Lafitte Capital Management, L.P. Announces Support for CPI Board Nominees

AUSTIN, Texas, June 22  /PRNewswire/ -- Lafitte Capital Management, L.P. today announced that it has decided, after careful consideration, to support the director candidates nominated by the CPI Board of Directors at CPI Corp.'s (NYSE:CPY) upcoming Annual Meeting of Stockholders.

Bryant Regan, General Partner, said "We intend to vote our shares, which represent approximately 7.8% of CPI's outstanding shares, in favor of all of the CPI Board's nominees at the upcoming Annual Meeting.  We are pleased with the strategic direction of the Company under the stewardship of the CPI Board. Furthermore, we are extremely pleased with the Board's slate, which includes the nomination of Paul Finkelstein.  We believe Mr. Finkelstein will bring highly relevant experience and expertise to the CPI Board.  After speaking with both CPI and Ramius, we feel that the interests of our clients are best served by electing the directors nominated by the CPI Board of Directors."

Lafitte Capital Management, L.P. is an Austin TX-based hedge fund management firm. The firm manages the Lafitte series of funds. 

DATASOURCE: Lafitte Capital Management, L.P.



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