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May 30, 2007 Dear Representaciones Dicanco S.A. de C.V. On May 22, The Stride Ride Corporation and Payles ShoeSource jointly announced an agreement for Payless to acquire Stride Rite. Once the acquisition is complete, which we expect to occur in our third quarter, Stride Ride will be operated as a separate business under a holding company called Collective Brands, Inc. We are pleased to be part of this new venture. Collective Brands will bring together the well-know and complementary businesses--Stride Ride, Payles ShoeSorce and Collective Licensing International and their unique skills, talents and resources—to create a leading global footwear, accessory and lifestyle brand company. The new organization will be able to serve a broad range of costumers with a portfolio of brands at multiple price points and selling channels – wholesale, retail, e-commerce and licensing. Importantly, each of the three operating companies will retain
its name, identity, and separate operations – and each will
have a distinct mission in terms of its product offering, distribution
channels, and target customers. Stride Ride’s mission will
remain the same - to continue to increase the cachet and prestige
of our brands both in the U.S. and globally. We are exited by the many benefits this new organization will offer Stride Ride and our premier brands, including increased investment and enhanced infrastructure. As part of Collective Brands, Stride Ride will continue to pursue growth opportunities in the high-end market to upscale our portfolio of brands. Maintaining our existing strong relationships with key retailers will be critical to our success. We value our strong partnership and hope you will share our enthusiasm for the exciting opportunities this venture will offer as we move forward together. Best regards.  ©
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