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CONTACT: FRED'S ANNOUNCES FIRST QUARTER CONFERENCE CALL WEBCAST MEMPHIS, Tenn. (May 17, 2007) – Fred's, Inc. (NASDAQ:FRED) today announced that it will provide an online Web simulcast of its first quarter earnings conference call on Thursday, May 31, 2007. The Company's results for the first quarter ended May 5, 2007, will be released earlier that morning. The live broadcast of Fred's conference call will begin at 10:00 a.m. Eastern Time on May 31, 2007. An online replay will be available approximately two hours following the conclusion of the live broadcast and will continue through June 30, 2007. A link to these events can be found at www.fredsinc.com. Fred's Inc. operates 701 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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