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Zale Names Thomas A. Haubenstricker as Chief Financial Officer

DALLAS, Oct 12, 2011 (BUSINESS WIRE) -- Zale Corporation (NYSE: ZLC) today announced that Thomas A. Haubenstricker has been named Senior Vice President, Chief Financial Officer of the Company, effective October 17, 2011. In his role as Zale's new CFO, he will report to Matt Appel, Chief Administrative Officer.

"We are very pleased to welcome Tom to the Zale team," said Matt Appel. "Tom's broad range of finance, accounting and strategy leadership experience, along with his strong operational focus, will be extremely valuable as we intensify our efforts to return the Company to profitability. Having worked with Tom at EDS, I am confident that he will have immediate impact on our business."

"Tom is the most recent example of the talented, experienced senior executives we have added to the business," added Theo Killion, Chief Executive Officer. "Tom's financial expertise and recent turnaround experience should prove invaluable as we continue to execute our multi-year strategy."

Mr. Haubenstricker, age 49, joins Zale from Turnberry Advisors where he served as a Managing Director since January 2010. Prior to that, Mr. Haubenstricker spent 24 years at Electronic Data Systems (EDS, later acquired by Hewlett-Packard) in various finance and strategy leadership roles including Co-Chief Financial Officer, Vice President and Chief Financial Officer, EMEA Region, and Vice President, Finance for the combined Hewlett-Packard and EDS Business Services Group. During his career, Tom has led business performance improvement programs focused on revenue growth, margin expansion and free cash flow generation. Mr. Haubenstricker holds a B.B.A. degree in Accounting from Central Michigan University and is a Certified Management Accountant.

About Zale Corporation

Zale Corporation is a leading specialty retailer of diamonds and other jewelry products in North America, operating approximately 1,830 retail locations throughout the United States, Canada and Puerto Rico, as well as online. Zale Corporation's brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda. Zale also operates online at http://www.zales.com, http://www.zalesoutlet.com, http://www.gordonsjewelers.com, http://www.peoplesjewellers.com and http://www.pagoda.com. Additional information on Zale Corporation and its brands is available at http://www.zalecorp.com.

SOURCE: Zale Corporation

Zale Corporation
Roxane Barry, 972-580-4391
Director of Investor Relations

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Zale Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.