Foot Locker (FL)

FOOT LOCKER, INC. DELIVERS ACQUISITION PROPOSAL TO GENESCO INC.
• OFFERS TO PAY $46 PER SHARE IN CASH

NEW YORK, NY, April 20, 2007 – Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic retailer, today announced that it had made an acquisition proposal to purchase all of the outstanding shares of Genesco Inc. (NYSE: GCO) for $46 per share in cash, subject to certain terms and conditions. The proposal came in a letter that Matthew D. Serra, Foot Locker, Inc.’s Chairman and CEO, sent on April 4, 2007 to Hal N. Pennington, Chairman, President and Chief Executive Officer of Genesco Inc.

On April 19, 2007, Mr. Serra sent a follow-up letter to Mr. Pennington to reiterate Foot Locker, Inc.’s interest in acquiring Genesco, Inc. and his belief that the proposal represents significant value to Genesco shareholders. The proposed purchase price of $46 per share in cash represents a total consideration of approximately $1.2 billion for all of the equity of Genesco. This proposal provides to Genesco Inc.’s shareholders a 26 percent premium to the average share price during the one year period preceding the April 4, 2007 letter.

The full text of both letters is attached.

Foot Locker, Inc. is a specialty athletic retailer that operates approximately 4,000 stores in 20 countries in North America, Europe and Australia. Through its Foot Locker, Footaction, Lady Foot Locker, Kids Foot Locker and Champs Sports retail stores, as well as its direct-to-customer channel Footlocker.com/Eastbay, the Company is the leading provider of athletic footwear and apparel.