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Jos. A. Bank Rejects Men's Wearhouse Acquisition Proposal; Will Continue to Review Strategic Acquisition Opportunities



Jos. A. Bank Rejects Men's Wearhouse Acquisition Proposal; Will Continue to
Review Strategic Acquisition Opportunities

HAMPSTEAD, Md., Dec. 23, 2013 (GLOBE NEWSWIRE) -- Jos. A. Bank Clothiers, Inc.
(Nasdaq:JOSB) ("the Company") today responded to the non-binding acquisition
proposal it received on November 26, 2013, from The Men's Wearhouse,
Inc. (NYSE:MW) ("Men's Wearhouse"). The Company said that after thorough
consideration by its Board of Directors, with the assistance of its financial
and legal advisors, it has unanimously rejected the proposal made by Men's
Wearhouse. The Company's Board of Directors concluded that the price proposed
by Men's Wearhouse significantly undervalued the Company and its near and
long-term potential and was not in the best interest of the Company's
shareholders. Further, as the Company has said previously, it is reviewing all
alternatives regarding potential strategic acquisition opportunities that
would enable the Company to drive significant value for shareholders.

Robert N. Wildrick, Chairman of Jos. A. Bank, said, "Our Board undertook a
thorough review and determined that the per share consideration in the
proposal made to us by Men's Wearhouse was simply not in the best interest of
our shareholders. At the same time, we continue to review acquisition
opportunities that would represent a strong strategic fit with our Company and
provide an opportunity to leverage our core competencies to drive meaningful
growth, synergies and substantial value creation over the long term."

About Jos. A. Bank Clothiers

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 629 stores in 44 states and the
District of Columbia, a nationwide catalog and an e-commerce website that can
be accessed at www.josbank.com. The Company is headquartered in Hampstead,
Md., and its common stock is listed on the NASDAQ Global Select Market under
the symbol "JOSB."

Our statements concerning future operations contained herein are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from those
forecasted due to a variety of factors outside of our control that can affect
our operating results, liquidity, and financial condition. Such factors
include risks associated with domestic and international economic activity and
inflation, 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) and other production inputs (such as labor costs),
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. The identified risk factors and other factors and risks that may
affect our business or future financial results are detailed in our filings
with the Securities and Exchange Commission, including, but not limited to,
those described under "Risk Factors" and/or "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in our Annual
Report on Form 10-K for the year ended February 2, 2013 and our Quarterly
Reports on Form 10-Q filed through the date hereof. These cautionary
statements qualify all of the forward-looking statements we make herein. We
cannot assure you that the results or developments anticipated by us will be
realized or, even if substantially realized, that those results or
developments will result in the expected consequences for us or affect us, our
business or our operations in the way we expect. We caution you not to place
undue reliance on these forward-looking statements, which speak only as of
their respective dates. We do not undertake an obligation to update or revise
any forward-looking statements to reflect actual results or changes in our
assumptions, estimates or projections. These risks should be carefully
reviewed before making any investment decision.

CONTACT: For Jos. A. Bank - Media:
         Thomas Davies/Molly Morse
         Kekst and Company
         212-521-4873/212-521-4826
         thomas-davies@kekst.com
         molly-morse@kekst.com
        
         For Jos. A. Bank - Investment Community:
         David E. Ullman
         EVP/CFO
         410-239-5715
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