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CONTACT: FRED'S TO PRESENT AT THE LEHMAN BROTHERS 10TH ANNUAL RETAIL CONFERENCE MEMPHIS, Tenn. (April 25, 2007) – Fred's, Inc. (NASDAQ:FRED) today announced that the Company will participate in the Lehman Brothers 10th Annual Retail Conference, which takes place May 1-2 at the St. Regis Hotel in New York City. The investor presentation by Fred's management is scheduled at 2:30 p.m. ET on Tuesday, May 1, 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 698 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.
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