TERMINATION OF STANDSTILL AGREEMENT (El Corte Ingles, S.A. and Gottschalks Inc.)

Exhibit 99.2

TERMINATION OF STANDSTILL AGREEMENT

(El Corte Ingles, S.A. and Gottschalks Inc.)

The Standstill Agreement entered into as of August 20, 1998 by and between El Corte Ingles, S.A., a Spanish corporation, and Gottschalks Inc., a Delaware corporation, is terminated, and shall be of no further force and effect, on and from and after December 7, 2004.

El Corte Ingles, S.A.

By: /s/ Xxxxx Xxxx
Xxxxx Xxxx
International Division Director

Gottschalks Inc.

By: /s/ Xxxxx Xxxxxxxxx
Xxxxx Xxxxxxxxx
President