Fred's to Participate in the Stephens Spring Investment Conference

Fred's, Inc. (NASDAQ: FRED) today announced that the Company will participate in the Stephens Spring Investment Conference, which takes place in New York City on June 7-8, 2016. Management's remarks, followed by a question and answer session, are scheduled to begin at 11:00 a.m. Eastern Time on Tuesday, June 7, and will be available to investors via a live webcast. A link to the webcast may be found at the investor section of the Company's website, www.fredsinc.com, and the event will be available for replay for a period of 90 days, using that same link.

Fred's, Inc. and subsidiaries operate 660 discount general merchandise stores and three specialty pharmacy-only locations in 15 states in the southeastern United States. Included in the store count are 18 franchised locations. Also, there are 373 full service pharmacy departments located within Fred's stores, including four franchised locations. For more information about the Company, visit Fred's website at www.fredsinc.com.

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Fred's, Inc.Rick Hans, 901-362-3733, Ext. 2232Executive Vice President and Chief Financial Officer