July 14, 2006

GLENN CLOSE ANNOUNCED AS
EIF AMBASSADOR TO SAKS FIFTH AVENUE'S
2006 KEY TO THE CURE CAMPAIGN

BENEFIT T-SHIRT DESIGN BY OSCAR DE LA RENTA

A Women's Cancer Initiative in Partnership with the
Entertainment Industry Foundation's Women's Cancer Research Fund

NEW YORK, NY - Saks Fifth Avenue and the Entertainment Industry Foundation (EIF) announced today that award winning actress Glenn Close has been named Entertainment Industry Foundation ambassador for Saks Fifth Avenue's 2006 KEY TO THE CURE initiative. KEY TO THE CURE is a women's cancer initiative founded in partnership with EIF's Women's Cancer Research Fund. The program will also receive ongoing support from Mercedes-Benz USA.

"When I was invited to be the Entertainment Industry Foundation's ambassador for Saks Fifth Avenue's Key to the Cure, I didn't hesitate for one second because I have so many friends who have died from cancer and my grandmother had breast cancer," said Ms. Close. "I think it's tremendously important to raise more awareness about the importance of early detection and support promising scientific research like EIF's Women's Cancer Research Fund."

In the 7 years since the inception of the Saks Fifth Avenue charity shopping event, the company, together with its vendors and partners, has raised more than $20 million. Working to continue this success, the money raised through Saks Fifth Avenue's 2006 KEY TO THE CURE will benefit more than 50 charitable programs dedicated to finding new detection methods, treatments and, hopefully, a cure for women's cancers through EIF's Women's Cancer Research Fund.

"Saks Fifth Avenue is the leading retailer for this kind of national philanthropic outreach and KEY TO THE CURE is one of the most important initiatives that our company has," said Stephen I. Sadove, Chief Executive Officer of Saks Inc. "We are enormously grateful to Ms. Close for honoring us as this year's EIF ambassador to KEY TO THE CURE, as well as to Oscar de la Renta for designing such an elegant T-Shirt."

"Saks feels very strongly that it is our duty to help the communities that we serve and KEY TO THE CURE is a true coming together of our associates, vendors and partners to do great work. Working with Ms. Close and Mr. de la Renta along with our partners Mercedes Benz-USA, and EIF's Women's Cancer Research Fund, we know that this year's shopping event will fund innovative cancer research that will change the future of all women's cancers."

Saks Fifth Avenue's shopping weekend will take place October 12th - 15th at all of its stores nationwide, during which a percentage of sales will benefit EIF's Women's Cancer Research Fund. In support of this program, Ms. Close will appear in a national public service announcement (PSA) wearing a limited edition t-shirt designed by Oscar de la Renta, exclusively to benefit Saks Fifth Avenue's KEY TO THE CURE.

Renowned photographer Timothy White generously donated his time to photograph Ms. Close for the campaign. Known as the master of contemporary portraiture, White has worked with some of the most distinguished faces in Hollywood. The PSA will appear in major fashion and lifestyle magazines in September and October.

Partnering with Saks Fifth Avenue and the Entertainment Industry Foundation's Women's Cancer Research Fund in KEY TO THE CURE is Mercedes-Benz USA, which donated $1 million last year through a special vehicle offered at select Mercedes-Benz dealerships across the country. The company will do the same this year with a signature edition of its E 350 mid-size luxury sedan, which will go on sale this fall.

"To support this year's KEY TO THE CURE campaign we are pleased to offer a special fleet of one of our most popular luxury sedans - the Mercedes-Benz E 350," said Carol Goll, General Manager, Brand Experience Marketing, Mercedes-Benz USA. "The E 350 sets the standard in mid-size luxury sedans through a combination of elegant styling and strong performance with the world's first seven-speed automatic transmission. It is our hope that - by offering this special-edition vehicle, we can support KEY TO THE CURE and help bring women's cancer treatment options and prevention one step closer."

Saks Fifth Avenue initiated its shopping weekend in 1999. Since then, the company has donated over $20 million to women's cancer research and treatment organizations throughout the United States. Organizations benefiting from these funds include: EIF's Women's Cancer Research Fund; The Breast cancer Research Foundation; Los Angeles' Cedars-Sinai; Houston's M.D. Anderson; Boston's Gillette Center; the Susan G. Komen Foundation; and many others.

The Women's Cancer Research Fund, a program of the Entertainment Industry Foundation, was established by Chairs Rita Wilson, Tom Hanks, Kate Capshaw and Steven Spielberg, along with Founders Kelly Chapman Meyer, Anne Douglas, Quinn Ezralow, Marion Laurie and Jamie Tisch. WCRF supports innovative research, education, and outreach directed at the development of more effective approaches to the early diagnosis, treatment and prevention of all women's cancers

As a philanthropic leader of the entertainment industry, the Entertainment Industry Foundation has distributed hundreds of millions of dollars - and provided countless volunteer hours - to support charitable initiatives addressing some of the most critical issues facing society today. For more information, visit www.eifoundation.org.

Saks Fifth Avenue Enterprises (SFAE) is a part of Saks Incorporated and comprises 54 Saks Fifth Avenue stores, 50 Off 5th outlet stores, and www.saks.com, the company's online store.

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Contact:
Saks Fifth Avenue
Lesley Langsam 212-451-3799
Lesley_Langsam@s5a.com

Entertainment Industry Foundation
Judi Ketcik 818-505-2649
jketcik@eifoundation.org