Saks Incorporated Announces Opening of Saks Fifth Avenue Men's Store in Dubai

NEW YORK--(Business Wire)--
Building upon its two other successful ventures in the Middle
East, retailer Saks Incorporated (NYSE: SKS) (the "Company") today
announced the opening of a 15,000 square foot Saks Fifth Avenue men's
store at The Walk at the Jumeirah Beach Residences in Dubai, United
Arab Emirates.

The new men's store will complement an existing 80,000 square foot
full-line Saks Fifth Avenue store located in the prestigious Bur Juman
Centre in the thriving port city of Dubai in the UAE which opened in
2004. Saks Fifth Avenue in Riyadh, Saudi Arabia opened in 2001.

The Dubai men's store is congruent with the Saks Fifth Avenue
men's departments and separate men's stores in the United States in
both product and service, while catering to local tastes and
preferences. The unique store includes distinctive offerings from
established and emerging American and international designers and
presents a sought-after collection of fine designer apparel, shoes,
and accessories catering to customers with an appetite for advanced
fashion as well as those who prefer more classic lines. Apparel and
men's furnishings offerings include Dolce & Gabbana, Christian Dior,
Lanvin, Duchamp, John Galliano, John Richmond, Ralph Lauren, Charvet,
Hickey Freeman, Z Zegna, John Varvatos, Alexander McQueen, Jean Paul
Gautier, Rock 'n Republic, Diesel, Citizens of Humanity, and Juicy
Couture. The store will also represent a myriad of other offerings
including shoes from Prada, Tods, Puma, Dolce & Gabbana, and Dior;
fragrances and skincare; leather goods from Tumi, Prada, Dior, and
Dolce & Gabbana; cuff links from Tatession, Faberge, and Links of
London; and fine watches from Vacheron Constantin, Parmigiani, Roger
Dubuis, Favre Leuba, Bell & Ross.

Saks Fifth Avenue is known for its extraordinary personalized
customer service, and the Dubai men's store will offer the Fifth
Avenue Club (its complementary trademark personal shopping service),
luxurious fitting rooms and a lounge with wireless internet
connectivity.

Stephen I. Sadove, Chairman and Chief Executive Officer of Saks
Incorporated, commented, "We are so excited to expand our presence in
the exciting city of Dubai, which has become a great center for
tourism and shopping."

About The Walk at Jumeirah Beach Residence

The Walk at Jumeirah Beach Residence is a pedestrian-friendly,
unique outdoor retail concept offering shopping, dining, and leisure
activities in conjunction with a beachfront setting. The Walk is a
shopping boulevard consisting of over 770,000 square feet of retail
space, equating to over 350 retail units which are situated at ground
and plaza levels. The Jumeirah Beach Residence is a complete upscale
urban community located in the heart of new Dubai overlooking the
beautiful Arabian Gulf. It features 36 residential towers, four hotel
towers, and four beach clubs.

About the Companies

Saks Incorporated currently operates Saks Fifth Avenue, which
consists of 54 Saks Fifth Avenue stores, 48 Saks Off 5th stores, and
saks.com. The Company also operates Club Libby Lu specialty stores.

Founded in 1924 with the opening of its Fifth Avenue, New York
flagship store - which continues today to be the Company's landmark
store - Saks Fifth Avenue has grown to 54 stores throughout the United
States, complemented by licensed stores in Riyadh, Saudi Arabia;
Dubai, U.A.E.; and Mexico City, Mexico. Saks also has announced plans
to open its first licensed store in Shanghai, China. Saks Fifth Avenue
is one of the most recognized luxury retail brands in the world and
has key relationships with the leading fashion houses including
Giorgio Armani, Chanel, Louis Vuitton, Dolce and Gabbana, Salvatore
Ferragamo, Gucci, Donna Karan, John Varvatos, Calvin Klein, Ralph
Lauren, Judith Leiber, Prada, Escada, Carolina Herrera, Oscar de la
Renta, St. John, Yves St. Laurent, TOD'S, Ermenegildo Zegna, and Max
Mara.

A group of well-established businesses in the Middle East, Al Mana
Group, Chalhoub Group, Damas Jewellery, and Kapico Group, formed Style
Avenue Middle East in 2003. Style Avenue Middle East has exclusive
rights to own and operate Saks Fifth Avenue stores in the United Arab
Emirates, Qatar, Kuwait, and Bahrain under the license agreement with
Saks Fifth Avenue.

-- Al Mana Retail W.W.L, a group of diversified companies with
interests in automotive, retail, investments, and real estate.

-- The Chalhoub Group, which is synonymous with luxury brands
throughout the Middle East. This group owns and operates
free-standing boutiques including Louis Vuitton, Chanel,
Christian Lacroix, and Ralph Lauren. They are the largest
distributor and retailer of cosmetics and fragrances in the
Middle East.

-- Damas Jewellery, the largest jeweler in the UAE with over 75
locations.

-- Kapico Group, a partnership of the Al Ghannam and Handa
families of Kuwait, with interests in automotive, engineering
and construction, healthcare, and retail.

Forward-looking Information

The information contained in this press release that addresses
future results or expectations is considered "forward-looking"
information within the definition of the Federal securities laws.
Forward-looking information in this document can be identified through
the use of words such as "may," "will," "intend," "plan," "project,"
"expect," "anticipate," "should," "would," "believe," "estimate,"
"contemplate," "possible," and "point." The forward-looking
information is premised on many factors, some of which are outlined
below. Actual consolidated results might differ materially from
projected forward-looking information if there are any material
changes in management's assumptions.

The forward-looking information and statements are or may be based
on a series of projections and estimates and involve risks and
uncertainties. These risks and uncertainties include such factors as:
the level of consumer spending for apparel and other merchandise
carried by the Company and its ability to respond quickly to consumer
trends; adequate and stable sources of merchandise; the competitive
pricing environment within the retail sector; the effectiveness of
planned advertising, marketing, and promotional campaigns; favorable
customer response to relationship marketing efforts of proprietary
credit card loyalty programs; appropriate inventory management;
effective expense control; successful operation of the Company's
proprietary credit card strategic alliance with HSBC Bank Nevada,
N.A.; geo-political risks; changes in interest rates; and fluctuations
in foreign currency and exchange rates. For additional information
regarding these and other risk factors, please refer to the Company's
filings with the SEC, including its Annual Report on Form 10-K for the
fiscal year ended February 2, 2008, its Quarterly Reports on Form
10-Q, and its Current Reports on Form 8-K, which may be accessed via
EDGAR through the Internet at www.sec.gov.

Management undertakes no obligation to correct or update any
forward-looking statements, whether as a result of new information,
future events, or otherwise. Persons are advised, however, to consult
any further disclosures management makes on related subjects in its
reports filed with the SEC and in its press releases.

Saks Incorporated
Julia Bentley, 865-981-6243
or
David Pilnick, 212-940-5080
www.saksincorporated.com

Copyright Business Wire 2008