Building upon its successful international ventures in Saudi Arabia and the United Arab Emirates, retailer Saks Incorporated (NYSE: SKS) (the "Company") today announced the formation of a strategic relationship to develop potential Saks Fifth Avenue stores in the People's Republic of China ("PRC") and Macau.

The Company has entered into a licensing and consulting agreement with Roosevelt China Investments Corp. ("RCIC") to locate and develop appropriate sites for potential Saks Fifth Avenue stores within PRC and Macau. RCIC will own and operate the stores under the license agreement with Saks Fifth Avenue.

The first Saks Fifth Avenue store tentatively is expected to open in 2008 in a heritage building in the historic Bund district of downtown Shanghai, PRC. Positioned along the beautiful Huangpu River, the Bund district is teeming with heritage buildings, and the entire area is currently undergoing extensive restoration and redevelopment.Shanghai, with a population of nearly 18 million people, is China's largest city.

Stephen I. Sadove, Chief Executive Officer of Saks Incorporated, commented, "Saks Fifth Avenue is one of the most recognized luxury retail brands in the world, and the only American department store retailer with a presence outside of the United States. In an effort to capitalize on the power of the Saks Fifth Avenue brand and to extend further its reach on a global basis, the Company opened its first international licensed store in Riyadh, Saudi Arabia in 2001 followed by its second international location in Dubai in 2004. China, with its explosive growth underway, is destined to become the commercial and tourist hub of Asia and is the logical location for our third international licensed Saks Fifth Avenue store. We look forward to working with RCIC to bring a distinctive world-class emporium of luxury brands and experiences to Shanghai and to meeting the fashion lifestyle needs of this very discerning, sophisticated, and important marketplace. Based on the success of the Saks Fifth Avenue store in Shanghai, we will consider future expansion into other cities in the region."

Sadove continued, "While our primary focus remains on our domestic stores, the opening of carefully chosen licensed locations abroad can extend the reach of our brand and generate an incremental income stream for Saks."

The Saks Fifth Avenue store is expected to be approximately 300,000 square feet and cover four floors. The location will be congruent with the Saks Fifth Avenue stores in the United States in both product and service, while being sensitive to local preferences and customs. The Shanghai store will include distinctive offerings from established and emerging Asian, European, and American designers and will present an enviable collection of fine designer apparel, shoes, jewelry, accessories, handbags, fragrances and cosmetics, intimate apparel, bridal, and select gift items under one roof. Saks Fifth Avenue will offer an extraordinary program of personalized customer service and expects to offer numerous in-store amenities such as luxury fitting rooms, specialty cafes, and a spa. The unique store will also offer an abundant calendar of special events such as fashion shows and personal appearances by designers.

Sadove concluded, "We are delighted to work with Roosevelt China Investments on these potential licensed store locations in China. The Roosevelt-affiliated organizations are very highly regarded, and we could not ask for a better business partner to assure our future success in China."

Tweed Roosevelt, Chairman of Roosevelt China Investments Corp., said, "We are delighted to be working with Saks Incorporated on this important project which is very exciting and beneficial for all involved. For Saks it opens the market for the rapidly expanding high-end customer base in East Asia currently untapped by premier U.S. retailers. For China, it is consistent with its announced objective to increase consumer spending. For Shanghai, it encourages tourist traffic from all over China and the rest of the Pacific Rim countries, as well as providing a flagship attraction during the 2008 Beijing Olympics. For the United States, it creates another business in China, which will generate the return of dollars to the United States, and for Roosevelt China Investments Corp. it helps fulfill its commitment to continue encouraging mutually beneficial relationships between China and the United States."

Tin Tse, President of Roosevelt China Investments Corp., said, "The extraordinary growth of the economy in China created many new customers for high end merchandising. The time is ripe for a first class American retailer to establish a presence in China to meet this rapidly growing demand. Saks is the ideal store to meet this need, and we are honored to partner with this premier American retailer."

Jiang Yaxin, District Governor of People's Government of Huangpu District said, "It is very farsighted for Roosevelt China Investments Corp. to make an investment in the Bund Origin commercial project.With the sustained and rapid economic development, the demand potential for high-end commodities is further expanding in China. In particular, Shanghai, as an emerging international city, is attracting more and more famous brands from all over the world. I sincerely hope that Roosevelt Bund Origin commercial project will become an epoch-making one in the development of commercial industry in Shanghai and a successful model of Sino-US cooperation on the basis of mutual benefit."

About the Companies

Saks Incorporated currently operates Saks Fifth Avenue Enterprises (SFAE), which consists of 55 Saks Fifth Avenue stores, 50 Saks Off 5th stores, and saks.com. The Company also operates 38 Parisian stores and 57 Club Libby Lu specialty stores. In January 2006, the Company announced it is exploring strategic alternatives for Parisian.

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 55 stores throughout the United States, complemented by two licensed stores in the Middle East. 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, 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.

Roosevelt China Investments Corp. (RCIC) is a privately owned international investment company dedicated to conducting business in China. RCIC was established with the support of the Roosevelt Trust, one of the investment vehicles of the Roosevelt family. Tweed Roosevelt, great-grandson of President Theodore Roosevelt and cousin of President Franklin Roosevelt, is Chairman of RCIC. In addition, Tweed Roosevelt is also the Principal Trustee of The Roosevelt Trust and also is a Managing Director of The Roosevelt Investment Group, Inc., a registered investment advisor, which currently manages approximately $1 billion in client assets. Tin Tse, President of RCIC, has had extensive experience in China and is principally responsible for this project.

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 department and specialty store industries as well as other retail channels; 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; the outcome of the formal investigation by the Securities and Exchange Commission and the inquiry the Company understands has been commenced by the Office of the United States Attorney for the Southern District of New York into the matters that were the subject of the investigations conducted during 2004 and 2005 by the Audit Committee of the Company's Board of Directors and any related matters that may be under investigation or the subject of inquiry; the ultimate amount of reimbursement to vendors of improperly collected markdown allowances; the ultimate impact of improper timing of recording of inventory markdowns; the ultimate impact of incorrect timing of recording of vendor markdown allowances; the outcome of the shareholder litigation that has been filed relating to the matters that were the subject of the Audit Committee's initial investigation; the effects of the delay in the filing with the SEC of the Company's Form 10-K for the fiscal year ended January 29, 2005 and its Quarterly Reports on Form 10-Q for the fiscal quarters ended April 30, 2005 and July 30, 2005; the ability of The Bon-Ton Stores, Inc. to obtain financing to complete its purchase of the Company's NDSG business; and the success of the Company's exploration of strategic alternatives for its Parisian business. For additional information regarding these and other risk factors, please refer to Exhibit 99.1 to the Company's Form 10-K for the fiscal year ended January 29, 2005 filed with the SEC, 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.

在沙特阿拉伯和阿联酋成功的国际投资基础上，零售商Saks Incorporated （纽约证券交易所：SKS）（以下简称“公司”）今天宣布建立一项战略关系，以在中华人民共和国（“PRC”）和澳门开发潜在的Saks Fifth Avenue百货公司。

公司已经与美国罗斯福中国投资基金（Roosevelt China Investments Corp.），以下简称“RCIC”）签署了许可和咨询协议，并以此来进行未来的Saks Fifth Avenue 百货店在中国大陆和澳门寻址、开发。根据Saks Fifth Avenue的授权协议，RCIC将拥有并经营这些商店。

首家试验性质的Saks Fifth Avenue商店将于2008年在中国上海市中心历史悠久的外滩街区内一栋传统建筑中开业。外滩历史街区位于风景优美的黄浦江畔，区内遍布传统建筑，目前整个区域正在进行修建及重新开发工作。上海人口接近1800万，是中国最大的城市。

Saks Incorporated首席执行官Stephen I. Sadove对此评价说：“Saks Fifth Avenue是全球最受认可的奢侈品零售品牌之一，也是美国唯一一家在境外拥有店面的百货公司。为了利用Saks Fifth Avenue的品牌影响力，同时进一步扩展其全球覆盖面，公司于2001年在沙特阿拉伯利雅得开设了第一家国际许可店，并随后于2004年在迪拜开设了第二家商店。中国正在迅速增长，并将成为亚洲地区的商业和旅游中心，这里是我们开设第三家国际许可Saks Fifth Avenue商店的理想位置。我们期待着与RCIC一道，将独一无二的世界级奢侈品牌购买中心和世界级的服务体验带入上海，以满足在这一注重精致生活、品位的重要市场方面人们时尚生活方式的需要。在上海Saks Fifth Avenue百货商店的成功基础上，我们将考虑进入该区域内的其他城市。”

Sadove补充说：“我们的主要注意力还将维持在美国国内市场，但是经过精心挑选的国外授权商店的开设将扩大我们品牌知名度，同时为Saks获得更多收入。”

Saks Fifth Avenue百货店预计将占据4层楼的空间，约30万平方英尺。该商店将在产品、服务方面与在美国国内的Saks Fifth Avenue百货店保持一致，同时还将按照本地偏好和风俗进行适当调整。位于上海的这家百货店将出售由著名的以及新生代的亚洲、欧洲以及美国设计师设计的特别商品，并将在一楼展示令人羡慕的服饰、鞋、珠宝、饰品、手提包、香水、化妆品、内衣、婚礼用品以及精美礼品等。Saks Fifth Avenue还将提供特别的人性化客户服务，计划将在店内提供多种休闲设施，包括健身房、高档咖啡厅以及温泉吧。商店还将安排大量的特别活动，例如时装展览以及邀请时装设计者参与活动等。

Sadove总结说：“我们很高兴能够与美国罗斯福中国投资基金一道为中国这些潜在许可商店而努力工作。罗斯福集团下属机构拥有很高的信誉，是保障我们在中国未来成功的不二人选。”

美国罗斯福中国投资基金公司的Tweed Roosevelt表示：“我们很高兴能够与Saks Incorporated一同在这一激动人心、且双方受益的重要项目上合作。对于Saks来说，这一项目打开了东亚地区正迅速发展着的高端客户市场，而这一市场目前还未有美国顶尖零售商涉足。对于中国来说，该项目与其宣传的扩大消费支出目标相吻合。对于上海来说，这一项目吸引了来自整个中国和环太平洋地区国家的游客，同时为2008北京奥运会提供了一个旗舰式游览热点。对于美国来说，这一项目开创了中国的又一商机，将为美国创造收入。对于罗斯福中国投资基金公司来说，这一项目帮助其实现促进中美两国共同受益关系的目标。”

罗斯福中国投资基金公司总裁Tin Tse表示：“中国高速的经济增长为高端零售商带来了很多新客户。一流美国零售商进入中国，满足快速增长需求的时机已经成熟。Saks是满足这一需求的理想商店，我们很荣幸能与这一美国顶尖零售商合作。”

黄浦区区长姜亚新表示：“罗斯福中国投资基金公司在历史街区进行这一商业项目投资是十分有远见的。随着经济持续增长，中国国内对于高端商品的需求将不断扩大。上海作为新兴的国际化都市，吸引着越来越多的全球著名品牌。我诚挚的希望罗斯福公司历史街区商业项目能够成为上海商业发展的新纪元，同时也成为中美互惠合作的一个成功样板。”

关于公司

Saks Incorporated旗下运营着Saks Fifth Avenue Enterprises (SFAE)，后者包括55家Saks Fifth Avenue百货店以及50家Saks Off 5th商店以及 saks.com 。公司还运营着38家 Parisian商店以及57家 Club Libby Lu特色商店。2006年1月，公司宣布为Parisian寻找战略替代品。

Saks Fifth Avenue成立于1924年，从Fifth Avenue纽约旗舰店的开设（今天这一店面已经成为公司的地标）一直发展到如今已经在美国拥有55家店面，并在中东拥有两家商店。Saks Fifth Avenue是世界上最受认可的奢侈品零售品牌之一，与众多顶尖时装品牌有着良好关系，包括Giorgio Armani、Chanel、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以及Max Mara。

罗斯福中国投资基金公司(RCIC)是一家私营国际投资公司，专注于中国地区的业务。RCIC在罗斯福家族中投资机构之一的Roosevelt Trust的支持下成立。Tweed Roosevelt（总裁Theodore Roosevelt的曾孙以及总裁 Franklin Roosevelt的堂兄）是RCIC主席。此外，Tweed Roosevelt还是The Roosevelt Trust的主要受托人，以及The Roosevelt Investment Group, Inc的执行董事。The Roosevelt Investment Group, Inc是一家注册投资顾问公司，目前管理着大约10亿美元的客户资产。负责该项目的RCIC总裁Tin Tse对中国地区的业务有着丰富经验。

前瞻性信息

本新闻稿中包含的信息对于未来业绩货预期的描述属于联邦证券法律所定义的“前瞻性”信息范畴。

本稿件中的前瞻性信息可以通过一些词汇如：“可能”、“将”、“意向”、“预计”、“计划”、“应当”、“将要”、“相信”、“预期”、“打算”、“可能”以及“显示”来辨别。这些前瞻性信息基于诸多因素的假定，其中部分因素见下文。实际结果可能由于管理层假设的实质性变化而与前瞻性信息的预期大不相同。

这些前瞻性信息和称述可能基于一系列涉及风险和不确定性的预期和假设之上。这些风险和不确定性包括如下因素：消费者对服饰和公司其他销售商品的购买水平以及快速回应消费趋势的能力；商品来源的充足和稳定；百货店、专卖店以及其他零售渠道具有竞争力的价格环境；拟定的广告、营销、促销活动的有效性；客户对于所持有信用卡信用项目的回应情况；适当的存货管理；有效的费用指出控制；公司自有信用卡与HSBC Bank Nevada, N.A战略结盟的成功运营；地缘政治风险；利率的变化；证券交易委员会的正式调查结果，以及公司被美国联邦检察官纽约南部地区办公室就2004年和2005年间由公司董事会审计委员会调查的事项而进行的问询结果，以及其他处于调查中或可能需要调查的相关事项的结果；给予制造商的不恰当减价补贴最终补偿额 ；不恰当的存货减价记录时间所造成的最终影响；不恰当的经销商存货减价记录时间所造成的最终影响；由于审计委员会初始调查而招致的股东诉讼的结果；未能及时向政权交易委员会提交于2005年1月29日结束财年的10-K表格，以及2005年4月30日和7月30日期间的财季季度报告10-Q表格；Bon-Ton Stores, Inc.获取融资以完成其对公司NDSG业务收购；以及公司为其Parisian业务寻找战略替代品的成功与否。有关上述和其他风险因素的更多信息，请参阅公司在于2005年1月29日提交给证券交易委员会的10-K表格中Exhibit 99.1部分，该表格可以通过EDGAR在 www.sec.gov获取。

无论是由于出现新信息，未来事件发生或者其他原因，管理层不承担公开更新或者修改任何前瞻性声明的义务。建议阁下查阅管理层在向证券交易委员会提交的报告以及其他相关新闻稿中进一步披露的事实。

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