Inspiring Possibilities Scholarship Program Celebrates Black History Month

Payless ShoeSource Supports the Future of African American and Other Minority Youth, Celebrates Black History Month With Second Annual Payless Inspiring Possibilities Scholarship Program

Retailer Sells Limited-Edition I Believe Necklace for $4, Donates 100 Percent of the Net Profits to Scholarship Program with the National Urban League's Project Ready Program

TOPEKA, Kan., -- In celebration of Black History Month this February, Payless ShoeSource® will continue its successful Payless Inspiring Possibilities Scholarship program by joining together with its shoppers and the National Urban League (NUL) to raise money to support the future of African American and other minority youth.

First launched with great success last year, Payless will again sell a limited-edition I Believe necklace for only $4 in more than 800 stores nationwide and Payless.com®, while supplies last, and will donate 100 percent of the net profits of necklace sales, with a minimum donation of $35,000, to the Payless Inspiring Possibilities scholarship program established with NUL. Payless said it expects NUL to distribute scholarships ranging between $350-$5,000 to African American and other minority youth through its signature education program, Project Ready, for the 2010-2011 academic season.

The limited-edition necklaces, available now in stores and on Payless.com, feature a unique silver-toned loop-link "Rolo" chain and three dangling charms including a silver-toned ring inscribed with the inspiring messages "Dream" and "Believe," offset by a clear crystal-like drop charm and a larger red medallion disc.

"Youth and education are critical to the future of our nation," said LuAnn Via, president and CEO of Payless. "We were thrilled with the success of the program last year, and pleased to have given out more than a dozen scholarships to deserving youth through our partner NUL.

"With this year's exclusive on-trend necklace design and at $4 – a price point accessible to so many -- we expect that this year's program will be equally as strong. Together, we are truly celebrating Black History Month and benefiting African Americans and other minority youth with strong opportunities for higher education to help them achieve their goals and make their academic dreams come true."

To be eligible for a 2010-2011 Payless Inspiring Possibilities Scholarship, students must be a registered Project Ready participant, and submit materials by the scholarship deadline of March 31, 2010. For additional information about the nomination process, please visit nul.org or the local NUL affiliate office.

About Payless' Giving Programs

Since 2004, Payless has established formal programs to support important causes by selling unique items and making them accessible at affordable price points and then partnering with shoppers by donating 100 percent of the net profits earned from item sales to a nonprofit partner. Payless makes no money from these programs; they are 100 percent philanthropic. Through such programs, Payless supports breast cancer awareness and is a member of the $1 MillionCouncil with Susan G. Komen for the Cure. The company also celebrates Black History Month and Hispanic Heritage Month by establishing the Payless Inspiring Possibilities Scholarships with the National Urban League and Hispanic Scholarship Foundation, respectively, to support the higher education of America's minority youth. Payless supports inner city youth in New York City with its Friendship Shoe program, with proceeds benefiting The Fresh Air Fund, which provides free summer vacations to underprivileged children living in the New York City area.

For the Holiday 2009 season, Payless launched Payless Gives Shoes 4 Kids to give $1.2 million of free shoes -- through$15 gift coupons -- to children of families in need in the U.S., Canada, Puerto Rico and in 10 Latin American countries. Through this program over the last two years, Payless has given $2.2 million worth of shoes to children in need.

For more information on the I Believe necklace or the Payless Inspiring Possibilities Scholarship program, please visitwww.payless.com/bhm.

About Payless & Collective Brands, Inc.

Payless ShoeSource, Inc., a unit of Collective Brands, Inc., is the largest specialty family footwear retailer in the Western Hemisphere and is dedicated to democratizing fashion and design in footwear and accessories and inspiring fun, fashion possibilities for the family at a great value. As of the end of third quarter 2009, the company operated nearly 4,500 stores. In addition, customers can buy shoes over the Internet through Payless.com® at www.payless.com.

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 nearly 4,500-store retail chain, with its brands Airwalk®, Dexter®, Champion®, Zoe & Zac(TM), the first-ever affordable green footwear brand, and designer collections Lela Rose for Payless, Unforgettable Moments byLela Rose, alice + olivia for Payless, Christian Siriano for Payless and STLP x Airwalk, 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®, Keds®, Sperry Top-Sider®, Robeez®, and Saucony®, among others; and Collective Licensing International, the brand development, management and global licensing unit, with such youth lifestyle brands as Airwalk®, Vision Street Wear®, Sims®, Lamar® and LTD®. Information about, and links for shopping on, each of the Collective Brand's units can be found at www.collectivebrands.com.

About National Urban League

The National Urban League is a historic civil rights organization dedicated to economic empowerment in order to elevate the standard of living in historically underserved urban communities. Founded in 1910 and headquartered in New York City, the National Urban League spearheads the efforts of its local affiliates through the development of programs, public policy research and advocacy. Today, there are more than 100 local affiliates in 36 states and the District of Columbia, providing direct services that impact and improve the lives of more than 2 million people nationwide.

SOURCE Payless ShoeSource, Inc.