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Payless ShoeSource Gives the Gift of Designer Runway Looks for Less This Holiday Season

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Payless Extends Alliance with Fashion Designer Laura Poretzky to Include a Limited-Edition Winter Collection of Abaete for Payless, the First-Ever Designer Label for the Footwear Retailer; More Seasonal Collections to Come Through Multi-Year Deal

NEW YORK, Dec. 12 /PRNewswire/ -- On the heels of the successful Sept. launch of its first-ever designer footwear label, Abaete for Payless, with many of the initial fall styles selling out, Payless ShoeSource(R) has extended its alliance with fashion designer Laura Poretzky to include the Abaete for Payless winter collection, which is available in stores now, as well as future seasonal collections featuring footwear and accessories under the designer label.

"The Abaete for Payless initial fall collection wildly exceeded our expectations, and we are thrilled to continue our alliance with Laura to build on this designer brand and to bring women the designer styles they love at a great price," said Matt Rubel, chief executive officer of Payless. "Through our alliance with Laura, as well as other designer partners, Payless is able to tap great design and deliver it to women across America. The fall Abaete for Payless collection -- with many styles selling off -- and now the amazing new winter collection with its vintage silhouettes and unique mix of materials like faux satins, suedes, reptiles and gold, truly celebrates Laura's design esthetic and 'American International' flavor. We are pleased to bring women across America the unique style of the Abaete for Payless designer label for many seasons to come."

Poretzky will design seasonal collections of footwear and accessories for Payless under the Abaete for Payless label through the multi-year deal. The winter collection is available at more than 400 Payless stores and Payless.com(R) now; the spring '07 collection hit the runway at Poretzky's Abaete show at New York Fashion Week in Sept. and will be available at Payless stores and Payless.com next Feb. Key future collections -- featuring footwear and accessories -- are expected to be unveiled at New York Fashion Week at Poretzky's Abaete runway shows. Additional contract details were not disclosed.

"The success of the Abaete for Payless fall collection has been incredibly exciting, and I am simply thrilled to be able to continue to bring my designs to women across America for many seasons to come," said Laura Poretzky. "The end result of the current winter collection is truly amazing, and I am really excited to wear it and share it. I look forward to collaborating with Payless on the future collections of footwear and other key accessories to bring my designs to an ever-expanding group of women."

About the Winter Collection

The Abaete for Payless winter collection is the perfect complement to the trends of the 2006 winter season, including skinny jeans, rising hemlines and deep, rich colors. The styles are well suited to spice up any holiday look for special gatherings or vacation get-aways. Styles in the collection range from $20 to $40.

-- The "Alex" Wedge has a vintage feel with a sculpted wedge heel, peep
toe and delicate ankle strap. The style features an elegant mix of
faux satin and suede adorned with faux snake skin and gold piping
detail, available in both black and brown.
-- The "Michael" Pump features faux suede available in both classic black
and emerald green and has faux snake skin and gold piping accents as
well.
-- The "Xavier" Bootie is a fresh look on the short-boot trend. It
features black faux-suede with a sleek faux snake skin detail along the
ankle.
-- The "Anly" clutch is the perfect holiday clutch with flare. It
features a combination of faux satin and snake with gold piping details
and is designed to coordinate with the shoe styles in the Abaete for
Payless winter collection.

About Payless Designer Partners

Laura Poretzky and Lela Rose are Payless designer partners -- select fashion designers that create designer footwear and accessory collections featuring the latest runway looks, which Payless brings to its stores at value prices. Each collection is unique and reflective of each designer's signature style: Rose's strong focus on "classic with a twist" and Poretzky's "American international," drawing from her rich international experiences living in Brazil, France and New York.

Payless expects to be at New York Fashion Week in Feb. with both designer partners -- Laura Poretzky at the Abaete show and Lela Rose at the Lela Rose show -- to unveil the fall '07 Payless Designer Collections. Payless' designer collections are the most broadly distributed designer footwear lines available in the U.S. today. The designer partner program is a key strategy in Payless' overall mission to democratize fashion and design in the footwear and accessories category to inspire fun fashion possibilities for the family.

About Payless

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 third quarter 2006, the Company operated a total of 4,574 stores. In addition, customers can buy shoes over the Internet through Payless.com(R) at http://www.payless.com/ .

About Laura Poretzky

Laura Poretzky is a New York-based designer who designs under the Abaete label. She was born in France to a Russian father and a Danish-Brazilian mother, and raised between Paris, Rio de Janeiro and New York. After graduating from the Rhode Island School of Design (RISD), Laura went on to work at some of the most prestigious fashion houses in New York. After the launch of her successful swimwear line, Laura extended her designs into a complete line of ready-to-wear apparel and now footwear -- drawing as much on her experience as a New Yorker as on her Latina and Eurasian roots. Laura Poretzky and the Abaete brand are represented by Designer's Management Agency.