Sterling Shoes Receives Notice of Delisting from the Toronto Stock Exchange

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 27, 2011) - Sterling Shoes Inc. (TSX:SSI) (the "Company") has received notice from the Toronto Stock Exchange (the "TSX") that its common shares and convertible debentures (Symbol: SSI and SSI.DB, respectively) will be delisted at the close of market on November 25, 2011 for failure to meet the continued listing requirements of TSX. The common shares and debentures will remain suspended from trading until that date. The notice follows the initial order obtained by the Company under the Companies' Creditors Arrangement Act on Friday, October 21, 2011.

About Sterling Shoes Inc.

Sterling Shoes is a leading Vancouver-based footwear retailer offering a broad selection of private label and brand name shoes and accessories across five Canadian provinces through its five separate retail banners: Sterling, Joneve, Shoe Warehouse, Freedman Shoes and Gia. Since 1987, Sterling Shoes has grown from five shopping mall locations to 158 stores (as at October 26, 2011) located primarily in high-traffic, high-visibility locations within enclosed shopping malls, on high streets and in strip malls. Sterling Shoes currently employs approximately 1,100 employees.

For further information, please visit us at www.SterlingShoesInc.com.

Additional information about Sterling Shoes Inc. can be found in the disclosure documents filed by Sterling Shoes Inc. with the securities regulatory authorities, available at www.sedar.com.