Collective Brands Inc. Announces New Name for the Stride Rite Corporation

'Collective Brands Performance + Lifestyle Group' Reflects Broad Range of
Iconic Brand Portfolio and New and Strengthened Business Model; Company
Continues to Include Brand Units: Sperry Top-Sider, Saucony, Keds and Stride
Rite Children's Group

TOPEKA, Kan. and LEXINGTON, Mass., Sept. 21 /PRNewswire-FirstCall/ --
Collective Brands, Inc. (NYSE: PSS) today announced that The Stride Rite
Corporation will now be doing business as Collective Brands Performance +
Lifestyle Group -- a move to better reflect and communicate the broad range of
premium and iconic performance and lifestyle brands in the company, as well as
its new, strengthened business model.

"We believe this new name elevates the strength and diversity of our brand
portfolio, while also representing our role in Collective Brands," said Gregg
Ribatt, CEO of Collective Brands Performance + Lifestyle Group. "The new name
best describes what brings us together -- a collection of fiercely independent
performance and lifestyle brands with unique personalities and strong
marketplace positions, each focused on distinct and targeted customer groups.
As well, as a result of being part of Collective Brands, we have a renewed and
strengthened business model leveraging powerful infrastructure designed to
platform our brands and businesses for maximum success in the global
marketplace."

Collective Brands Performance + Lifestyle Group includes Sperry Top-Sider,
Saucony, Keds and the Stride Rite Children's Group with its brands Stride
Rite, Robeez, Keds Kids, Saucony Kids and Sperry Top-Sider Kids, among others,
which are sold through Stride Rite retail stores and wholesale partners.
There is no change to the time-honored Stride Rite children's footwear brand
or the Stride Rite Children's Group as part of this move. Collective Brands
Performance + Lifestyle Group continues to be headquartered in Lexington,
Mass., a suburb of Boston.

The new and strengthened business model of Collective Brands Performance +
Lifestyle Group has been evolving over the past few years, resulting from the
2007 acquisition of The Stride Rite Corporation and formation of Collective
Brands, Inc., which supports all its businesses through Centers of Excellence
teams -- shared infrastructure in such key functional areas as Global Sourcing
and Supply Chain, Finance, Strategy, Store Development, Information
Technology, Legal and Human Resources. The Collective Brands Performance +
Lifestyle Group leverages this strategic support from its parent company to
ensure each brand's leadership position and to seize international growth
opportunities, a key strategic initiative.

"The Collective Brands business model enables our brands to operate adroitly
and autonomously against their own strategic plans toward specific consumer
segments and markets. We then bring the power of Collective Brands'
infrastructure and Centers of Excellence to bear in platforming these brands
with best-in-class capabilities," said Matthew E. Rubel, Chairman, CEO, and
President of Collective Brands, Inc. "This move to create a new identity for
The Stride Rite Corporation by doing business under the name Collective Brands
Performance + Lifestyle Group is designed to amplify and unleash the important
individual brands that collectively make up this vital part of our company,
while connecting them to an organization with extensive global reach."

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 invented the
sneaker 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, alice + olivia for Payless,
Christian Siriano 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.

SOURCE Collective Brands, Inc.

Mardi Larson, +1-612-928-0202, for Collective Brands, Inc.