MEMPHIS, Tenn. (December 5, 2007) ñ Fred's, Inc. (NASDAQ: FRED) today announced that the Company will participate in the Wedbush Morgan 8th Annual California Dreamin' Conference, which takes place in Santa Monica, California December 11-12, 2007. The investor presentation by Fred's management is scheduled at 11:15 a.m. Pacific Time on Tuesday, December 11, and will be available to investors via a live 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 90 days, using that same link.

Fred's, Inc. operates 713 discount general merchandise stores mainly in the southeastern United States, including 24 franchised Fred's stores. For more information about the Company, visit Fred's website at www.fredsinc.com.