Jos. A. Bank Will Continue to Pursue Its $48 Per Share Cash Acquisition Proposal

Jos. A. Bank Will Continue to Pursue Its $48 Per Share Cash Acquisition

HAMPSTEAD, Md., Oct. 9, 2013 (GLOBE NEWSWIRE) -- Jos. A. Bank Clothiers, Inc.
(Nasdaq:JOSB) today made the following statement in response to the rejection
of its proposal to acquire The Men's Wearhouse, Inc (NYSE:MW).

  "We find the response by Men's Wearhouse to our all-cash $48 per share
  proposal inexplicable.

  "Our proposal provides substantial, immediate, and certain value for Men's
  Wearhouse shareholders. We are proposing a 42% premium to the closing price
  of Men's Wearhouse's common stock on the day before we made our acquisition
  proposal. Our price is significantly greater than the highest price at which
  Men's Wearhouse's stock has traded over the last five years. Yet, the Men's
  Wearhouse Board asserts that our proposal undervalues their company! Based
  on today's market reaction and the strong statements of support that have
  been made since we announced our proposal this morning, we don't believe
  that the stockholders of Men's Wearhouse share that view at all.

  "The formulaic, knee-jerk rejection by Men's Wearhouse, and their refusal to
  even discuss our proposal, do not serve the interests of their shareholders
  or their customers. If the Board of Men's Wearhouse has questions about our
  proposal, we should sit down and discuss them. We are confident we can
  address all of their questions and are prepared to do so immediately.

  "The confidence we have about our proposal is shared by Golden Gate Capital,
  who is prepared to invest approximately $250 million in the combined
  company. Golden Gate is a leading investor in the retail space – they share
  our belief that a combination of Jos. A. Bank and Men's Wearhouse will
  become the leading men's apparel and sportswear designer, manufacturer and
  retailer in the U.S.

  "We urge Men's Wearhouse shareholders to voice their support for Jos. A.
  Bank's $48 per share cash proposal with the management and Board of Men's

About Jos. A. Bank

Jos. A. Bank Clothiers, Inc., established in 1905, is one of the nation's
leading designers, manufacturers and retailers of men's classically-styled
tailored and casual clothing, sportswear, footwear and accessories. The
Company sells its full product line through 623 stores in 44 states and the
District of Columbia, a nationwide catalog and an e-commerce website that can
be accessed at The Company is headquartered in Hampstead, MD,
and its common stock is listed on the NASDAQ Global Select Market under the
symbol "JOSB."

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity investment firm
with over $12 billion of capital under management. The principals of Golden
Gate have a long and successful history of investing across a wide range of
industries and transaction types, including going-privates, corporate
divestitures, and recapitalizations, as well as debt and public equity
investments. Golden Gate is one of the most active investors in leading brands
in the retail and restaurant sectors. Representative investments include
Payless ShoeSource, Eddie Bauer, California Pizza Kitchen, Express, Zales,
J.Jill, Pacific Sunwear, Coldwater Creek, and On the Border Mexican Grill and
Cantina. For additional information, visit

Cautionary Note on Forward-Looking Statements

This press release contains forward-looking statements and information about
our current and future prospects and our operations and financial results,
which are based on currently available information. The forward looking
statements include assumptions about our operations, such as cost controls,
market conditions, liquidity and financial condition. These statements also
include assumptions about our proposed acquisition of The Men's Wearhouse,
Inc. ("Men's Wearhouse") through a merger (including its benefits, results,
effects and timing) that may not be realized. Risks and uncertainties that may
affect our business or future financial results include, among others, risks
associated with the economy, weather, public health and other factors
affecting consumer spending (including negative changes to consumer confidence
and other recessionary pressures), higher energy and security costs, the
successful implementation of our growth strategy (including our ability to
finance our expansion plans), the mix and pricing of goods sold, the
effectiveness and profitability of new concepts, the market price of key raw
materials (such as wool and cotton), seasonality, merchandise trends and
changing consumer preferences, the effectiveness of our marketing programs
(including compliance with relevant legal requirements), the availability of
suitable lease sites for new stores, doing business on an international basis,
the ability to source product from our global supplier base, legal and
regulatory matters and other competitive factors. Risks and uncertainties
related to the proposed transaction include, among others: the risk that Men's
Wearhouse's stockholders do not approve the transaction; potential adverse
reactions or changes to business relationships resulting from the announcement
or completion of the transaction; uncertainties as to the timing of the
transaction; competitive responses to the proposed transaction; the risk that
regulatory or other approvals required for the transaction are not obtained or
are obtained subject to conditions that are not anticipated; the risk that the
other conditions to the closing of the transaction, which include, among
others, negotiation and execution of a mutually satisfactory merger agreement,
approval by each company's board of directors, and negotiating and entering
into satisfactory definitive equity and debt financing agreements, are not
satisfied; costs and difficulties related to the integration of Men's
Wearhouse's businesses and operations with Jos. A. Bank's business and
operations; the inability to obtain, or delays in obtaining, cost savings and
synergies from the transaction; unexpected costs, charges or expenses
resulting from the transaction; litigation relating to the transaction; the
inability to retain key personnel; and any changes in general economic and/or
industry specific conditions. Additional factors that could cause future
results or events to differ from those we expect are those risks discussed
under Item 1A, "Risk Factors," in Jos. A. Bank's Annual Report on Form 10-K
for the fiscal year ended February 2, 2013, Jos. A. Bank's Quarterly Report on
Form 10-Q for the quarter ended May 4, 2013, Jos. A. Bank's Quarterly Report
on Form 10-Q for the quarter ended August 3, 2013, Men's Wearhouse's Annual
Report on Form 10-K for the fiscal year ended February 2, 2013, Men's
Wearhouse's Quarterly Report on Form 10-Q for the quarter ended August 3,
2013, and other reports filed by Jos. A. Bank and Men's Wearhouse with the
Securities and Exchange Commission (SEC). Please read the "Risk Factors" and
other cautionary statements contained in these filings. We undertake no
obligation to update or revise any forward-looking statements, whether as a
result of new information, the occurrence of certain events or otherwise. As a
result of these risks and others, actual results could vary significantly from
those anticipated in this press release, and our financial condition and
results of operations could be materially adversely affected.

Additional Information

Jos. A. Bank's proposal is a preliminary, non-binding indication of interest
to acquire the outstanding shares of Men's Wearhouse, and was submitted based
on the understanding that it is not an offer that is capable of being
accepted, and that there will be no binding agreement between Jos. A. Bank and
Men's Wearhouse or any commitment or obligation on Jos. A. Bank or Men's
Wearhouse with respect to Jos. A. Bank's proposal or a possible transaction
unless and until a definitive agreement is executed by Jos A. Bank and Men's
Wearhouse. Jos. A. Bank's proposal is subject to a number of conditions,
including, among others, Jos. A. Bank's satisfaction with the results of its
due diligence review of Men's Wearhouse in Jos. A. Bank's sole discretion,
negotiation and execution of a mutually satisfactory merger agreement,
approval of a transaction by Jos. A Bank's Board of Directors, and negotiating
and entering into satisfactory definitive equity and debt financing

This communication does not constitute an offer to sell or the solicitation of
an offer to buy any securities or a solicitation of any vote, proxy or
approval. No tender offer for the shares of Men's Wearhouse has been made at
this time.

CONTACT: For Jos. A. Bank - Media:
         Thomas Davies/Molly Morse
         Kekst and Company
         For Jos. A. Bank - Investment Community:
         David E. Ullman
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