Bakers Footwear Group Announces Fourth Quarter Fiscal 2007 Net Income of $7.3 Million, Including a $4.8 Million Gain on Early Lease Termination. Stated.

The Company also announced that its 2008 Annual Meeting of Stockholders will be held on Tuesday, June 17, 2008, at 11:00 a.m., at the Marriott Residence Inn, Meeting Room 3, 525 South Jefferson Avenue, St. Louis, Missouri 63103. Conference Call The Company also announced that it will carry on a congress denominate to review its fourth billet and monetary 2007 results on Monday, May 5, 2008 at 9:00 a.m. Eastern Daylight Time.

Investors and analysts concerned in participating in the demand are invited to dial (877) 407-4018, approximately five minutes previous to the protrude of the call. The convention holler will also be web-cast loaded at http://viavid.net/dce.aspx?sid=00004F93.

A replay of this notice will be to hand until May 12, 2008 and can be accessed by dialing (877) 660-6853 and referencing consequence thousand 3055 and entering confirmation count 283199. The web-cast will wait convenient until June 5, 2008 at the same spider's web address. About Bakers Footwear Group, Inc. Bakers Footwear Group, Inc. is a national, mall-based, specialty retailer of distinct footwear and accessories for brood women.

The Company's distribute includes particular earmark and country-wide trade mark dress, easygoing and pleasure shoes, boots, sandals and accessories. The Company currently operates over 240 stores nationwide under its Bakers and Wild Pair formats. Bakers' stores focal point on women between the ages of 16 and 35.

Wild Pair stores put on the market fashion-forward footwear to both women and men between the ages of 17 and 29. THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS (WITHIN THE MEANING OF SECTION 27(A) OF THE SECURITIES ACT OF 1933 AND SECTION 21(E) OF THE SECURITIES EXCHANGE ACT OF 1934). BAKERS FOOTWEAR HAS NO DUTY TO UPDATE SUCH STATEMENTS. ACTUAL FUTURE EVENTS AND CIRCUMSTANCES COULD DIFFER MATERIALLY FROM THOSE SET FORTH IN THIS STATEMENT DUE TO VARIOUS FACTORS.

FACTORS THAT COULD CAUSE THESE CONDITIONS NOT TO BE SATISFIED INCLUDE MATERIAL DECLINES IN SALES TRENDS AND LIQUIDITY, INABILITY TO SATISFY DEBT COVENANTS, MATERIAL CHANGES IN CAPITAL MARKET CONDITIONS OR IN BAKERS FOOTWEAR'S BUSINESS, PROSPECTS, RESULTS OF OPERATIONS OR FINANCIAL CONDITION AND OTHER RISKS AND UNCERTAINTIES, INCLUDING THOSE DETAILED IN BAKERS FOOTWEAR'S MOST RECENT ANNUAL REPORT ON FORM 10-K INCLUDING THOSE DISCUSSED IN "RISK FACTORS," IN "MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND RESULTS OF OPERATIONS" AND IN NOTE 2 TO THE FINANCIAL STATEMENTS, AND IN BAKERS FOOTWEAR'S OTHER FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. Bakers Footwear Group, Inc. Thirteen Fourteen Fifty-two Fifty-three Weeks Ended Weeks Ended Weeks Ended Weeks Ended February 2, February 3, February 2, February 3, Income Statement Data 2008 2007 2008 2007 ---------------------------------------------------------------------- (in thousands, exclude per partition data) Unaudited Unaudited Unaudited Unaudited.

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