CONTACT:
Jerry A. Shore
Executive Vice President and Chief Financial Officer
(901) 362-3733, Ext. 2217


FRED'S TO PRESENT AT THE SUNTRUST ROBINSON HUMPHREY 36TH ANNUAL INSTITUTIONAL INVESTOR CONFERENCE

MEMPHIS, Tenn. (April 4, 2007) – Fred's, Inc. (NASDAQ:FRED) today announced that the Company will participate in the SunTrust Robinson Humphrey 36th Annual Institutional Investor Conference, which takes place April 10-11 in Atlanta. The investor presentation by Fred's management is scheduled at 9:50 a.m. ET on Wednesday, April 11, 2007, and will be available to investors via a live audio webcast. A link to the webcast may be found at the investor section of the Company's website, www.fredsinc.com, and the event will be available for replay for a period of 30 days, using that same link.

Fred's Inc. operates 699 discount general merchandise stores, including 24 franchised Fred's stores in the southeastern United States. For more information about the Company, visit Fred's Website at www.fredsinc.com.