Men's Wearhouse Signs Definitive Agreement to Acquire After Hours Formalwear

HOUSTON, Nov. 17  /PRNewswire-FirstCall/ -- Men's Wearhouse (NYSE:MW) today announced that it has signed a definitive agreement with Federated Department Stores, Inc. (NYSE:FD) and David's Bridal, Inc. to acquire After Hours Formalwear ("After Hours") for a cash consideration of $100 million, subject to certain adjustments.  After Hours is the largest men's formalwear chain in the U.S. specializing in rental of tuxedos and related furnishings. The transaction is subject to the customary regulatory approvals and is expected to close on or after February 2, 2007.  No other terms were disclosed.

George Zimmer, Men's Wearhouse founder, chairman and chief executive officer, stated, "We are extremely pleased to announce this acquisition as we execute our strategy to be a market leader in men's tailored clothing categories and related services in North America.

"We are committed to creating exceptional experiences, choices and convenience for our customers.  This acquisition will provide our customers with a broader selection of formalwear and creates a new foundation for growth by driving efficiencies across the combined assets.

"Combining the Men's Wearhouse and Moores brands' 654 U.S. and Canadian locations, which rented over 1 million tuxedos last year, with After Hours 511 stores we will have 1,165 locations that have an estimated baseline volume of three million tuxedo rental units in North America.  We firmly believe we can integrate the two organizations during 2007 and realize significant benefits for shareholders beginning in 2008 and beyond," concluded Zimmer.

After Hours is the largest men's formalwear chain in the U.S.  After Hours operates 511 stores in 35 states under After Hours Formalwear, Mr. Tux and Squire Tux store fronts and employs approximately 4,200 full and part time personnel.  The stores feature the After Hours private brand as well as exclusive designer brands, such as Claiborne, Tommy Hilfiger and Nicole Miller.  After Hours has an exclusive relationship with David's Bridal, the nation's largest bridal retailer with 269 stores and an online offering.  That exclusivity will remain effective after the acquisition and will be extended to Men's Wearhouse and Moores store brands.

Men's Wearhouse is one of North America's largest specialty retailers of men's apparel with 743 stores.  Founded in 1973, the stores carry a full selection of designer, brand name and private label suits, sport coats, furnishings and accessories, including tuxedo rentals available in the Men's Wearhouse and Moores store locations.

This press release contains forward-looking information.  The forward- looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements may be significantly impacted by various factors, including unfavorable local, regional and national economic developments, disruption in retail buying trends due to homeland security concerns, severe weather conditions, aggressive advertising or marketing activities of competitors and other factors described herein and in the company's annual report on Form 10-K for the year ended January 28, 2006 and subsequent Forms 10-Q.

For additional information, please visit the company's website at http://www.menswearhouse.com/ .

CONTACT:  Neill Davis, Men's Wearhouse [phone]

Ken Dennard, DRG&E [phone] 

DATASOURCE: The Men's Wearhouse, Inc.



CONTACT:  Neill Davis of The Men's Wearhouse, Inc., [phone]; or

Ken Dennard of DRG&E, [phone], for The Men's Wearhouse, Inc.



Web site:  http://www.menswearhouse.com/ 

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