The New York Stock Exchange announced today that it determined that the common stock of Footstar Inc. – ticker symbol FTS – should be suspended immediately. Application to the Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the Company of the NYSE staff’s decision.

The decision was reached in view of the overall uncertainty surrounding the Company’s previously announced restatement of its results for 1997 through 2002 and the continued delay in the completion of its current financial statement filing requirements.

The NYSE notes that it may make an appraisal of, and determine on an individual basis, the suitability for continued listing of an issue in light of all pertinent facts and circumstances whenever it deems such action appropriate. In addition, the NYSE may, at any time, suspend a security if it believes that continued dealings in or listing of the security on the NYSE are not advisable.