Saks Fifth Avenue to Relocate to Endeavor's Domain Project

Business Wire, June 10, 2008

AUSTIN, Texas -- Endeavor Real Estate Group announced today the planned addition of a new Saks Fifth Avenue store for its development at The Domain in north Austin.

Saks Fifth Avenue plans to relocate its existing 50,000 square foot store from Arboretum Market to a new 80,000 square foot home at The Domain. The new showcase store is expected to open in fall 2011.

Steve Sadove, Chairman and Chief Executive Officer of Saks, noted, "We are excited about plans for our new Saks Fifth Avenue store in Austin, which will allow us to expand our merchandise and service offerings in this important market."

In addition to Saks Fifth Avenue, Endeavor's 176-acre development at The Domain will include Nordstrom, Whole Foods Market and approximately 500,000 square feet of additional retail, dining and entertainment, as well as Austin's first aloft hotel. The pedestrian-friendly, mixed-use community will also offer its shoppers, residents and office workers over 10-acres of parks and commuter rail access.

"We are thrilled to have Saks Fifth Avenue join the group of first-in-class retailers making their home at The Domain," said Kirk Rudy, managing principal for Endeavor Real Estate Group. "The signature shopping experience they offer will sync nicely with the Austin-centric blend of national and eclectic local retail we're bringing to The Domain."

About Endeavor Real Estate Group

Austin-based Endeavor Real Estate Group (www.endeavor-re.com) is involved in the development, acquisition, management and leasing of office, retail, and industrial properties in Central Texas. With a passion for ensuring quality and longevity, the firm is innovating for the future by creating sustainable environments and relationships. In addition to property management, Endeavor has developed more than 8 million square feet of industry-recognized office and retail properties.

About Saks Fifth Avenue

Saks Incorporated currently operates Saks Fifth Avenue, which consists of 54 Saks Fifth Avenue stores, 48 Saks Off 5th stores, and saks.com. The Company also operates Club Libby Lu specialty stores.

Founded in 1924 with the opening of its Fifth Avenue, New York flagship store - which continues today to be the Company's landmark store - Saks Fifth Avenue has grown to 54 stores throughout the United States, complemented by licensed stores in Riyadh, Saudi Arabia; Dubai, U.A.E.; and Mexico City, Mexico. Saks also has announced plans to open its first licensed store in Shanghai, China. Saks Fifth Avenue is one of the most recognized luxury retail brands in the world and has key relationships with the leading fashion houses including Giorgio Armani, Chanel, Louis Vuitton, Dolce and Gabbana, Salvatore Ferragamo, Gucci, Donna Karan, John Varvatos, Calvin Klein, Ralph Lauren, Judith Leiber, Prada, Escada, Carolina Herrera, Oscar de la Renta, St. John, Yves St. Laurent, TOD'S, Ermenegildo Zegna, and Max Mara.