Duberstein, as executive officers and directors of Greenbelt, may be deemed to
beneficially own Shares which Greenbelt beneficially owns. Each of Messrs.
Kingsley and Duberstein disclaims beneficial ownership of such Shares for all
other purposes.

            (b) Greenway has the sole power to vote or direct the vote of
1,375,700 Shares and the sole power to dispose or to direct the disposition of
such Shares. Greenhouse and Messrs. Kingsley and Duberstein may be deemed to
share with Greenway the power to vote or to direct the vote and to dispose or to
direct the disposition of such Shares.

            Greentree has the sole power to vote or direct the vote of 700,000
Shares and the sole power to dispose or direct the disposition of such Shares.
Greenhut and Messrs. Kingsley and Duberstein may be deemed to share with
Greentree the power to vote or to direct the vote and to dispose or to direct
the disposition of such Shares.

            Greensea has the sole power to vote or direct the vote of 950,000
Shares and the sole power to dispose or direct the disposition of such Shares.
Greenhut Overseas and Messrs. Kingsley and Duberstein may be deemed to share
with Greensea the power to vote or to direct the vote and to dispose or to
direct the disposition of such Shares.

            Greenbelt has the sole power to vote or direct the vote of 4,989,422
Shares held in managed accounts and the 205,000 Shares held by Greenland, and,
except as described in Item 5(a) with respect to Greenland, the sole power to
dispose or direct the disposition of all such Shares. Messrs. Kingsley and
Duberstein may be deemed to share with Greenbelt the power to vote or to direct
the vote and to dispose or to direct the disposition of such Shares.



                                       12

            (c) Information concerning transactions in the Shares by the
Reporting Persons since the filing of the Schedule 13D is set forth in Exhibit 4
attached hereto, which is incorporated herein by reference.

            (d) No other person is known to have the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the sale of,
the Shares, except the dividends from, or proceeds from the sale of Shares in
each respective account managed by Greenbelt or held by Greenland will be
delivered into each such respective account or Greenland, as the case may be.
Neither any such individual account nor Greenland has an interest in more than
five percent of the class of outstanding Shares.

            (e) Not applicable.


ITEM 7.     MATERIAL TO BE FILED AS EXHIBITS

            The following Exhibit is filed herewith:

            4. Information concerning transactions in the Shares effected by the
Reporting Persons since the filing of the Schedule 13D.

            5. Written communication dated May 28, 1998 from the Reporting
Persons to the other shareholders of the Company.

            6. Written communication dated June 3, 1998 from the Reporting
Persons to the other shareholders of the Company.



              [The remainder of this page intentionally left blank.]



                                       13

                                   SIGNATURES


          After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certify that the information contained in this Statement
is true, complete and correct.

Dated:   June 4, 1998


GREENHOUSE PARTNERS, L.P.                    GREENWAY PARTNERS, L.P.

                                             By:  Greenhouse Partners, L.P., its
                                                  general partner
By:  /s/ Gary K. Duberstein
    ------------------------------
    Gary K. Duberstein, general              By:  /s/ Gary K. Duberstein
    partner                                       ------------------------------
                                                  Gary K. Duberstein, general
                                                  partner


GREENHUT, L.L.C.                             GREENTREE PARTNERS, L.P.

                                             By:  Greenhut, L.L.C., its general
                                                  partner
By:  /s/ Gary K. Duberstein
    ------------------------------
    Gary K. Duberstein, Member               By:  /s/ Gary K. Duberstein
                                                  ------------------------------
                                                  Gary K. Duberstein, Member


GREENHUT OVERSEAS, L.L.C.                    GREENSEA OFFSHORE, L.P.

                                             By:  Greenhut Overseas, L.L.C., its
                                                  investment general partner
By:  /s/ Gary K.Duberstein
    ------------------------------
    Gary K. Duberstein, Member               By:  /s/ Gary K. Duberstein
                                                  ------------------------------
                                                  Gary K. Duberstein, Member


                                             GREENBELT CORP.

                                                  By: /s/ Alfred D. Kingsley
                                                  ------------------------------
                                                  Alfred D. Kingsley, President

                                                  /s/ Alfred D. Kingsley
                                                  ------------------------------
                                                  Alfred D. Kingsley

                                                  /s/ Gary K. Duberstein
                                                  ------------------------------
                                                  Gary K. Duberstein


                                       14

                                  EXHIBIT INDEX



EXHIBIT NO.        DESCRIPTION
- -----------        -----------

      4.           Information concerning transactions in the Shares effected by
                   the Reporting persons since the filing of the Schedule 13D.

      5.           Written communication dated May 28, 1998 from the Reporting
                   Persons to the other shareholders of the Company.

      6.           Written communication dated June 3, 1998 from the Reporting
                   Persons to the other shareholders of the Company.






                                       15


                                                                     Exhibit 4

                      TRANSACTIONS IN SHARES OF THE COMPANY
                      -------------------------------------


            The Reporting Persons engaged in the following transactions in
Shares of the Company since the filing of the Schedule 13D. All transactions
involved purchases of Shares on the New York Stock Exchange.


Reporting Person                                                 Price Per
With Direct                                                        Share
Beneficial                Date of            Number of          (Excluding
Ownership               Transaction            Shares           Commission
- ---------               -----------            ------           ----------

Greenbelt                 5/26/98              80,000             20.1133

Greenbelt                 5/27/98              60,000             19.5885














NYFS11...:\92\56392\0003\1751\SCH6048M.230


                                                                      Exhibit 5

                Written Communication Dated May 28, 1998 from the
           Reporting Persons to the Other Shareholders of the Company
           ----------------------------------------------------------


               AN IMPORTANT MESSAGE TO OUR FELLOW SHAREHOLDERS OF
                            WOOLWORTH CORPORATION...

                           ...FROM GREENWAY PARTNERS!

                     ONE OF WOOLWORTH'S LARGEST SHAREHOLDERS

                                      STOP!

            Earlier this month you received a proxy statement and proxy voting
card from the management of Woolworth Corporation ("Woolworth") concerning the
Company's June 11, 1998 Annual Meeting of Shareholders. At this meeting you will
be asked to consider and vote upon a shareholder proposal sponsored by Greenway
Partners, L.P. recommending that the "...Woolworth general merchandise business
in Germany be sold and the proceeds used for a stock buyback." Our proposal
appears as item #5 in Woolworth's proxy statement dated April 28, 1998.

                                       LOOK!

            Please look for our shareholder information letter which you will
receive during the next several days. Our letter will underscore our reasons for
sponsoring this proxy proposal and discuss our ideas for the future direction of
Woolworth as a specialty retailer focusing on its core competence, which is the
sale of athletic related goods, including athletic footwear, athletic apparel
and sporting goods. We also support the proposal of a fellow shareholder --
which appears as item #6 -- requesting the Board not to reinstate the "Poison
Pill" at Woolworth without a shareholder vote.

                                      LISTEN!

            Before you sign, date and return your proxy voting card, please give
careful consideration to our message concerning the future direction of
Woolworth and to our proposal which we believe will serve to maximize
shareholder value and help revive Woolworth's sagging stock price.

For additional information, please contact Garland Associates, Inc. Tel:
212-866- 0095.








NYFS11...:\92\56392\0003\1751\SCH6048M.230

                                                                      Exhibit 6


                Written Communication dated June 3, 1998 from the
           Reporting Persons to the Other Shareholders of the Company
           ----------------------------------------------------------


                     [Letterhead of Greenway Partners, L.P.]


                                                June 3, 1998

Dear Fellow Woolworth Investor:

      Shakespeare once asked: 'What's in a name?' and then concluded that a rose
by any other name would smell as sweet.(1) As noted in the accompanying "Ode to
Venator", we can picture the Bard as joining with those who cannot abide the
stench of the name Venator Group, Inc. We fear that even those who can quote
freely from Shakespeare have no clue as to what Venator means. To us, it sounds
horrible. We urge our fellow shareholders to vote AGAINST the name Venator by
voting AGAINST Proposal #2.

      As one of the largest shareholders with over 8 million shares, we fear
there is something rotten with the state of Woolworth.(2) The 1997 Annual Report
shows operating losses before non-recurring items at Specialty Footwear (largely
composed of Kinney shoe stores) of $12 million, $9 million and $23 million for
1997, 1996, and 1995. The potpourri of store formats in the Other Specialty
category--which include Afterthoughts, The San Francisco Music Box Company and
others--had $421 million of sales in 1997 and, as a group, barely had an
operating profit. Similarly, the International General Merchandise segment
comprised primarily of Woolworth Stores in Germany, did just under $1.5 billion
in sales in 1997 and eked out an operating profit before non-recurring items of
a scant $15 million after operating losses on that line of $32 million and $33
million in the two preceding years. As far as we can tell, the true numbers for
Woolworth Germany are actually worse from a


- --------
1.  See Romeo and Juliet, Act II, Scene II. 
2.  See Hamlet, Act I, Scene IV.




NYFS11...:\92\56392\0003\1751\SCH6048M.230

practical standpoint because Woolworth has ownership rights to virtually all of
its German real estate and does not charge itself any rent on its 365 stores in
Germany.

      Management time spent focusing on these peripheral and money losing
operations draws valuable time and attention away from Woolworth's profitable
core business--the sale of athletic related goods. Management's present approach
is madness without method.(3) Instead, we believe that Woolworth should focus on
its core strength of selling athletic footwear, athletic apparel and sporting
goods. With over 3,500 athletic group stores in North America, Europe, Asia and
Australia, Woolworth is the largest retailer of athletic footwear and apparel in
the United States and an emerging power globally. Along with the Northern Group
of specialty stores, this is where the profits have been and where management's
skill and efforts should be concentrated. Woolworth should sell virtually all of
its other retail formats as quickly as possible. While we do not want
transactions at fire sale prices, we also do not want management holding out for
the last dollar and throwing good money after bad. Indeed, some formats may be
valuable gems to the right buyers.

                 CHANGE SPORTS AUTHORITY ACQUISITION TO CASH DEAL

      We support Woolworth's acquisition of The Sports Authority in concept as a
transaction that complements Woolworth's core competence. However, after
reviewing the proposed structure of the transaction, we urge management to use
cash for the purchase instead of issuing stock. Given today's low stock price
relative to Woolworth's true value, we view the transaction as being too
dilutive to shareholders over the long run. Woolworth has relatively little long
term debt on its books, should easily be able to borrow the full cost of the
acquisition on reasonable terms, and can then pay down the debt as it sells its
non-athletic related assets.


- --------
3.  See Hamlet, Act II, Scene II.


      This brings us back to the specifics on the agenda for the June 11 Annual
Meeting. To send this proxy season message of discontent(4) to Woolworth
management with a view toward refocusing the company and improving its sagging
share price, we also urge our fellow shareholders to vote FOR Proposal #5 which
recommends as a first step that the "...Woolworth general merchandise business
in Germany be sold and the proceeds used for a stock buyback."

      In management's answer to Proposal #5, which is sponsored by Greenway, we
think it ironic that they argue it might be harmful if potential purchasers
thought management was "under pressure from shareholders to sell the business".
Given the performance of Woolworth's stock over the past few years, this
management should feel pressure from shareholders. The Performance Graph on page
26 of the Proxy Statement shows the price of Woolworth stock badly lagging both
the S&P 500 and the S&P Retail Composite for the period ended January 31, 1998.
The situation has worsened even more since then. Despite a stock market that
continues to rise, the price of Woolworth has dropped from $21 3/4 at January
31, 1998 to $19 1/2 at June 1, 1998. Contrast that with the surging stock prices
of other retailers as shown in the accompanying graph.

      Management's response also notes that Woolworth reactivated its existing
stock repurchase program "with the intention of buying each year approximately
1,000,000 shares of the Company's outstanding Common Stock to cover shares
needed for various employee benefit plans." With currently over 135 million
shares outstanding, a 1 million share annual repurchase program is hardly
measure for measure.(5)

                   GREENWAY DEPLORES MANAGEMENT'S REINSTATEMENT
                      OF POISON PILL WITHOUT SHAREHOLDER VOTE

      As noted under Proposal #6, of Management's Proxy Statement, the Woolworth
"poison pill" was set to expire in April 1998. Before that date, a shareholder
submitted a proposal calling on Woolworth management to allow the pill


- --------
4.  See King Richard III, Act I, Scene I. 
5.  See Measure for Measure.



to expire pursuant to its terms and not to reinstate the pill without approval
by holders of a majority of outstanding shares. Before even waiting to see the
results of the vote on this proposal at the June Annual Meeting, Woolworth
management adopted a new pill without a shareholder vote. This new pill does not
expire until April 2008. How sharper than a serpent's tooth it is to have a
thankless management.(6)

      We believe the "poison pill" serves to insulate management from direct
shareholder accountability. Indeed, Woolworth's actions in renewing the "poison
pill" without a vote of its shareholders demonstrates such insulation. We urge
shareholders to cut through that insulation by voting FOR Proposal #6. Moreover,
if Proposal #6 receives significant shareholder support--as we believe it
will--we call on management to redeem the "poison pill" they surreptitiously
readopted.

      In summary, we call on all our fellow shareholders to vote:

      |X|   AGAINST Proposal #2 to change the name Woolworth Corporation to
            Venator Group, Inc.

      |X|   FOR Proposal #5 to sell Woolworth's general merchandise business in
            Germany and use the proceeds for a stock buyback.

      |X|   FOR Proposal #6 requesting the Board not to reinstate the "Poison
            Pill" without a shareholder vote.

      After all, shareholders at some time should be masters of their fate. Vote
to send a message for change. Or the fault, dear shareholders, will be not in
our stars, but in ourselves, that Woolworth is undervalued.(7) THE JUNE 11
MEETING IS FAST APPROACHING. REMEMBER, ONLY THE LATEST DATED PROXY COUNTS SO YOU
CAN STILL CHANGE YOUR VOTE. SHAREHOLDERS CAN VOTE INSTANTLY BY TELEPHONE. IF YOU
HAVE QUESTIONS ON


- --------
6.  King Lear, Act I, Scene IV.
7.  See Julius Caesar, Act I, Scene II.



VOTING, CONTACT GARLAND ASSOCIATES, INC., OUR PROXY SOLICITORS, AT (212) 
866-0095.


                                        Very truly yours,
                                
                                        /s/ Alfred D. Kingsley
                                
                                        Alfred D. Kingsley
                                
                                
                                        /s/ Gary K. Duberstein
                                
                                        Gary K. Duberstein
                      


            FOR MORE INFORMATION, PLEASE CONTACT US AT (212) 350-5100
      OR GARLAND ASSOCIATES, INC., OUR PROXY SOLICITORS, AT (212) 866-0095


            LINE GRAPH SHOWING CHANGE IN STOCK PRICES OF EACH OF WOOLWORTH CORP.
(Z), JUST FOR FEET (FEET), FINISH LINE (FINL), FOOTSTAR INC. (FTS) AND GAP INC.
(GPS) BETWEEN JUNE 1, 1997 AND JUNE 1, 1998 IS OMITTED. THE FOLLOWING TABLE SETS
FORTH THE RELEVANT DATA DEPICTED IN SUCH GRAPH:


              ------------------------------------------------------------------
              CLOSING PRICE
- --------------------------------------------------------------------------------
  Week            Z            FEET           GPS          FINL           FTS
 Ending
- --------------------------------------------------------------------------------
  6/6/97            24         19.75        22.8525        12.375        22.875
- --------------------------------------------------------------------------------
 6/13/97        26.375       18.3125         24.915          13.5         23.75
- --------------------------------------------------------------------------------
 6/20/97          25.5       17.5625        25.4925        15.125        22.375
- --------------------------------------------------------------------------------
 6/27/97          24.5       16.5625          25.08         14.75          24.5
- --------------------------------------------------------------------------------
  7/4/97         25.25            17        25.9875       14.5625         24.75
- --------------------------------------------------------------------------------
 7/11/97       24.6875        18.625        25.9875         13.75       25.0625
- --------------------------------------------------------------------------------
 7/18/97       27.0625        18.125        26.3587         13.75            26
- --------------------------------------------------------------------------------
 7/25/97       26.9375       19.0625        27.5962            14       26.6875
- --------------------------------------------------------------------------------
  8/1/97        27.875       19.0625          28.38          13.5        26.625
- --------------------------------------------------------------------------------
  8/8/97       27.8125         17.75        28.7925            13         27.25
- --------------------------------------------------------------------------------
 8/15/97        25.875       15.9375        28.4212         12.25       26.9375
- --------------------------------------------------------------------------------
 8/22/97       24.6875        12.625          29.37        13.625       25.0625
- --------------------------------------------------------------------------------
 8/29/97        22.375        13.125        29.3287            14       24.8125
- --------------------------------------------------------------------------------
  9/5/97            23       14.3125          32.34        17.125       25.0625
- --------------------------------------------------------------------------------
 9/12/97        23.625          14.5          34.32        17.625        25.625
- --------------------------------------------------------------------------------
 9/19/97       21.5625       14.4375        34.2787       17.5625        26.125
- --------------------------------------------------------------------------------
 9/26/97        22.125         15.25         33.165        18.875        26.625
- --------------------------------------------------------------------------------
 10/3/97         22.25        15.125        34.3612         18.75         27.25
- --------------------------------------------------------------------------------
10/10/97        21.375         14.75        32.5462        18.625          27.5
- --------------------------------------------------------------------------------
10/17/97        20.125       14.4375        33.1237        17.875       27.1875
- --------------------------------------------------------------------------------
10/24/97       19.6875            14        34.4025        18.375       28.4375
- --------------------------------------------------------------------------------
10/31/97            19       14.8125        35.1037        16.875       27.1875
- --------------------------------------------------------------------------------
 11/7/97         20.75         16.25        35.5162        18.125       27.4375
- --------------------------------------------------------------------------------
11/14/97            20            16         35.475          17.5        27.375
- --------------------------------------------------------------------------------
11/21/97       21.3125       17.8125        38.1562         19.25       29.5625
- --------------------------------------------------------------------------------
11/28/97        21.625       16.9375        35.4337            19            30
- --------------------------------------------------------------------------------
 12/5/97       21.5625            16        37.5787        16.375       30.3125
- --------------------------------------------------------------------------------
12/12/97          20.5          14.5         35.805       13.4375       29.9375
- --------------------------------------------------------------------------------
12/19/97       19.8125       12.8125        35.5575        13.375       26.3125
- --------------------------------------------------------------------------------
12/26/97          20.5        13.125         33.625        12.875       26.1875
- --------------------------------------------------------------------------------
  1/2/98       20.3125          13.5        34.9375        13.875        26.875
- --------------------------------------------------------------------------------
  1/9/98       19.6875        13.625             36       12.8125        25.125
- --------------------------------------------------------------------------------
 1/16/98       19.9375          13.5         38.625        12.375       27.6875
- --------------------------------------------------------------------------------
 1/23/98       19.9375       13.4375          38.75        12.625        26.875
- --------------------------------------------------------------------------------
 1/30/98         21.75         14.25        39.0625         12.75         26.75
- --------------------------------------------------------------------------------
  2/6/98       21.5625       15.4375        41.6875       14.9375       26.4375
- --------------------------------------------------------------------------------
 2/13/98       23.0625       15.3125         41.125       15.0625          27.5
- --------------------------------------------------------------------------------
 2/20/98            24         15.25        44.4375        15.625         29.25
- --------------------------------------------------------------------------------
 2/27/98         23.75       16.9375        44.6875        16.375            30
- --------------------------------------------------------------------------------
  3/6/98        23.875          18.5        44.6875         18.75       31.5625
- --------------------------------------------------------------------------------
 3/13/98         24.25        19.875             47       18.4375            33
- --------------------------------------------------------------------------------
 3/20/98        26.625        20.375        45.6875       18.3125        36.375
- --------------------------------------------------------------------------------
 3/27/98         25.75       20.4375        45.5625         20.75          36.5
- --------------------------------------------------------------------------------
  4/3/98        25.375        20.125             46            23            38
- --------------------------------------------------------------------------------
  4/9/98       25.0625       20.3125        46.3125         24.25          38.5
- --------------------------------------------------------------------------------
 4/17/98        24.875        22.125        46.5625          24.5       41.6875
- --------------------------------------------------------------------------------
 4/24/98       23.4375        21.125        46.0625            24        39.375
- --------------------------------------------------------------------------------
  5/1/98        22.875       23.5625        51.0625          25.5       40.0625
- --------------------------------------------------------------------------------
  5/8/98       21.1875            22        52.1875            25       42.4375
- --------------------------------------------------------------------------------
 5/15/98       20.8125         19.25        52.5625          23.5       45.0625
- --------------------------------------------------------------------------------
 5/22/98       20.4375        22.125        52.9375         24.25        44.875
- --------------------------------------------------------------------------------
 5/29/98         19.75       21.9375             54         23.75       44.1875
- --------------------------------------------------------------------------------
                                                                 

                                    WOOLWORTH
                               VOTE BY TELEPHONE!

Vote your shares instantly by telephone. It's easy, just dial the toll free
telephone number and follow the simple instructions. Remember, there is no cost
to you for this call.

      1.    DIAL THE TOLL FREE NUMBER ON THE TOP OF THE
            ENCLOSED VOTING FORM............THEN PRESS #1

Pressing #1 on your touch-tone telephone activates the automatic voting system
and prerecorded instructions guide you easily, step by step through the voting
process.

      2. ENTER YOUR 12 DIGIT CONTROL NUMBER...

The 12 digit Control # is located on the upper left side of the proxy form,
immediately above the list of Directors. Entering this unique 12 digit control
number identifies you and verifies that you are the only shareholder eligible to
vote this proxy.

      3. IMPORTANT

                     PRESS #2 TO VOTE FOR EACH ITEM SEPARATELY

      4. ENTER YOUR PROXY VOTING INSTRUCTIONS...

                              GREENWAY RECOMMENDS:

                        AGAINST PROPOSAL #2 (NAME CHANGE)
                       FOR PROPOSAL #5 (WOOLWORTH GERMANY)
                          FOR PROPOSAL #6 (POISON PILL)

               REMEMBER, ONLY YOUR LATEST DATED PROXY VOTE COUNTS!

                  If you need assistance in casting your ballot, just call our
proxy solicitor Garland Associates, Inc. at 212-866-0095.


                                WHAT'S IN A NAME?



TO CHANGE THE NAME,
OR NOT TO CHANGE THE NAME:          [PICTURE OF WILLIAM SHAKESPEARE]
THAT IS THE QUESTION:
ANSWER:  A RESOUNDING "NO!"
VENATOR ONLY RHYMES WITH
      PREDATOR!








[LOGO OF WOOLWORTH                  ODE TO VENATOR
   CORPORATION]
                        (A SONNET TO VOTE "NO" IN IAMBIC PENTAMETER)

[LOGO OF SPORTS         O, WHAT'S THE USE OF NAMES LIKE "VENATOR"?
   AUTHORITY]           FOR MOST OF US, WE DON'T KNOW WHAT IT MEANS.
                        A DINOSAUR? PERHAPS A PREDATOR? PERHAPS THE MEANING'S
                        KNOWN BY COLLEGE DEANS. SOME OTHER COMPANIES HAVE NAMES
                        LIKE THIS. ALL SUFFERED MARKET BLOWS TO THEIR SHARE
                        PRICE. BAD NAMES WITH "X", ALLEGIS, UNISYS. WITH
                        "VENATOR", TELL MANAGEMENT: "THINK TWICE!"
                              KEEP WOOLWORTH. MAYBE SPORTS AUTHORITY.
                              GIVE US A NAME WITH KNOWN IDENTITY.

                             VOTE AGAINST PROPOSAL #2