NEW YORK--(BUSINESS WIRE)--Nov. 12, 2004--Saks Fifth Avenue Enterprises ("SFAE"), a business segment of retailer Saks Incorporated (NYSE: SKS) ("Saks" or the "Company"), has named Andrew Jennings President and Chief Operating Officer of Saks Fifth Avenue and named Ron Frasch Vice Chairman and Chief Merchant of Saks Fifth Avenue.

Andrew Jennings joined Saks Fifth Avenue in February 2004. In his expanded role of President and COO, he will have overall responsibility for management of merchandising, store operations, marketing, and store planning and design for Saks Fifth Avenue, as well as oversight of Saks Direct. Jennings will report to Fred Wilson, Chairman and Chief Executive Officer of SFAE.

Prior to joining Saks Fifth Avenue, Jennings held the post of President and Managing Director of Holt Renfrew Specialty Store Group, Canada's definitive luxury specialty store.

Ron Frasch joined Saks Incorporated in January 2004 to concentrate on the Company's international opportunities and private brand development. In his new role of Vice Chairman and Chief Merchant of Saks Fifth Avenue, Frasch will be responsible for Saks Fifth Avenue's merchandising and planning divisions, reporting to Jennings.

Prior to joining the Company, Frasch was Chairman and Chief Executive Officer of Neiman Marcus Group's Bergdorf Goodman.

Wilson noted, "Both Andrew and Ron are exceptionally talented, and I am confident they will continue to lead Saks Fifth Avenue in a manner that capitalizes on the enormous growth potential inherent in this business."

Both Jennings and Frasch are members of the five-person Senior Executive Committee of SFAE, chaired by Wilson. Manny Sousa, Executive Vice President of Human Resources of SFAE, and Donald Watros, Executive Vice President and Chief Administrative Officer of SFAE, are the other members of the Committee.

Saks Incorporated operates Saks Fifth Avenue Enterprises (SFAE) which currently consists of 64 Saks Fifth Avenue stores, 53 Off 5th stores, and saks.com. The Company also operates its Saks Department Store Group (SDSG) with 241 department stores under the names of Parisian, Proffitt's, McRae's, Younkers, Herberger's, Carson Pirie Scott, Bergner's, and Boston Store and 37 Club Libby Lu specialty stores.

    CONTACT: Saks Incorporated
             Julia Bentley, 865-981-6243
             www.saksincorporated.com

    SOURCE: Saks Incorporated