The Athlete's Foot has formalized an agreement with Veto S.A. of Athens, Greece to become The Athlete's Foot's master franchisee for Greece. The company projects multiple store openings over the length of the 10-year agreement in an effort to obtain a sizable percentage of market share. The initial store is expected to open in
Athens in April 2004.

The Athlete's Foot expansion into Greece is in keeping with the
company's strategic plan for aggressive franchise growth in Europe and
other
international markets. The company currently operates 126 stores in
Europe.
In 2002, The Athlete's Foot opened 88 franchise stores, 65 of which were
in
international markets. It has plans to add over 100 stores globally
this
year.

“Greece is a marketplace with a strong economy and sports
culture
underscored by its history as the birthplace and future host of the
Olympic
Games,” said Robert J. Corliss, president and CEO of The Athlete's Foot
Group, Inc. “We are very pleased to expand our global presence by
entering
Greece with such a capable and experienced partner, Veto S.A.,” Corliss
adds.

Veto S.A. is one of Greece's premier importers of major
sportswear
brands including Fila, Russell Athletic, Sketchers, Disney kid's shoes,
Ocean Pacific, No Fear, Freddy and Rietveld. The Athlete's Foot's
multi-brand specialty athletic footwear retail concept will complement
Veto
S.A.'s other business interests by providing a dynamic shopping
experience
to both the fashion and technical sports-minded customer.

Sam Albert Fais, president and CEO of Veto S.A. said, “We are
pleased to announce our agreement of collaboration with the world's
leader
in athletic footwear franchising, The Athlete's Foot. With such a
valuable
partner we believe that we will be soon targeting a leading position in
the
sports retail in Greece.”

The Athlete's Foot plans to continue its growth throughout Europe and is
in
search of franchise partners for the countries of Germany, Ireland,
Italy,
Scandinavia, the Benelux countries, Russia, Hungary, Croatia, Slovenia,
Slovakia, Latvia, Lithuania, and Estonia.
In addition to Europe, The Athlete's Foot is heavily pursuing expansion
opportunities throughout the Middle East.