Saks Incorporated Names Charles Tharp EVP of Human Resources.

BIRMINGHAM, Ala. -- Retailer Saks Incorporated (NYSE: SKS) ("Saks" or the "Company") today announced that Charles G. Tharp has been named Executive Vice President of Human Resources for Saks Incorporated. Tharp will report to Steve Sadove, Chief Executive Officer of the Company, and will be based in New York City.

In this capacity, Tharp will oversee human resources functions for the entire company, including direct responsibility for the human resources functions at SFAE. Paul Shore will continue in the role of Senior Vice President of Human Resources, reporting to Tharp. Shore will continue to be based in Jackson, Mississippi.

Tharp was most recently a Professor of Human Resources in the School of Management and Labor Relations at Rutgers University and Co-Director of the Executive Master in Human Resources Leadership program there. He has over 24 years of corporate experience, including key human resource positions with General Electric, PepsiCo, Pillsbury, CIGNA and Bristol-Myers Squibb, where he served as the Senior Vice President of Human Resources. Tharp also served as an executive compensation consultant for the global consulting firm of Towers Perrin. He was elected a Fellow of the National Academy of Human Resources and serves on the boards of several human resources professional organizations. Tharp received his undergraduate degree in Business Administration and Economics from Hope College, earned an M.A. in Economics from Wayne State University, and holds a Ph.D. in Labor and Industrial Relations from Michigan State University.

Sadove noted, "I am so pleased that Charlie Tharp has agreed to join the leadership team of Saks Incorporated. Charlie is a nationally respected Human Resources executive who has a proven track record of success and broad expertise across a range of industries. I have relied on Charlie's human resources counsel over the years - first at Bristol-Myers Squibb and then in a consulting capacity at Saks. He will be a great addition to our organization."

Tharp added, "I am excited about working with Steve, Paul, and the entire leadership team to help this great company grow and to realize the full potential of the Saks brand."

Saks Incorporated 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 currently operates its Saks Department Store Group (SDSG) with 40 Parisian stores; 142 Younkers, Herberger's, Carson Pirie Scott, Bergner's, and Boston Store stores (collectively known as the Northern Department Store Group or "NDSG"); and 58 Club Libby Lu specialty stores. On October 31, 2005, the Company announced it had reached an agreement to sell NDSG to The Bon-Ton Stores, Inc. for $1.185 billion. The transaction is expected to close early in the first fiscal quarter of 2006.