PARSONS TO HONOR SUSAN D. KRONICK OF FEDERATED DEPARTMENT STORES, INC. AT 59TH ANNUAL BENEFIT AND FASHION SHOW

Oscar de la Renta to Present Award; Parsons to Pay Tribute to Tim Gunn, who will Host Runway Show Featuring Top Collections of 2007 Graduates

Monday, April 30, 2007 at Grand Hyatt New York

NEW YORK, March 23, 2007�Parsons The New School for Design will honor Susan D. Kronick, Vice Chairman, Federated Department Stores, Inc. (macy�s|bloomingdale�s) at its 59th Annual Benefit and Fashion Show on Monday, April 30, 2007 at the Grand Hyatt New York. Noted designer Oscar de la Renta, who was the 2006 honoree, will present Kronick with her award. The event, which raises funds for scholarships and academic programs at Parsons, has raised more than $2.2 million to date. At the Benefit, Parsons will pay special tribute to Tim Gunn, who recently stepped down as chair of fashion design after nearly 25 years of service; he will be named honorary chair of fashion design.

Editor�s Note: The media is invited to attend a special daytime presentation of the runway show hosted by Tim Gunn on April 30 at noon at the Grand Hyatt New York. For more information, please contact Deborah Kirschner, 212-229-5667 x4310 or [email protected].

�Just as Parsons has played a critical role in nurturing American designers for over a century, so have Macy�s and Bloomingdale�s,� said New School President Bob Kerrey. �It is only fitting that we honor Sue Kronick, who has not only helped lead Federated to new heights of success as nation's most respected retail institutions, but has placed a strong emphasis on giving back to her community, from serving on the boards of the United Way and YMCA, to establishing mammography centers at Macy�s in Atlanta and Miami.�

In 1906 Parsons established the first fashion design program in the nation, educating a who�s who list of talent from the legendary Adrian, Claire McCardell and Norman Norell; to industry leaders Tom Ford, Marc Jacobs, Donna Karan, Isaac Mizrahi, Narciso Rodriguez and Anna Sui; to rising talents Doo.Ri, Derek Lam, Zac Posen, Proenza Schouler, Behnaz Sarafpour, and Peter Som.

�Federated Department Stores, which operates more than 850 stores throughout the United States, has placed an emphasis on promoting talented American designers, including many Parsons alumni,� said Kronick. �Through this event, we have the opportunity to support the education of a new generation of American fashion talent, not only those whose collections will grace our stores, but also the business minds who will lead our retail industry in the future.�

A highlight of the Benefit is a fashion show featuring the best of the graduating student collections, including the much-anticipated Designer of the Year. �The fashion show represents the best and the brightest of our senior thesis collections, and the ultimate realization of the personal design philosophies cultivated by our students during their studies at Parsons,� said Tim Gunn, who developed the thesis process as chair of the Fashion Design Department.

The runway show has helped launch the careers of some of Parsons� most talented alumni, including 2004 honoree Marc Jacobs; Jack McCollough �02 and Lazaro Hernandez �02 of Proenza Schouler, winner of the CFDA 2003 Perry Ellis Award for Emerging Talent and 2004 CFDA/Vogue Fashion Fund; and Doo-Ri Chung �95, winner of the 2006 CFDA/Vogue Fashion Fund and the CFDA 2006 Swarovski�s Perry Ellis Award for Emerging Talent. In addition to the presentation of the top thesis collections, this year�s show will also include a special menswear collection produced in collaboration with Perry Ellis International, the Italian Trade Commission and Saks Fifth Avenue.

About the Honoree

Susan D. Kronick, Vice Chairman of Federated Department Stores, Inc., is responsible for the company�s eight department store divisions that operate under the Bloomingdale�s and Macy�s nameplates, comprising more than 850 stores in 45 states, Guam and Puerto Rico with annual sales of approximately $27 billion. Her 33-year Federated career has included 20 years at Bloomingdale�s, rising to Senior Executive Vice President of Stores followed by four years as President and Chief Operating Officer of Rich�s/Lazarus/Goldsmith�s (now Macy�s South), based in Atlanta. In 1997 she was named Chairman and CEO of Burdines (now Macy�s Florida), and in 2001 she was named Group President of Federated responsible for the company�s regional nameplates. She played a leadership role in the integration of Federated�s $17 billion May Co. acquisition and was instrumental in the creation of Macy�s as a national brand. Ms. Kronick is a member of the Board of Directors of The Pepsi Bottling Group, and has a diverse community service background having served on the boards of the United Way, YMCA and Exodus Cities and Schools for at-risk children.

Benefit Committee

Lead supporters to date include Benefit Chairs: The Est�e Lauder Companies Inc.; Guess?, Inc.; Sheila C. Johnson, Salamander Hospitality; macy�s|bloomingdale�s; National Retail System; Nine West; Perry Ellis International; Tommy Hilfiger, and VF Corporation; Benefit Co-Chairs: Coach; David B. Ford; Jones Apparel Group, Inc.; William L. McComb, Liz Claiborne Inc.; Peerless Clothing; Phillips-Van Heusen Corporation; Polo Ralph Lauren; Robert C. Skinner, Jr., Kellwood Company; Warnaco Inc.; and Dinner Chairs: A|X Armani Exchange; Accessory Network Group; Fossil; Herbert Mines Associates; Mr. and Mrs. Robert F. Hoerle; Jimlar Corporation; Levi Strauss and Company; Lord & Taylor; Marcraft Apparel Group; Movado Group; Salton, Inc.; Sean John; Cordell Spencer and Elizabeth Canino; Steve Madden; and Diane von Furstenberg.

Benefit Steering Committee: Marvin Traub, President, Marvin Traub Associates, Inc.; Arnold H. Aronson, Managing Director of Retail Strategies, Kurt Salmon Associates; Sally Susman, Executive Vice President, Global Communications, The Est�e Lauder Companies Inc.; Joseph R. Gromek, President and CEO, Warnaco Inc.; Pamela A. Thomas-Graham, Group President, Liz Claiborne Inc.; Paul F. Rosengard, Group President, Premium Brands, Perry Ellis International, Inc.; and Denise V. Seegal, President & CEO, Nautica.

Ticket Information

Tickets are available for $1,500 and above. For information, please visit www.newschool.edu/parsonsbenefit or contact The New School special events office at 212-229-5662 x3570/3568 or [email protected].

About Parsons The New School for Design

Located in the heart of New York City, Parsons The New School for Design is one of the most prestigious and comprehensive degree-granting colleges of art and design in the nation. With the launch of the first fashion design program in America in 1906, Parsons is credited with giving birth to Seventh Avenue, the epicenter of American fashion. Parsons offers a Bachelor of Fine Arts degree, where students confront the challenges of the real world of the fashion industry while cultivating a personal design philosophy that is fully realized in a senior year thesis collection. The school also offers Associate Degrees in Fashion Studies and Fashion Marketing, and has recently announced future plans for a Master of Fine Arts Program in Fashion Design and Society, initiated through an endowed professorship by Parsons alumna Donna Karan. For more information, visit www.parsons.newschool.edu.