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Add Affordable Runway and Red Carpet Glam to Any Wardrobe This Season With Payless Designer Footwear Collections

  Payless(R) Continues Abaete for Payless and Lela Rose for Payless; Adds
  Capsule Collection by Style Icon Patricia Field All Available Beginning
                                 this Month

    TOPEKA, Kan., Nov. 28 /PRNewswire-FirstCall/ -- Payless ShoeSource(R)
announced today the continuation of its designer footwear labels this
holiday season with special collections of Abaete for Payless by fashion
designer Laura Poretzky, Lela Rose for Payless and a special collection by
style icon Patricia Field -- all offering affordable runway and red carpet
glam to spice up women's holiday wardrobes.

    First launched with the Abaete for Payless fall collection in 2006,
Payless designer collections are now among the most widely distributed
designer footwear labels in America today. Expected Spring 2008 is new
addition alice + olivia for Payless by fashion designer Stacey Bendet, who
is widely known for designing the "perfect pants." Each Payless Guest
Designer has a unique design vocabulary to speak to varying shopper tastes.

    Abaete for Payless

    Laura Poretzky's inspirations vary each season and embrace an "American
international" design direction, drawing from her rich international
experiences living in Brazil, France and New York. This season's Abaete for
Payless collection includes several dress styles in a "satin" and "patent"
grouping.

    The faux satin grouping features pleated ruffle detailing in a pump,
boot, flat and clutch. The Rose d'orsay pump, $35, has a sleek pointed toe,
ruching and ruffle pleat detail offered in fuchsia (this coloration also
has a gold electroplated heel), black and navy. The Kaye dress boot, $48,
is a short bootie that hits just above the ankle and also features a sleek
pointed toe, ruching and ruffle pleat detailing and is offered in black.
The Betty ballet flat, $30, has a d'orsay silhouette, slightly snipped toe,
ruching and ruffle pleat detailing and is offered in black and navy. The
Bing clutch, $25, is designed to coordinate with the satin shoes and
features ruched and pleated faux satin with a metal frame and is offered in
black, navy and fuchsia.

    The Abaete for Payless patent grouping for holiday includes the
Kimberlee flat, $30, with a black patent upper and an open toe with a navy
and black satin twist detail. The Bayley open-toe pump, $35, features black
patent and a twisted satin detail at the toe done in black and white and
black on black options.

    Great for holiday gift giving, the Abaete for Payless holiday
collection also features designer watches for just $22: the Camelia has a
patent strap with gold face detail offered with white and black strap
options, while the Chantal is offered in a cuff style in smoke and white
options with silver face detail.

    Lela Rose for Payless

    Lela Rose is well known for her apparel designs that feature unique
uses of fabrics. Her shoes are no exception and her seasonal collections
for Payless often feature lots of unique fabric details. The Lela Rose for
Payless holiday collection includes the "brocade" and "burlap" groupings.

    The brocade grouping includes a pump, ballet flat and a clutch. The
Jefferson pump, $35, features a round toe and rich silver brocade fabric
with tonal trim. The Cavalry ballet flat, $30, includes the same brocade
fabric in gold, and the Maiden Lane silver metal framed clutch, $25,
includes the same brocade fabric offered in silver and gold options.

    The burlap grouping features the Norfolk pump, $35, with a round toe in
tan linen/burlap fabric with black patent sling-back straps; the Harrison
flat, $30, features the same details; and the coordinating Delancy satchel,
$30, features a unique square shape with the burlap fabric bottom with
piping and a handle clutch done in contrasting black patent.

    Patricia Field for Payless

    Earlier this year, Patricia Field was nominated for an Oscar(R) for her
costume designs for "The Devil Wears Prada." She walked the red carpet in
Payless shoes she personally designed, which became the focal in her
special holiday collection for Payless including a dress sandal, boot and
clutch. The Tempura dress sandal, $40, was inspired by the shoes Field wore
earlier this year to the Oscars. It has a platform sole, ankle strap and
features a mix of reptile print in silver metallics. The Sushi short
bootie, $55, features a similar platform sole treatment and black faux
suede, and the Sake clutch, $25, has a unique barrel shape done in reptile
print and silver and pewter metallic options.

    In addition to Payless Designer Collections, the Payless women's core
collection for holiday features well-known brand names like American
Eagle(R), Airwalk(R) and Fioni(R) featuring the latest on-trend styling
details to meet every woman's needs -- from winter wardrobe updates to gift
gathering and vacation get-aways. The core collection features key trends
like silver metallic, lace overlays, peep toes, bows, large stones and
mirrored tile embellishments and a range of slippers and scarves that make
the perfect gift. The Payless holiday offering features more than 50 new
styles available beginning this month, while supplies last.

    About Payless Guest Designers

    Laura Poretzky, Lela Rose and Stacey Bendet are Payless Guest Designers
-- 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 the
designer's signature style: Poretzky's "American international," drawing
from her rich international experiences living in Brazil, France and New
York, Rose's strong focus on "classic with a twist," and Bendet's "retro
sophisticate." The Payless Guest Designer program is a key strategy in
Payless' overall mission to democratize fashion in footwear and
accessories. Pricing is generally under $50 per item. For more information
about Payless at New York Fashion Week and the company's Guest Designers,
please see paylessontherunway.com.

    Payless and Patricia Field have had a close working relationship for
nearly two years; Field has been styling Payless TV and print ads, as well
as the seasonal lifestyle signage featured in the stores. Upon hearing the
news of Field's Oscar(R) nomination, Payless approached her with the design
project and the opportunity. The capsule collection will be available only
while supplies last.

    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 second quarter 2007, Payless operated
more than 4,500 stores. In addition, customers can buy shoes over the
Internet through Payless.com(R) at http://www.payless.com.

    Payless is a business unit of Collective Brands, Inc. (NYSE: PSS), the
consumer-centric global footwear, accessories and lifestyle brand company,
reaching customers through multiple price points and selling channels.
Collective Brands, Inc. is the holding company of Payless ShoeSource,
Stride Rite and Collective Licensing International. Information about, and
links for shopping on, each of the Collective Brand's units can be found at
http://www.collectivebrands.com.

    Oscar(R) and Academy Awards (R) are registered trademark of the Academy
of Motion Picture Arts and Sciences.



SOURCE Payless ShoeSource, Inc.




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    CONTACT:
    Mardi Larson, +1-612-928-0202, for Payless
    ShoeSource, Inc.