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Payless ShoeSource to Webcast Investor Day Conference

TOPEKA, Kan., June 2 /PRNewswire-FirstCall/ -- Payless ShoeSource, Inc. (NYSE: PSS) will be webcasting their Investor Day Event on June 5th, 2006. The agenda for the event includes:

     -- Matt Rubel, Chief Executive Officer   Business & Strategy Overview
         and President
     -- Eran Cohen, Chief Marketing Officer   Market Segments/Target
                                               Customers
     -- Matt Rubel                            On Trend, Targeted
                                               Product/Brand Portfolio
     -- Eran Cohen                            Sales Promotion/Messaging
     -- Steve Gish, SVP Retail Operations     Great Shopping Experience
     -- Darrel Pavelka, SVP Merchandise
         Distribution, Planning and
         Supply Chain                         Efficient Operations
     -- 30 minute break for lunch
     -- Rick Porzig, Chief Financial Officer  Financial Overview
         and Treasurer
     -- Q&A

A real-time webcast of the event will be available beginning at 11:00 a.m. ET through 2:00 p.m. ET, on the Company's website, at http://www.payless.com , and a replay of the event will be available for 90 days.

Payless ShoeSource, Inc. is the largest specialty family footwear retailer in the Western Hemisphere, dedicated to democratizing fashion and design in footwear and accessories and inspiring fun, fashion possibilities for the family at a great value. As of the end of the first quarter 2006, the Company operated a total of 4,602 stores. In addition, customers can buy shoes over the Internet through Payless.com(R), at http://www.payless.com .

SOURCE Payless ShoeSource, Inc.

CONTACT: Ron Cooperman of Payless ShoeSource, Inc., +1-785-295-6026/
/Company News On-Call: http://www.prnewswire.com/comp/136152.html /
/Web site: http://www.paylessinfo.com /
(PSS)