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WJ Acquisition & Whitehall Jewellers announces subsequent offering period ends

Mar '06
Prentice Capital Management LP and Whitehall Jewellers Inc announced the expiration of the subsequent offering period to the cash tender offer by WJ Acquisition Corp, a wholly owned subsidiary of WJ Holding Corp, each an affiliate of Prentice and Holtzman Opportunity Fund LP, for the outstanding shares of common stock of Whitehall at $1.60 net per share in cash, without interest.

The subsequent offering period expired at 5:00 p.m., New York City time, on Thursday, March 16th 2006.

Based on information provided by Continental Stock Transfer & Trust Company, the depositary for the offer, a total of 8,432,824 shares, representing approx. 50.3 percent of the outstanding common stock of Whitehall, were validly tendered pursuant to the tender offer, including the subsequent offering period.

Together with shares beneficially owned by the Investors, WJ Acquisition now owns an aggregate of 12,716,619 shares, representing approx. 76 percent of the outstanding common stock of Whitehall. All such shares validly tendered and not withdrawn have been accepted for purchase in accordance with the terms of the tender offer.

Whitehall and the Investors will, as promptly as practicable, take all action within their control to effect a merger of Whitehall with WJ Acquisition in which all remaining holders of Whitehall common stock will receive the same consideration for their shares as the holders who tendered their shares in the offer.

Whitehall Jewellers Inc is a national specialty retailer of fine jewelry, operating 360 stores in 38 states. It has announced intends to close a number of stores in the near term. It operates stores in regional and super regional shopping malls under the names Whitehall Co Jewellers, Lundstrom Jewelers and Marks Bros Jewelers.

Whitehall Jewellers Inc

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