Zale Corporation Names Jack Lowe, Jr. to Its Board of Directors

Business Wire, March 5, 2004

Business Editors

DALLAS--(BUSINESS WIRE)--March 5, 2004

Zale Corporation (NYSE:ZLC), the largest specialty retailer of fine jewelry in North America, today announced the election of Jack Lowe, Jr. to its Board of Directors. Mr. Lowe serves as Chairman and Chief Executive Officer of TDIndustries, a national MEP (mechanical/electrical/plumbing) construction and facility service company. He has held this position since 1980.

Under Mr. Lowe's leadership, TDIndustries has developed into one of the country's most respected and admired companies. For the past seven consecutive years, TDIndustries has appeared in the top ten of Fortune Magazine's list of the 100 best companies to work for in America.

Mr. Lowe has served on the Board of Directors of several companies and civic organizations. His current commitments include serving on the Board of Trustees for the Dallas Independent School District and on the Board of Directors for the Texas Business and Education Coalition. Mr. Lowe graduated magna cum laude from Rice University with an engineering degree.

"Jack is highly recognized by the business community for his leadership skills and his ability to build a quality organization," commented Glen Adams, Chairman of Zale's Nominating and Corporate Governance Committee. "His vast experience and management insight will make Jack a significant contributor to the Zale board."

Zale Corporation is North America's largest specialty retailer of fine jewelry operating approximately 2,230 retail locations throughout the United States, Canada and Puerto Rico, as well as online. Zale Corporation's brands include Zales Jewelers, Zales Outlet, Zale Direct at www.zales.com, Gordon's Jewelers, Bailey Banks & Biddle Fine Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda. Additional information on Zale

Corporation and its brands is available on the Internet at www.zalecorp.com.