Fred's to Present at the Morgan Keegan 2008 Equity Conference

MEMPHIS, Tenn.--(Business Wire)--
Fred's, Inc. (NASDAQ: FRED) today announced that the Company will
participate in the Morgan Keegan & Co. 2008 Equity Conference, which
takes place at the Peabody Hotel in Memphis, Tennessee, September 3-5,
2008. The investor presentation by Fred's management is scheduled at
2:40 p.m. Central Time on Thursday, September 4, and will be available
to investors via a live webcast. A link to the webcast may be found at
the investor section of the Company's website, www.fredsinc.com, and
the event will be available for replay for a period of 30 days, using
that same link.

Fred's Inc. operates 665 discount general merchandise stores,
including 24 franchised Fred's stores in the southeastern United
States. For more information about the Company, visit Fred's Website
at www.fredsinc.com.

Fred's, Inc.
Jerry A. Shore, 901-362-3733, Ext. 2217
Executive Vice President and Chief Financial Officer

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