ZALE CORPORATION

ZALE CORPORATION

January 06, 2005 07:01 ET

Zale Corporation Announces Executive Management Changes


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ZALE CORPORATION

NYSE SYMBOL: ZLC

JANUARY 6, 2005 - 07:01 ET

Zale Corporation Announces Executive Management Changes

DALLAS--(CCNMatthews - Jan 6, 2005) -

Zale Corporation (NYSE:ZLC), North America's largest specialty retailer
of fine jewelry, today announced the appointment of Paul G. Leonard to
the post of President, Zales Jewelers. He will report to Mary L. Forte,
President and Chief Executive Officer.

Mr. Leonard joins Zales Jewelers from the Company's Piercing Pagoda
brand, where he held the position of President, Piercing Pagoda since
January 2002. He is largely responsible for implementing new
merchandising and direct sourcing initiatives at Piercing Pagoda that
have fueled the brand's strong performance. Mr. Leonard first joined the
Company in 1994 as President of Corporate Merchandising, and later
became President of Bailey Banks & Biddle Fine Jewelers. He also held
various management positions with the Macy's organization, May Company,
Friedman's Jewelers and Ames Department Stores.

"Paul is a talented merchant with a proven track record that includes
the successful turnaround at Piercing Pagoda," commented Ms. Forte. "Now
his leadership, experience and energy will be used to help us achieve
our goals for Zales Jewelers."

To replace Mr. Leonard, Gil Hollander has been promoted to President of
Piercing Pagoda. In his past role as Vice President of Merchandising for
Piercing Pagoda, Mr. Hollander increased product innovation and improved
merchandise assortments targeted to Piercing Pagoda's fashion-forward
customer. Mr. Hollander brings a vast experience of 19 years in the
jewelry kiosk business to his new position.

Ms. Forte, commenting on Mr. Hollander's promotion, said: "Gil's
significant merchandising skills and understanding of the kiosk business
makes him ideally suited to lead Piercing Pagoda. Our decision to
promote from within for both Zales Jewelers and Piercing Pagoda
demonstrates the strength and talent of our brand management teams."

Zale Corporation is North America's largest specialty retailer of fine
jewelry operating approximately 2,360 retail locations throughout the
United States, Canada and Puerto Rico, as well as online. Zale
Corporation's brands include Zales Jewelers, Zales Fine Jewelry Outlet,
Gordon's Jewelers, Bailey Banks & Biddle Fine Jewelers, Peoples
Jewellers, Mappins Jewellers and Piercing Pagoda. Through its ZLC Direct
organization, Zale also operates online at www.zales.com and
www.baileybanksandbiddle.com. Additional information on Zale Corporation
and its brands is available at www.zalecorp.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Zale Corporation, Dallas
    David H. Sternblitz, 972-580-5047
    Vice President and Treasurer