2009-05-27 13:06:07 -

Zale Corporation (NYSE: ZLC), a leading specialty retailer of fine jewelry in North America, today announced that Matthew W. Appel has been named Executive Vice President of the company, effective May 27, 2009.

Mr. Appel will become Chief Financial Officer on June 15, 2009, after the company files its Form 10-Q. In his role as Zale’s new CFO, he will report to Neal Goldberg, Chief Executive Officer.

“Matt’s broad range of experience in growth and turnaround companies makes him a great complement to our team,” said Mr. Goldberg. “He is an experienced operator who has strong leadership and technical skills combined with deep expertise in strategic financial management. Matt will play an integral role as we capitalize on the opportunities ahead,

as well as intensify the financial rigor we have brought to the business. I’d like to thank Cindy Gordon for her service as Interim CFO and her continuing service as Senior Vice President, Controller. She remains an important asset to the future success of our company.”


Mr. Appel, age 53, joins Zale from ExlService Holdings, Inc. (Nasdaq.

EXLS), where he served as Vice President and CFO since 2007. Prior to ExlService Holdings, Mr. Appel worked for Electronic Data Systems (EDS), where he joined in 2003 as Vice President, Finance and Administration BPO. At EDS, he subsequently served as Vice President, BPO Product Management, with responsibility for strategy and business plan development, investment prioritization, product lifecycle management and new product development.

Mr. Appel began his career in 1977 with Arthur Andersen, where he spent seven years in their audit practice. He later joined Tenneco Inc. where he served for nine years in various finance leadership roles at their Newport News Shipbuilding subsidiary and for five years at their corporate office including establishment and operation of their shared services business unit. Mr. Appel is a Certified Public Accountant and Certified Management Accountant. He received a B.A. from Rutgers College and an M.B.A. from Rutgers University Graduate School of Business.

About Zale Corporation


Zale Corporation is a leading specialty retailer of diamonds and other jewelry products in North America, operating more than 2,050 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 online at www.zales.com : and www.gordonsjewelers.com : .

Additional information on Zale Corporation and its brands is available at www.zalecorp.com : .



Zale CorporationDavid Sternblitz, 972-580-5047Vice President
and TreasurerorRhett Butler, 972-580-5047Manager of
Investor Relations