Exhibit (a)(12)

                                (BON-TON LOGO)

                                  NEWS RELEASE

FOR IMMEDIATE RELEASE                                  CONTACT:
                                                       Mary Kerr
                                                       Divisional Vice President
                                                       Corporate Communications
                                                       (717) 751-3071

                 THE BON-TON EXTENDS ELDER-BEERMAN TENDER OFFER

         YORK, PA. -- OCTOBER 22, 2003--THE BON-TON STORES, INC. (NASDAQ: BONT)
today announced that it has extended to 9:00 a.m., New York City time, on
Friday, October 24, 2003, the expiration date of its tender offer to purchase
all outstanding shares of common stock of The Elder-Beerman Stores Corp.
(NASDAQ: EBSC) at a price of $8.00 per share in cash.

         The Bon-Ton also stated that it has received tenders of approximately
10,904,000 shares (including approximately 132,700 shares subject to guarantees
of delivery). The Bon-Ton stated that based upon information provided to it by
Elder-Beerman, such shares represent approximately 82 percent of the outstanding
shares, on a fully diluted basis, and approximately 94 percent of the currently
outstanding shares. Accordingly, if such shares are not withdrawn prior to the
expiration date, and all other conditions to the offer are satisfied, The
Bon-Ton currently expects to purchase all shares properly tendered on Friday,
October 24, 2003.

         Headquartered in Dayton, Ohio, The Elder-Beerman Stores Corp. is the
nation's ninth largest independent department store chain and operates 68 stores
in Ohio, West Virginia, Indiana, Michigan, Illinois, Kentucky, Wisconsin and
Pennsylvania.

         The Bon-Ton Stores, Inc., headquartered in York, Pennsylvania, operates
72 department stores in targeted markets in Pennsylvania, New York, Maryland,
New Jersey, Connecticut, Massachusetts, New Hampshire, Vermont and West
Virginia. The stores carry a broad assortment of quality, brand-name fashion
apparel and accessories for women, men and children, as well as distinctive home
furnishings.

         Note: Statements made in this press release, other than statements of
historical information, are forward looking statements and are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Such statements involve risks and uncertainties that may cause results to
differ materially from those set forth in these statements. Factors that could
cause such differences include, but are not limited to, the withdrawal of shares
previously tendered in the offer and the possible failure to satisfy all
conditions to the offer.

THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NEITHER AN
OFFER TO PURCHASE NOR A SOLICITATION OF AN OFFER TO SELL SHARES OF ELDER-BEERMAN
OR THE BON-TON. THE BON-TON HAS FILED WITH THE SECURITIES AND

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EXCHANGE COMMISSION TENDER OFFER DOCUMENTS, INCLUDING AN OFFER TO PURCHASE, WITH
RESPECT TO THE PENDING TENDER OFFER, AND ELDER-BEERMAN HAS FILED A
SOLICITATION/RECOMMENDATION STATEMENT WITH RESPECT TO THE OFFER. INVESTORS AND
SECURITY HOLDERS ARE ADVISED TO READ SUCH DOCUMENTS BECAUSE THEY INCLUDE
IMPORTANT INFORMATION. THE TENDER OFFER MATERIALS, CERTAIN OTHER OFFER MATERIALS
AND THE SOLICITATION/RECOMMENDATION STATEMENT HAVE BEEN SENT FREE OF CHARGE TO
ALL SHAREHOLDERS OF ELDER-BEERMAN. ALL OF THESE MATERIALS ARE ALSO AVAILABLE
FREE OF CHARGE AT THE SEC'S WEBSITE AT WWW.SEC.GOV OR FROM THE INFORMATION AGENT
FOR THE TENDER OFFER, INNISFREE M&A INCORPORATED, AT (888) 750-5834.

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