Collective Brands' Stockholders Pass Proposals at Corporation's Annual Meeting

Stockholders of Collective Brands

today at the Corporation's annual meeting re-elected all three of the Company's nominees to the Collective Brands Board of Directors, approved an advisory vote on executive compensation, approved the one year frequency of holding future advisory votes on executive compensation and ratified the reappointment of Deloitte & Touche LLP as the corporation's independent registered public accountant for fiscal year 2011. Robert F. Moran, President and Chief Executive Officer of PetSmart, Inc., Matthew A. Ouimet, former President and Chief Operating Officer for Corinthian Colleges and Matthew E. Rubel, Chairman, Chief Executive Officer and President of Collective Brands, Inc., were re-elected to the Collective Brands Board of Directors at the meeting. These re-elected board members were each elected to a three-year term to expire at the annual meeting of stockholders in 2014. Other board members whose terms continue are: Daniel Boggan Jr., Retired Senior Vice President of the National Collegiate Athletic Association; Mylle H. Mangum, Chief Executive Officer of IBT Enterprises, LLC; John F. McGovern, Former Executive Vice President and Chief Financial Officer of Georgia-Pacific Corporation; D. Scott Olivet, Executive Chairman of RED Digital Cinema and Chairman of Oakley, Inc.; Michael A. Weiss, President and Chief Executive Officer of Express, Inc.; and Robert C. Wheeler, Retired Chairman and Chief Executive Officer of Hill's Pet Nutrition, Inc. Matthew E. Rubel has been re-elected as Chairman of the Board. Robert C. Wheeler has been re-elected as Lead Director. The Chairman of the Board and Lead Director are elected annually at the Board meeting immediately following the annual meeting of stockholders.