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 Breaking Headlines

All Just For Feet Doors To Be Closed Along With 77 Footactions; See Entire List

MARCH 08, 2004 -- Footstar plans to take action to strengthen and refocus its athletic footwear business. The company intends to close in the near term approximately 165 underperforming stores, including all of its 88 Just For Feet stores and 77 of its 429 Footaction stores. In a motion filed with the Court today, the company has requested authorization to hold Going out of business sales at these locations and to establish an auction process for the retention of a liquidation agent to assist with these sales.

Dale Hilpert, CEO, commented, "We are conducting a thorough review of our operations as we work to develop a long-term business strategy that will form the basis of a Plan of Reorganization. While this analysis is underway, we determined that it would be in the best interests of the Company and its creditors to take immediate action to reduce losses in the company's Athletic segment. The Just For Feet business has been unprofitable since its acquisition in 2000, primarily as a result of its high lease costs. By exiting this business and closing 77 unprofitable Footaction stores, we will have a financially stronger core Athletic division, consistent with our objective of refocusing our resources on a more profitable business base."

R. Shawn Neville, president/CEO of Footstar's Athletic segment, said, "Following the closings, Footaction will operate 352 stores with continued strength and focus in major metropolitan markets across the country. With this more focused store base, we will be better able to build upon our leadership position with our core athletic consumers. We look forward to capitalizing on Footaction's unique competitive strengths to reposition this business for financial stability and improved profitability."

Hilpert concluded, "We deeply regret the impact the closings will have on our associates and will do what we can to help ease the transition for those who are affected. However, we strongly believe this action will be a critical component in Footstar's successful reorganization."

Liquidation sales at the closing stores are anticipated to begin shortly after Court approval is received. The closures are expected to be completed by summer. Affected associates will be paid as normal until their locations close. The following is the lsit of stores to be closed:

Footaction Store Closings

Montgomery Montgomery AL
Montgomery Mall Montgomery AL
Regency Square Mall Florence AL
Great Mall/Bay Area Milpitas CA
Montclair Plaza Montclair CA
North County Fair Escondido CA
Oakridge Mall San Jose CA
Studio Village S/C Culver City CA
Topanga Plaza Canoga Park CA
Greeley Mall Greeley CO
Cordova Mall Pensacola FL
Eagle Ridge Mall Lake Wales FL
Edison Mall Ft. Myers FL
Governor S Square Mall Tallahassee FL
Gulf View Square Port Richey FL
Georgia Square Mall Athens GA
Chicago Ridge Mall Chicago Ridge IL
Fox Valley Center Aurora IL
Grand Boulevard Chicago IL
Hickory Point Mall Forsyth IL
Spring Hill Mall West Dundee IL
West Ridge Mall Topeka KS
Oxmore Center Louisville KY
Lafayette Lafayette LA
Holyoke Ml/Ingleside Holyoke MA
Natick Mall Natick MA
Searstown Mall Leominster MA
Soloman Pond Mall Marlborough MA
Swansea Mall Swansea MA
Greenmont Avenue Baltimore MD
Montgomery Mall Bethesda MD
Shops At Jefferson Village Detroit MI
Woodland Mall Grand Rapids MI
Ridgedale Shopping Center Minnetonka MN
Biltmore Square Mall Asheville NC
Pheasant Lane Mall Nashua NH
Livingston Mall Livingston NJ
Rockaway Town Square Rockaway NJ
Coronado Center Albuquerque NM
Cottonwood Mall Albuquerque NM
Galleria At Sunset Henderson NV
Belden Village Mall Canton OH
Eastgate Mall Cincinatti OH
Fort Steuben Mall Steubenville OH
Great Northern Shopping Center No. Olmsted OH
Lee Harvard Shopping Center Cleveland OH
Midway Mall Elyria OH
Southwyck Shopping Center Toledo OH
Beaver Valley Mall Monaca PA
Cheltenham Square Philadelphia PA
Colonial Park Mall Harrisburg PA
Coventry Mall Pottstown PA
Park City Lancaster PA
Philadelphia Philadelphia PA
Ross Park Mall Pittsburgh PA
Susquehanna Valley Selinsgrove PA
Plaza Carolina Carolina PR
Plaza Las Americas San Juan PR
Ponce De Leon Ave Santurce PR
Bradley Square Cleveland TN
Governor S Square Mall Clarksville TN
Raleigh Springs Memphis TN
Bassett Center El Paso TX
Broadway Mall Tyler TX
Collin Creek Plano TX
Golden Triangle Mall Denton TX
Mall Del Norte Laredo TX
Sikes Center Wichita Falls TX
Sunland Park Mall El Paso TX
Sunset Mall San Angelo TX
The Galleria Dallas TX
Valle Vista Mall Harligen TX
Vista Ridge Lewisville TX
Cloverleaf Mall Richmond VA
Alderwood Mall Lynnwood WA
Capital Mall Olympia WA
Supermall Of G.N.W. Auburn WA

Just For Feet Store Closings

Galleria Birmingham AL
Huntsville Huntsville AL
Montgomery Montgomery AL
River Ridge Birmingham AL
Riverchase Birmingham AL
Little Rock Little Rock AR
Market Plaza North Little Rock AR
Arizona Mills Tempe AZ
Desert Ridge Marketplace Phoenix AZ
Desert Sky Phoenix AZ
Glendale-Arrowhead Glendale AZ
Metro Center Phoenix AZ
Tatum Phoenix AZ
Tucson Tucson AZ
Tucson 2 Tucson AZ
Mission Viejo San Diego CA
San Ysidro San Ysidro CA
Vista Vista CA
Colorado Springs Colorado Springs CO
Englewood-Centennial Englewood CO
Golden-Lakewood Golden CO
Littleton-Park Meadows Littleton CO
Stapleton-Quebec Square Denver CO
University Denver CO
Aventura Aventura FL
Colonade Orlando FL
Cypress Creek Fort Lauderdale FL
Dadeland Miami FL
Daytona Beach Daytona Beach FL
Florida Mall Orlando FL
Fort Myers Fort Myers FL
Hialeah Hialeah FL
Hollywood Hollywood FL
Orlando (Altamonte) Altamonte Springs FL
Pembroke Pines Pembroke Pines FL
Sawgrass Sunrise FL
Seminole Sanford FL
West Palm Beach West Palm Beach FL
Alpharetta Alpharetta GA
Augusta Augusta GA
East-West Shopping Center Austell GA
Fayette Pavilion Fayetteville GA
Gwinnett Duluth GA
Savannah Savannah GA
Southlake Morrow GA
Stonecrest Lithonia GA
Towncenter Kennesaw GA
Overland Park Overland Park KS
Cortana Baton Rouge LA
Covington Covington LA
Lafayette Lafayette LA
New Orleans Metarie LA
Shreveport Shreveport LA
Bannister Kansas City MO
Independence Independence MO
Springfield Springfield MO
Jackson Jackson MS
Cotton Albuquerque NM
Pavilion Albuquerque NM
Galleria Pavillion Las Vegas NV
Las Vegas 2 Las Vegas NV
Norman Norman OK
Quail Oklahoma City OK
Tulsa 1 Tulsa OK
Tulsa 2 Tulsa OK
Allentown (Whitehall) Whitehall PA
Chattanooga Chattanooga TN
Knoxville Knoxville TN
Knoxville Knoxville TN
Wolfcreek Memphis TN
Almeda Houston TX
Arlington Arlington TX
Austin Austin TX
El Paso El Paso TX
Hurst Hurst TX
Laredo Laredo TX
Lewisville Lewisville TX
Live Oak Live Oak TX
McAllen McAllen TX
Mesquite Mesquite TX
North Park Dallas TX
Plano Park Central Plano TX
San Antonio 1 San Antonio TX
San Antonio 2 San Antonio TX
Sharpstown Houston TX
Sunrise Commons Brownsville TX
Westheimer Houston TX
Willowbrook Houston TX

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