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Dave Penrod                                                  News Release
Chairman, Belk Southern Division
Jacksonville, Fla.

Grand Opening of New Belk at Walterboro Plaza in Walterboro, S.C. Is
             Wednesday, October 11, 2006 At 10 a.m.

       New Store Offers Top Brands, Value, Convenience and Service;
 Opening Events Include “Take A Break from Bills” Scratch-Off Card Promotion
              and Register-to-Win Giveaways Valued at $11,500

       WALTERBORO, S.C., October 3, 2006 -- Belk is placing the finishing touches on its new
fashion department store at Walterboro Plaza in Walterboro, S.C., replacing the store formerly
located in Ivanhoe Shopping Center, in preparation for the store’s grand opening at 10 a.m. on
October 11, 2006.
       Belk’s grand opening celebration will begin with a 9:30 a.m. ribbon-cutting ceremony at
the store’s main entrance. Special guests for the ceremony will include area community
leaders, news media and Belk representatives.
       The new $3.0 million, 48,000-square-foot Belk store features the latest in retail design,
lighting, merchandise presentation and décor. It’s a showcase for name-brand apparel, shoes
and accessories for the whole family; jewelry; cosmetics; and home furnishings. Examples of
major featured fashion apparel brands include Tommy Hilfiger, Liz Claiborne, Rafaella,
Joseph A, Bandolino, Izod, Columbia and many others.
       Additionally, customers will find a wide selection of Belk’s exclusive private brand
apparel, accessories, shoes and home furnishings under the Madison Studio, Kim Rogers,
J. Khaki, Meeting Street, Lyle and Scott, Red Camel, Nursery Rhyme and Home Accents labels.
       "We’re delighted to be opening this beautiful new store to serve Walterboro and the
surrounding community," said Dave Penrod, chair of Belk’s Southern Division based in
Jacksonville, Fla. "Belk has been serving the Walterboro community since 1937, and our goal is
to continue our long-standing tradition of providing customers with the best fashion, value,
quality and service, and remain the department store of choice in this market.”


        Store Manager Angela Evans added, “We have a sparkling new store that offers
outstanding merchandise selection, convenience and customer service in a fun and exciting
shopping environment. Our dedicated team of associates is eager to begin serving customers
and we invite everyone to come out to see the new store and join us in the grand opening

Grand Opening Celebration Events
        The store’s grand opening celebration events feature special savings and values
storewide, gift-with-purchase offers and chances to win valuable prize drawings and Belk
merchandise. The events include a “Take a Break from Bills” scratch-off card promotion and
register-to-win giveaways with prizes valued at a total of $11,500. The Grand Opening Sale
and special events begin when the store opens at 10 a.m. on Wednesday, October 11th. The
first 500 customers to enter the store will receive a small gift and a miniature Belkie Bear.
        During the “Take a Break from Bills” event October 11 – 15, customers can pick up a
scratch-off card at the new store and win money-saving prizes, including $5,000 for car
payments, $3,000 for groceries, Belk Gift Cards ranging in value from $10 to $500 each (total
of $2,660) or 10 percent off discount passes for regular and sale purchases made at the new
store from October 16 – 18 (normal exclusions apply).
        From October 11 – 15, customers can also register to win four $250 Belk shopping
sprees to be awarded in four different merchandise areas: women’s, men’s, children’s and
        Belk charge customers will receive an extra 15 percent off all sale items on Wednesday
and Thursday, October 11 and 12, and customers who apply for a Belk charge account during
the Grand Opening Sale receive a free gift and a 15 percent off discount on their first day's
purchases. Customers who apply for a Belk charge account October 11 – 14, 2006 will receive
a complimentary companion airfare certificate with the purchase of one adult round-trip fare on
one of 13 major U.S. carriers for travel between most major airports within the continental U.S.
(More details and requirements related to this offer are available at the store.)
        Other Grand Opening special events to be held are:
        Preview Shopping Day – Monday, October 9, 10 a.m. – 6 p.m. – get a preview of the
        new store and get a 20 percent off shopping pass for purchases throughout the store
        (limited to 10 percent off in the home department – other normal exclusions apply).

      Bridal Focus Event – Thursday, October 12, 5 p.m. – 8 p.m. – brides-to-be can stop by
       the bridal department to meet the new store’s bridal consultants and receive a free
       flower and slice of wedding cake.

      Diva Day – Saturday, October 14, 11 a.m. – 2 p.m. – the first 50 girls to walk the red
       carpet in the girls’ 4-16 department will receive VIP treatment, including:
          o Prize giveaways
          o Photo souvenir
          o Mini makeovers
          o Free gift with a $25 purchase.
      Charity Day – Friday and Saturday, October 27 – 28 -- Charities and other non-profit
       community organizations from throughout the Walterboro area have been invited to
       participate in and benefit from Belk’s Charity Shopping Day event.
              Each of the participating charities will sell tickets to the event for $5 each. The
      ticket entitles the ticket holder to receive an additional 20 percent off of all regular and
      sale prices at the new Belk except in the home department, where a 10 percent discount
      will be given. All normal merchandise exclusions will apply. All proceeds from the ticket
      sales go to participating charities. Tickets can be purchased at the store starting on
      October 20th.
              Representatives of the participating charities and non-profit groups will be
      present during the event to share information about their organizations.
              “Belk has a long-standing reputation for its community involvement and
      supporting worthy charitable efforts,” said Evans. “Our Charity Shopping Day event is
      just another example of Belk’s commitment to the Walterboro community.”

      “Cosmetic Tailgate Event” – Friday and Saturday, November 17 – 18 – Belk’s
       cosmetic and fragrance vendors will host a free event featuring makeup artists and
       offering makeovers, giveaways, samples and breakfast from 8 to 10 a.m. Customers
       get half a dozen roses free with any $35 cosmetic or fragrance purchase.

Belk National Brands
      Belk of Walterboro Plaza will offer outstanding selections of top national merchandise
   brands, including:

       Ladies sportswear by AGB, Pappagallo, JH Collectibles, Evan Picone, Izod, Bandolino,
       Bill Blass, Tommy Hilfiger, Rafaella and Liz Claiborne
       Special sizes sportswear by Rafaella, Kim Rogers, Alfred Dunner, Sag Harbor, Bill Blass
       and Pappagallo
       Juniors apparel by Mudd Jeans, Z Universe, Union Bay, A Byer, Plugg, Fang,
       Eyeshadow, Tracy Evans and Six Degrees
       Intimate apparel by Lily of France, Champion, Vanity Fair, Bali, Maidenform and Playtex
       Handbags by Nine West, Etienne Aigner, The Sak, Tommy Hilfiger and Liz Claiborne
       Jewelry by Napier and Monet
       Cosmetics by Estée Lauder, Clinique, Fashion Fair and dozens of top fragrances for
       women and men
       Ladies shoes by Liz Claiborne, Clarks and Aerosoles
       Men’s shoes by Rockport, Timberland, Sperry and New Balance
       Men’s sportswear by Bill Blass, Izod, Chaps and Columbia
       Young men’s apparel by Levi and Chaps Denim
       Children’s apparel by Izod, Carter and Oshkosh
       Home merchandise by Wamsutta, Waverly, Pfaltzgraff, Mikasa, Noritake, Lenox,
       Wedgwood, Gorham, Kitchenaid, Black & Decker, Lacrosse, T-Fal, Oneida, Anchor
       Hocking, Crystal Clear, Godinger, Cuisinart, Corning, Calphalon, Farberware and

Belk Private Brands
       Belk of Walterboro Plaza also offers a wide selection of exclusive Belk private brand
merchandise featuring outstanding fashion, quality and design at a great value. Examples of the
Belk brands include:
       Madison Studio ladies sportswear, handbags and shoes
       Kim Rogers jewelry
       Lyle & Scott men’s sportswear
       Red Camel apparel for young men
       Nursery Rhyme and J. Khaki apparel for children, and
       Home Accents home merchandise.

Store Highlights
       The new Belk of Walterboro Plaza a bright, open look, making it easy for shoppers to
see and find the merchandise they want. Wide aisles encircle the floor, leading shoppers into
the store’s center core area and to dozens of individual merchandise departments, each of
which have special décors, merchandise fixtures and floor and wall treatments to create an
exciting and enjoyable shopping environment. Neutral and wood tones are used throughout the
store to provide a backdrop for colorful merchandise presentations and give it a relaxed and
comfortable feel.

Belk Customer Services
       Providing superior customer service is a hallmark of Belk, and this will continue to be a
top priority at the new Belk of Walterboro Plaza. Customers can take care of most of their
shopping needs in one stop at the customer service stations located conveniently throughout
the store. At these stations, store associates can assist with ringing up sales, purchasing and
redeeming Belk Gift Cards, accepting Belk charge payments and handling merchandise returns
and exchanges.
       The new store’s Gift Registry is designed to provide premier registry services to bridal
customers either in the store or online over the Internet at The gift registry
system and online shopping capability greatly simplify gift selection and gift giving for engaged
couples and their friends and family. The Belk Gift Registry includes a wide assortment of bridal
and gift merchandise that can be registered and purchased online through or in local
Belk stores, and shipped directly to the customer. Belk also offers 12-month special financing
for china, crystal, silver and other table-top gift purchases (with purchase of $300 or more).
       Other store services include complimentary gift wrap, free basic alterations and many
others designed to make shopping enjoyable and “hassle-free.”

Belk Credit
       Belk offers its customers the convenience of paying for their purchases on credit using a
variety of charge payment programs, including a 30-day revolving account and special financing
for china, crystal, silver and other table-top gift purchases and fine jewelry.
       Belk’s credit programs are designed to recognize and reward its charge customers. All
Belk cardholders can earn and accumulate reward points for their Belk credit purchases and
receive a $10 Belk Reward Certificate for every 400 points earned (a point is awarded for each


$1 in qualifying Belk card purchases). Belk’s Premier loyalty program offers additional
benefits and services to charge customers whose Belk card purchases total $600 or more in a
calendar year, including unlimited free gift wrapping and free basic alterations (excludes
clearance 50% off or more), special financing, no annual fee and notifications of special savings
and sales events.

About Belk, Inc.
       Charlotte, N.C.-based Belk, Inc. operates 276 Belk stores and 40 Parisian stores in 19
states in the Southeast, Mid-Atlantic and Mid-Western regions of the United States. Founded in
1888 by William Henry Belk in Monroe, N.C., it is the nation's largest privately-owned
department store company. The company is in the third generation of Belk family leadership.
       Belk of Walterboro Plaza in Walterboro is one of ten new stores being opened by Belk in
2006 that will have a combined size of approximately 758,000 square feet of space. Four new
stores opened in April in Branson, Mo., Mt. Juliet and Knoxville, Tenn., and Buford, Ga. Other
new stores scheduled to open on October 11, 2006 are: Ft. Myers, Fla.; Stillwater, Okla.;
Trussville, Ala.; and Wilson and Roanoke Rapids, N.C. In addition, eight Belk store expansions
will be completed this year in: Flowood, Miss. (March 8, 2006); Lady Lake, Fla. (April 5, 2006);
Rogers, Ark. (Sept. 13, 2006); and Jasper, Ala.; Mt. Pleasant, S.C.; Southern Pines and
Sanford, N.C.; and Hartwell, Ga. (Nov. 3, 2006).

       The Walterboro store is part of the Belk Southern Division based in Jacksonville, Fla.

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