Stein Mart, Inc. Appoints David H. Stovall, Jr. as President & CEO

JACKSONVILLE, Fla., Dec. 2 /PRNewswire-FirstCall/ — The Board of
Directors of Stein Mart, Inc. (Nasdaq: SMRT) has appointed David H. Stovall,
Jr. as president and chief executive officer of the Company. Stovall, 61, has
been a Belk, Inc., executive for more than 20 years, most recently as Chairman
of Belk Central Division in Charlotte, N.C. He will assume his new
responsibilities on December 5, 2008. Stovall succeeds Linda M. Farthing,
longtime Stein Mart board member who has held the president and CEO position
since September 2007, but announced earlier this fall that a search for her
successor had begun.

“David has a solid history of executive management over both store
operations and merchandise, and most recently oversaw the integration of
Belk’s two largest acquisitions,” commented Jay Stein, chairman of the board
of Stein Mart, Inc. “With his leadership, we will build on the initiatives
begun during the past year to help transform Stein Mart into the revitalized
company that our customers and our stockholders are eager to see us become. I
am personally very excited about this hire.”

Stovall joined Belk in 1986 as senior vice president of merchandising and
sales promotion, and went on to lead increasingly larger Belk store divisions
in the ’80s and ’90′s. In 2000, he was named Chairman of the Central Division
of Belk, Inc., in Charlotte. He chaired the Profitt’s/McRae’s integration of
2005-2006, and the Parisian integration of 2006-2008. Prior to joining Belk,
Stovall held positions with Woodward & Lothrop, Bloomingdale’s and Stewart’s
in the Washington, DC/Baltimore, MD area. He holds a bachelor’s of science
degree from Washington & Lee University (where he currently sits on the Board
of Advisors of the Williams School of Commerce, Economics and Politics) and a
master’s in business administration from The Darden School of The University
of Virginia. Stovall is a past chairman of the Charlotte Chamber of Commerce
and has held numerous positions of leadership in the Charlotte community.

About Stein Mart

Stein Mart stores offer the fashion merchandise, service and presentation
of a better department or specialty store, at prices up to 60 percent off
department and specialty store prices, every day. Currently with locations
from California to Massachusetts, Stein Mart’s focused assortment of
merchandise features current season, moderate to better fashion apparel for
women and men, as well as accessories, gifts, linens and shoes.

SMRT-G

Additional information about Stein Mart, Inc. can be found at
www.steinmart.com

SOURCE Stein Mart, Inc.