EXHIBIT 12(a) 			 					 COMPUTATION OF RATIO OF INCOME TO FIXED CHARGES 				 SEARS, ROEBUCK AND CO. AND CONSOLIDATED SUBSIDIARIES 					 Twelve Three 					 Months Months 					 Ended Ended 					 April 4, April 4, 					 1998 1998 (millions, except ratios) (unaudited) (unaudited) 1997 1996 1995 1994 1993 Fixed Charges Interest and amortization of debt discount and expense on all indebtedness $1,433 $ 376 $1,409 $1,365 $1,373 $1,279 $1,318 Add interest element implicit in rentals 147 38 147 121 119 114 105 					 1,580 414 1,556 1,486 1,492 1,393 1,423 Interest Capitalized 4 1 3 5 4 1 3 Total fixed charges $1,584 $ 415 $1,559 $1,491 $1,496 $1,394 $1,426 Income Income from continuing operations $1,139 $ 133 $1,188 $1,271 $1,025 $ 857 $ 625 Deduct undistributed net income of unconsolidated companies 7 2 13 8 9 (7) 6 					 1,132 131 1,175 1,263 1,016 864 619 Add Fixed charges (excluding interest capitalized) 1,580 414 1,556 1,486 1,492 1,393 1,423 Income taxes 839 92 912 834 703 614 329 Income before fixed charges and income taxes $3,552 $ 637 $3,643 $3,583 $3,211 $2,871 $2,371 Ratio of income to fixed charges 2.24 1.54 2.34 2.40 2.15 2.06 1.66