Exclusive Designer Label alice + olivia for Payless(R) Coming Spring 2008

TOPEKA, Kan., June 4 /PRNewswire/ -- Payless ShoeSource announced today that it has signed a deal with fashion designer Stacey Bendet, mastermind behind the alice + olivia designer label, to create the alice + olivia for Payless collection, Bendet's first-ever footwear collection, which will be exclusively available at Payless stores and alice + olivia boutiques in spring and summer 2008.

This new collaboration continues Payless' mission to democratize fashion, design and innovation in the footwear and accessory category by offering original designs and the latest on-trend styles at great prices, and gives emerging design talent the opportunity to bring their unique designs to America through Payless' strong nationwide store presence.

Bendet joins Abaete designer Laura Poretzky, Lela Rose and style icon Patricia Field as guest designers for Payless - select fashion designers and stylists who create designer footwear and accessory collections for Payless featuring the latest runway and red carpet styling details. Payless' designer collections are among the most broadly distributed designer footwear lines available in the United States today.

"We are excited to continue to expand the Payless Designer Collections and thrilled to add Stacey Bendet as our newest guest designer," said Matt Rubel, chief executive officer and president of Payless ShoeSource. "Stacey is a fabulous talent with a retro, fun and flirty style perfect for today's contemporary girl. Her design aesthetic will complement well with our current designer collections, and we look forward to bringing Stacey's first footwear designs to shoppers across America."

alice + olivia for Payless will be unveiled on the fashion runway at the alice + olivia spring 2008 show at New York Fashion Week this September. The collection will later launch in select Payless stores and Payless.com in spring 2008 with a summer collection to follow.

"I am proud to partner with Payless on my first-ever footwear collection," said Stacey Bendet. "alice + olivia for Payless will be designed to coordinate with the alice + olivia ready-to-wear collection, and I can't wait to unveil the shoes on the runway at my September show and for their nationwide launch at Payless stores, Payless.com, and my four boutiques."

Payless expects to be at New York Fashion Week in September with all three designers - Laura Poretzky at the Abaete show, Lela Rose at the Lela Rose show and Stacey Bendet at the alice + olivia show - to introduce the spring '08 Payless Designer Collections. Each collection will be unique and reflective of each designer's signature style: Poretzky's "American international," Rose's strong focus on "classic with a twist" and Bendet's "fun and whimsy."

Payless ShoeSource, Inc., the largest specialty family footwear retailer in the Western Hemisphere, is dedicated to democratizing fashion and design in footwear and accessories to inspire fun fashion possibilities for the family. As of the end of the first quarter 2007, the company operated a total of 4,564 stores. In addition, customers can buy shoes over the Internet through Payless.com(R) at www.payless.com.