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Egan-Jones recommends CHRS' shareholders vote for re-election of BoD

02
May '08

Charming Shoppes Inc announced that Egan-Jones Proxy Services has recommended that Charming Shoppes' shareholders vote FOR Charming Shoppes' experienced and highly qualified directors and reject Crescendo's and Myca's nominees at the Company's 2008 Annual Meeting of Shareholders on Thursday, May 8, 2008.

Egan-Jones is a leading independent proxy voting and corporate governance advisory firm. The recommendations of Egan-Jones are relied upon by hundreds of major institutional investment firms, mutual funds, and other fiduciaries throughout the country. To follow Egan-Jones' recommendation, Charming Shoppes' shareholders should vote FOR the re-election of the Company's directors on the Company's GOLD proxy card.

Commenting on announcement, Katherine M. Hudson, Lead Independent Director, said, "We are pleased that Egan-Jones supports the re-election of Charming Shoppes' directors. The Egan-Jones recommendation reaffirms our belief that we have the right Board in place to lead the Company in the current environment and enhance shareholder value in the future.

We strongly urge shareholders to re-elect our experienced and highly qualified directors - Dorrit J. Bern, our Chairman, President and Chief Executive Officer, Alan Rosskamm and M. Jeannine Strandjord - on the GOLD proxy card today."

In its May 1, 2008 report, Egan-Jones stated:
"We believe that support for the slate of directors presented by the management is in the best interest of the Company and its shareholders. The current Board and management team have a record of navigating through difficult economic environments.

During the economic downturn in 2002 and 2003, the Board and management team implemented a series of initiatives to control inventory, reduce overhead costs, refocus the growth of core brands through merchandising and store execution, and further developed Lane Bryant - Charming Shoppes' primary growth vehicle today, which had been acquired in 2001."

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