Bakers Footwear Regains Compliance with Nasdaq Continued Listing Requirement

  
    
  
  
    
      Bakers Footwear Group, Inc. (Nasdaq: BKRS), a leading specialty 
      retailer of moderately priced fashion footwear for young women, 
      announced today that the Company has received a notification letter from 
      The Nasdaq Stock Market (“Nasdaq”), 
      informing the Company that it has regained compliance with a requirement 
      for continued listing on The Nasdaq Global Market.
    
    
      As previously disclosed, on June 9, 2008, Bakers received a letter from 
      Nasdaq informing Bakers that for the previous 30 days it had not 
      maintained the required minimum market value of publicly held shares of 
      $5,000,000 or more and that Bakers had 90 days to regain compliance. 
      Nasdaq has now determined that the Company’s 
      minimum market value of publicly held shares has been $5,000,000 or 
      greater for at least ten consecutive trading days. Accordingly, Nasdaq 
      informed Bakers that it has regained compliance with the Marketplace 
      Rule 4450(a)(2) and this matter is now closed. Nasdaq defines “publicly 
      held shares” as all shares outstanding less 
      any shares held by the Company’s officers, 
      directors, and beneficial owners of 10% or more of the Company’s 
      shares.
    
    
      The Company’s common stock will continue to be 
      traded on the Nasdaq Global Market.
    
    
      About Bakers Footwear Group, Inc.
    
    
      Bakers Footwear Group, Inc. is a national, mall-based, specialty 
      retailer of distinctive footwear and accessories for young women. The 
      Company’s merchandise includes private label 
      and national brand dress, casual and sport shoes, boots, sandals and 
      accessories. The Company currently operates over 240 stores nationwide. 
      Bakers’ stores focus on women between the 
      ages of 16 and 35. Wild Pair stores offer 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 
      INABILITY TO SATISFY DEBT COVENANTS, MATERIAL DECLINES IN SALES TRENDS 
      AND LIQUIDITY, MATERIAL CHANGES IN CAPITAL MARKET CONDITIONS OR IN 
      BAKERS FOOTWEAR’S BUSINESS, PROSPECTS, 
      RESULTS OF OPERATIONS OR FINANCIAL CONDITION, INABILITY TO COMPLY WITH 
      NASDAQ LISTING REQUIREMENTS AND OTHER RISKS AND UNCERTAINTIES, INCLUDING 
      THOSE DETAILED IN BAKERS FOOTWEAR’S MOST 
      RECENT ANNUAL REPORT ON FORM 10-K AND OUR MOST RECENT QUARTERLY REPORT 
      ON FORM 10-Q, 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 IN THESE REPORTS, AND IN 
      BAKERS FOOTWEAR’S OTHER FILINGS WITH THE 
      SECURITIES AND EXCHANGE COMMISSION.