Express, Inc. Confirms Receipt of Letter from Sycamore Partners

       Express, Inc. Confirms Receipt of Letter from Sycamore Partners

Establishes Special Committee of the Board; Adopts Stockholder Rights Plan

PR Newswire

COLUMBUS, Ohio, June 12, 2014

COLUMBUS, Ohio, June 12, 2014 /PRNewswire/ -- Express, Inc. (NYSE: EXPR)
confirmed today that it has received a letter from Sycamore Partners, which
owns approximately 9.9% of Express' outstanding shares, indicating that
Sycamore Partners is interested in acquiring the Company.

The Company also announced that it has established a Special Committee of the
Board to determine a course of action it believes is in the best interest of
all stockholders. In addition, Perella Weinberg Partners LP and Sullivan &
Cromwell LLP have been engaged to serve as advisors to the Company and the
Special Committee.

The Company also has adopted a Stockholder Rights Plan (the "Rights Plan"),
which is intended to ensure all stockholders realize the long-term value of
their investment in the Company and protect them from unfair or coercive
takeover attempts. The Rights Plan is intended to provide the Board with
sufficient time to consider any and all alternatives to an offer and does not
prevent the Board from considering or accepting an offer, if the Board
believes such action is fair, advisable and in the best interests of its

Under the Plan, one right will be distributed for each share of Express common
stock outstanding at the close of business on June 23, 2014. If any person or
group acquires 10% or more of the voting power of the Company's outstanding
common stock without the approval of the Board of Directors, there would be a
triggering event causing significant dilution in the voting power of such
person or group. Existing 10% or greater stockholders are grandfathered to
the extent of their June 12, 2014 ownership levels. The Rights Plan, which is
similar to the rights plans of many other public companies, will continue in
effect until June 12, 2015, unless ratified by a majority vote of the
Company's stockholders (in which case the Rights Plan will expire on June 12,
2017) or unless earlier redeemed or terminated by Express, as provided in the
Rights Plan.

About Express, Inc.

Express is a specialty apparel and accessories retailer of women's and men's
merchandise, targeting the 20 to 30 year old customer. The Company has over 30
years of experience offering a distinct combination of fashion and quality for
multiple lifestyle occasions at an attractive value addressing fashion needs
across work, casual, jeanswear, and going-out occasions. The Company currently
operates more than 600 retail and factory outlet stores, located primarily in
high-traffic shopping malls, lifestyle centers, and street locations across
the United States, Canada and Puerto Rico. Express merchandise is also
available at franchise stores in the Middle East and Latin America. The
Company also markets and sells its products through the Company's e-commerce

Forward-Looking Statements:

Certain statements are "forward-looking statements" made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include any statement that does not directly relate
to any historical or current fact, including but not limited to statements
regarding the future effect of the Rights Plan or any current or future
proposal. These forward-looking statements are made as of the date they were
first issued and are based on current expectations. Forward-looking
statements are subject to a number of risks and uncertainties, many of which
involve factors or circumstances that are beyond Express's control. Express
expressly disclaims any intent or obligation to update these forward-looking
statements except as required by law. Additional information concerning these
and other risks can be found in press releases issued by Express, as well as
Express's public filings with the U.S. Securities and Exchange Commission,
including the discussion under the heading "Risk Factors" in Express's most
recent Annual Report on Form 10K and any subsequent Quarterly Reports on Form
10Q. Copies of Express's press releases and additional information about
Express are available at or you can contact the Express
Investor Relations Department by calling 1-888-423-2421 or emailing

SOURCE Express, Inc.

Contact: Investor Contacts: Marisa Jacobs, Express, Inc., Vice President
Investor Relations, (614) 474-4465; Allison Malkin, ICR, Inc., (203) 682-8225;
Media Contact: Debbie Miller/Meghan Gavigan, Sard Verbinnen & Co, (312)
Press spacebar to pause and continue. Press esc to stop.