Collective Brands Performance + Lifestyle Group's Saucony, Sperry Top-Sider, Keds, Stride Rite and Robeez Brands See Strong Growth in Europe; Company Bolsters Infrastructure and Organization to Support Current and Future Business Needs

Company Opens New European Headquarters and Distribution Center Facility in Amsterdam, London-Based Product Showroom

LEXINGTON, Massachusetts and AMSTERDAM, June 29, 2010 - Collective Brands Performance + Lifestyle Group (PLG), a division of
Collective Brands, Inc. (NYSE: PSS), announced today that it has opened a new
combined European Headquarters and Distribution Center facility in
Heerhugowaard, The Netherlands (near Amsterdam), as well as a new
London-based product showroom — enhanced facilities and infrastructure
designed to help the company better meet the strong and growing European
appetite for its portfolio of iconic American brands: Saucony, Keds, Sperry
Top-Sider, Stride Rite and Robeez.

"We've seen growing international demand for our Performance + Lifestyle
Group brands over the past several quarters, especially from the European
market, and our investment here in Europe in these new facilities, as well as
expanding our European associate base, will help us meet this increasing
demand head on," said Matt Rubel, CEO of Collective Brands, Inc.

"We have a solid presence here, but see more demand across the continent.
Through premium retail partners, we are thrilled to bring more consumers
across Europe our American original brands including Sperry Top-Sider, which
invented the boat shoe 75 years ago and today represents a Passion for the
Sea nautical lifestyle, to Saucony with its intense focus on technical
innovation and performance products for runners and athletes, Keds iconic
sneakers representing a blank canvas and creative possibilities, and Robeez
and Stride Rite, high-quality children's shoes that mom's trust and kids
love."

PLG brands have a broad presence across Europe including in such key
countries as the United Kingdom, Germany, Italy and France with plans to
continue its expansion across Europe by working closely with distributor
partners in certain countries, as well as working directly with retailers.

"We are excited by the growth we are experiencing and our retail and
distributors partners are equally excited about our current product
collections and our strong prospects across the European market place," said
Gregg Ribatt, CEO of Collective Brands PLG.

The European headquarters in Heerhugowaard has been expanded to
consolidate several warehouses and a main Distribution Center into a single,
larger facility - more than triple the capacity of the former facilities. It
includes 80,000 square feet of warehouse space and 13,600 square feet of
office and showroom space. This move will improve the operational efficiency
– enhance the volume and speed of product distribution — to an expanding
group of retail partners and distributors for the company's branded products,
which include primarily footwear, as well as accessories and apparel items.
The Heerhugowaard facility will also house headquarters office space,
creating a single focal point for the Collective Brands PLG operations in
Europe.

Over the past two years, PLG has more than doubled its European
operations employee base. The company said it expects to hire approximately
20 additional employees by the end of 2010 and will focus those roles
primarily on merchandising, marketing and distribution center positions
across Europe.

The company also announced the opening of a product and marketing
showroom in central London, located at the corner of Maddox and Regent
Streets, which is designed specifically to showcase its branded products for
retail partners, the press and other European fashion and lifestyle
influencers.

About Collective Brands Performance + Lifestyle Group

Collective Brands Performance + Lifestyle Group is a leading provider of
iconic performance and lifestyle brands, each with unique personalities and
strong marketplace positions focused on distinct and targeted consumer
segments. The company's brand portfolio includes Saucony(R), a top global
running specialty brand; Sperry Top-Sider(R), a global nautical lifestyle
brand reaching consumers who share a passion for life in, on and around the
sea; Keds(R), an iconic American lifestyle fashion brand that launched the
first sneaker brand in 1916; and Stride Rite, the leading provider of premium
children's footwear in the United States. With an expanding global presence
in more than 80 countries, Collective Brands Performance + Lifestyle Group
sells its products predominantly through wholesalers in a wide variety of
retail formats, including premier department stores, independent shoe stores
and specialty and boutique retailers. The Stride Rite unit also sells its
children's products through more than 350 wholly-owned Stride Rite stores
that are located in malls and select factory outlet centers.

About Collective Brands, Inc.

Collective Brands, Inc. (NYSE: PSS) is a leader in bringing compelling
lifestyle, fashion and performance brands for footwear and related
accessories to consumers worldwide. The company operates three strategic
units covering a powerful brand portfolio, as well as multiple price points
and selling channels including retail, wholesale, ecommerce and licensing.
Collective Brands, Inc. includes Payless ShoeSource, focused on democratizing
fashion and design in footwear and accessories through its more than
4,500-store retail chain, with its brands Airwalk(R), Dexter(R), Champion(R),
Zoe & Zac(TM), the first-ever affordable green footwear brand, and designer
collections Lela Rose for Payless, Unforgettable Moments by Lela Rose,
Christian Siriano for Payless, Isabel Toledo for Payless, and STLPxAirwalk,
among others; Collective Brands Performance + Lifestyle Group, focused on
lifestyle and performance branded footwear and high-quality children's
footwear sold primarily through wholesaling, with its brands including Stride
Rite(R), Keds(R), Sperry Top-Sider(R), Robeez(R), and Saucony(R), among
others; and Collective Licensing International, the brand development,
management and global licensing unit, with such youth lifestyle brands as
Airwalk(R), Vision Street Wear(R), Sims(R), Lamar(R) and LTD(R). Information
about, and links for shopping on, each of the Collective Brand's units can be
found at www.collectivebrands.com.

Mardi Larson, mardi at mardilarson.com, for Collective Brands, Inc.