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Charlotte Russe announces results of Dutch Auction tender

04
Apr '08

Charlotte Russe Holding Inc a growing mall-based specialty retailer of fashionable, value-priced apparel and accessories targeting young women in their teens and twenties, announced the preliminary results of its previously announced modified "Dutch Auction" tender offer, which expired at 5:00 P.M, New York City Time, on Wednesday, April 2, 2008.

Based on the preliminary count by the depositary for the tender offer, the Company expects to purchase approximately 4,080,000 shares in the tender offer, at a price of $18.00 per share, for a total cost of approximately $73.4 million, excluding fees and expenses related to the tender offer.

Based on the depositary's preliminary count, a total of approximately 9.4 million shares were validly tendered in the offer at a price of $18.00 per share.

Accordingly, the preliminary proration factor for the offer will be approximately 43.6 percent. The approximately 4,080,000 shares expected to be purchased in the tender offer represent approximately 16.3 percent of the shares outstanding on April 2, 2008.

The shares expected to be purchased in the tender offer include the 4,000,000 shares the Company initially offered to purchase and 80,000 additional shares that the Company has elected to purchase pursuant to the terms of its tender offer.

The number of shares to be purchased and the price per share under the tender offer are preliminary. Final results will be determined subject to confirmation by the depositary of the proper delivery of the shares validly tendered and not withdrawn.

The actual number of shares to be purchased and the price per share will be announced following the completion of the confirmation process. Payment for the shares accepted for purchase will occur promptly thereafter.

Charlotte Russe Holding Inc

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