Deb Shops, Inc. Names Diane M. Paccione New CEO

Share Name	Share Symbol	Market	Type
Deb Shops (MM)	NASDAQ:DEBS	NASDAQ	Common Stock

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Deb Shops, Inc. Names Diane M. Paccione New CEO

05/02/2008 2:23pm

PR Newswire (US)

Deb Shops (NASDAQ:DEBS)
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PHILADELPHIA, Feb. 5 /PRNewswire-FirstCall/ -- Deb Shops, Inc. ("Deb Shops" or the "Company"), a national specialty retailer of apparel and accessories for juniors in both regular and plus sizes, announced today the hiring of Diane M. Paccione as the Company's new Chief Executive Officer (CEO). With over 30 years of retail apparel experience, Paccione brings a strong background in retail merchandising and operations to lead the Deb Shops team. Paccione joins Deb Shops from Charming Shoppes, Inc., where she most recently served as President of women's retailers Fashion Bug, Catherines, Petite Sophisticate Outlets, and Lane Bryant Outlets. Paccione began her retail career at Bloomingdale's, Inc. before joining the May Company, where she was Vice President/Divisional Merchandise Manager. Paccione later joined Sears, Roebuck, and Company, where she served as Vice President and General Merchandise Manager. Paccione will join Allen Questrom, the Chairman of Deb Shops, on the Company's board of directors. Questrom, who has over 40 years of retail apparel experience, currently serves as a Senior Advisor to Lee Equity Partners, LLC ("Lee Equity"). On October 23, 2007, an affiliate of Lee Equity acquired Deb Shops for approximately $395 million. "Diane Paccione has a long track record of success in leading teams in retail apparel - she brings a tremendous amount of leadership and merchandising experience to the talented management team at Deb Shops," Questrom said. "Lee Equity and the Deb Shops board are excited about the long-term prospects for the Company as it works to grow its already strong customer base. We are pleased to have an executive with Diane's talents lead the management team in this next phase of growth." "The Deb Shops team is very excited to welcome Diane Paccione as our new Chief Executive Officer," said Allan Laufgraben, Senior Vice President of Merchandising at Deb Shops. "Diane's extensive retail background will be a significant asset to merchandising and operations at Deb Shops, and we look forward to executing our growth strategy under her leadership." About Deb Shops, Inc. Deb Shops, Inc. is a national specialty retailer of fashionable apparel, shoes and accessories for juniors in both regular and plus sizes. The Company operates 343 specialty apparel stores in 43 states under the DEB and Tops 'N Bottoms names. About Lee Equity Partners, LLC Lee Equity Partners, LLC is a New York private investment firm founded by Thomas H. Lee in August 2006. Mr. Lee is a leader in the private equity industry, and his new firm, Lee Equity Partners, continues his longstanding focus on growth-oriented investing. Lee Equity integrates a deep experience base in selected industries, including retail and consumer products, with an intensive, fact-based approach to due diligence, and a world-class strategy and operations capability to create returns for its investors. DATASOURCE: Deb Shops, Inc. CONTACT: Barry J. Susson, Chief Financial Officer of Deb Shops, Inc., +1-215-676-6000 x362; or Michael Sitrick, Spokesman for Lee Equity Partners, LLC, +1-310-788-2850 Web site: http://www.debshops.com/

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DEBS Deb Shops (MM)