Attached files

EXHIBIT 99.1

CPI Corp.
news for immediate release                     FOR RELEASE October  18, 2011



FOR FURTHER INFORMATION CONTACT:

        NAME         Jane Nelson                    FROM        CPI Corp.
        ADDRESS      1706 Washington Avenue         CITY        St. Louis
        STATE, ZIP   Missouri, 63103                TELEPHONE   (314) 231-1575



              CPI CORP. RECEIVES NOTICE REGARDING NYSE LISTING CRITERIA

ST. LOUIS, October 18, 2011 - CPI Corp. (NYSE: CPY) announced that it received
notice from the New York Stock Exchange ("NYSE") that, due to its average
market capitalization falling below $50 million over a consecutive 30 trading
day period, the Company is currently out of compliance with the NYSE's listing
standards.

Pursuant to applicable procedures, the Company has 45 days from October 12,
2011, the NYSE notice date, to submit a plan to restore compliance within 18
months.  The Company intends to submit its plan within the required time
frame. During this period, the Company's shares will continue to be listed
on the NYSE, subject to compliance with other NYSE continued listing standards.

CPI Corp. provides portrait photography services at approximately 3,000
locations in the United States, Canada, Mexico and Puerto Rico, principally
in Walmart, Sears and Toys "R" Us stores, and offers on location wedding
photography and videography services through an extensive network of contract
photographers and videographers.

The statements contained in this press release that are not historical facts
are forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, and involve risks and uncertainties.  The
Company identifies forward-looking statements by using words such as
"preliminary," "plan," "expect," "looking ahead," "anticipate," "estimate,"
"believe," "should," "intend" and other similar expressions.  Management
wishes to caution the reader that these forward-looking statements, such
as the Company's outlook with respect to the integration of the acquisition
of the operating assets and certain liabilities of the Bella Pictures
business, portrait studios, net income, future cash requirements, cost
savings, compliance with debt covenants, valuation allowances, reserves
for charges and impairments, capital expenditures and other similar
statements, are only predictions or expectations; actual events or results
may differ materially as a result of risks facing the Company.  Such risks
include, but are not limited to: the Company's dependence on Walmart,
Sears and Toys "R" Us, the approval of the Company's business practices and
operations by Walmart, Sears and Toys "R" Us, the termination, breach,
limitation or increase of the Company's expenses by Walmart under the lease
and license agreements and Sears and Toys "R" Us under the license agreements,
the integration of the Bella Pictures operations into the Company and the
continued development and operation of the Bella Pictures business, customer
demand for the Company's products and services, the development and operation
of the Kiddie Kandids business, the economic recession and resulting decrease
in consumer spending, manufacturing interruptions, dependence on certain
suppliers, competition, dependence on key personnel, fluctuations in
operating results, a significant increase in piracy of the Company's
photographs, widespread equipment failure, compliance with debt covenants,
restrictions on the Company's business imposed by agreements governing its
debt, implementation of marketing and operating strategies, outcome of
litigation and other claims, impact of declines in global equity markets
to the pension plan, impact of foreign currency translation and other risks
as may be described in the Company's filings with the Securities and Exchange
Commission, including its Form 10-K for the year ended February 5, 2011
and its Form 10-Q for the 24 weeks ended July 23, 2011.  The risks described
above do not include events that the Company does not currently anticipate
or that it currently deems immaterial, which may also affect its results
of operations and financial condition.  The Company undertakes no obligation
to update or revise publicly any forward-looking statements, whether as a
result of new information, future events or otherwise.

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