Saks Incorporated Announces $1 Million Assistance Program For Victims of September 11th Terrorist Attack

Business Wire, Sept 19, 2001

Business Editors

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Sept. 19, 2001

Saks Incorporated (NYSE:SKS) (the "Company" or "Saks"), partnering with its associates and customers, has announced a $1 Million assistance program for the victims of the September 11th terrorist attack through donations to The September 11th Fund.

The September 11th Fund was established by the United Way and The New York Community Fund. These two agencies are underwriting the administrative costs of the fund so that 100% of the contributions can be used to respond to the immediate and longer-term needs of the victims, their families, and communities affected by the events of September 11th.

Saks will match employee contributions made to The September 11th Fund, up to $250,000. The Company employs approximately 56,000 associates.

In addition, the Company will accept donations from customers shopping in its Birmingham, Alabama Saks Fifth Avenue store during its grand opening events from September 20 to September 23 and will match the collections up to $25,000. During the first week of October, the Company will also accept donations from customers shopping in the remaining 61 Saks Fifth Avenue stores nationwide, matching those donations up to $200,000.

Also, the Company is selling special "remembrance" T-shirts in its Saks Fifth Avenue and its department stores, with 100% of the proceeds going to The September 11th Fund.

Additionally, Saks is matching donations to The September 11th Fund given by patrons of the Signature Theatre in New York City, up to $20,000.

R. Brad Martin, Chairman and Chief Executive Officer of Saks Incorporated, commented, "We are so saddened by the tragic events of September 11th, and we extend our deepest sympathies to all of the victims and their families. Aided by the compassion and generous giving of our associates and customers, we hope to generate $1 million for The September 11th Fund."

In addition to the monetary gifts, many associates of the Company have donated blood and provided food, water, dry clothing, emergency response items, and notes of encouragement to the emergency relief workers in New York City.

Saks Incorporated operates Saks Fifth Avenue Enterprises (SFAE), which consists of 62 Saks Fifth Avenue stores, 50 Saks Off 5th stores, and Saks Direct. The Company also operates its Saks Department Store Group (SDSG) with 40 Parisian specialty department stores and 203 traditional department stores under the names of Proffitt's, McRae's, Younkers, Herberger's, Carson Pirie Scott, Bergner's and Boston Store.