Sterling Jewelers And Zale Corporation Announce Settlement

Sterling Jewelers Inc. and Zale Corporation (NYSE: ZLC) announced today that with respect to the lawsuit pending in The United States District Court for the Northern District of Ohio, styled Sterling Jewelers Inc. v. Zale Corp., Civ. No. 5:12-cv-02823, the parties have agreed to a negotiated resolution of the case which will go into full force and effect as of March 1, 2014. The details regarding the settlement are confidential and will not be disclosed.

About Sterling Jewelers Inc.

Akron, Ohio-based Sterling Jewelers Inc. operates over 1,400 stores in all 50 states primarily under the name brands of Kay Jewelers and Jared The Galleria of Jewelry. Sterling is the US division of Bermuda-domiciled Signet Jewelers Limited (NYSE: SIG), the largest specialty retail jeweler in the US and the UK. Signet’s UK division operates approximately 500 stores primarily under the name brands of H.Samuel and Ernest Jones. Further information about Signet is available at www.signetjewelers.com. See also www.kay.com, www.jared.com, www.hsamuel.co.uk and www.ernestjones.co.uk.

About Zale Corporation

Zale Corporation is a leading specialty retailer of diamond and other jewelry products in North America, operating approximately 1,695 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 webstores 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.

Copyright Business Wire 2010

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