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Charming Shoppes comments on Crescendo notice
16
Jan '08
Charming Shoppes Inc, a leading multi-brand, multi-channel specialty apparel retailer specializing in women's plus-size apparel, confirmed that it has received notice that Crescendo Partners II L.P., Series Q, intends to nominate three individuals, including two hedge fund representatives, for election to Charming Shoppes' Board of Directors at the Company's 2008 Annual Meeting of Shareholders. The Company issued the following statement:

• Charming Shoppes' Board of Directors and management team are committed to acting in the best interests of the Company and its shareholders.

• We have had extensive conversations with the group and are prepared to have continuing conversations with them as long as they are constructive. However, the Board of Directors will not be distracted from its focus on the best interests of all Charming Shoppes shareholders by the threat of a proxy contest from a dissident shareholder group.

• Charming Shoppes Board of Directors is independent, diverse and open-minded, and its interests are closely aligned with those of all Charming Shoppes shareholders. Our Board, which is comprised of eight directors, seven of whom are independent, is actively engaged in the strategy of the Company and is committed to building value for all shareholders.

Charming Shoppes Inc


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