Zale Expands U.S. Customer Financing Options

Agreement Signed with Monterey Financial Services, Inc.

DALLAS--()--Zale Corporation (NYSE: ZLC) today announced that it has initiated a program to provide alternative financing options to its U.S. customers. Monterey Financial Services, Inc., a nationally recognized consumer finance company, has agreed to become the first partner in this program. These financing options are immediately available in all Zales, Zales Outlet and Gordon’s retail stores.

Citibank (South Dakota), N.A. (“Citi), remains the company’s primary consumer financing provider in the United States. Zale will offer this program to select customers whose credit applications have been declined by Citi, providing them with an affordable option to finance their merchandise purchases.

“We are pleased to be able to expand our financing options so that even more guests can affordably purchase beautiful jewelry,” said Ken Brumfield, Vice President of Financial Products for Zale Corporation. “These offerings demonstrate our continuing effort to build long-term loyalty and sales for Zale.”

About Zale Corporation

Zale Corporation is a leading specialty retailer of diamonds and other jewelry products in North America, operating approximately 1,830 retail locations throughout the United States, Canada and Puerto Rico, as well as online. Zale Corporation's brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda. Zale also operates online at www.zales.com, www.zalesoutlet.com, www.gordonsjewelers.com, www.peoplesjewellers.com and www.pagoda.com. Additional information on Zale Corporation and its brands is available at www.zalecorp.com.

About Monterrey Financial Services, Inc

Monterrey Financial Services, Inc. is a privately held consumer finance company operating nationally out of Oceanside, California.

Contacts

Zale Corporation
Investor Relations
Roxane Barry, Director of Investor Relations, 972-580-4391

Contacts

Zale Corporation
Investor Relations
Roxane Barry, Director of Investor Relations, 972-580-4391