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Books-A-Million, Inc. Announces Formation Of Special Committee Of Board Of Directors

Books-A-Million, Inc. (NASDAQ: BAMM) (the “Company”) announced today that its Board of Directors has formed a special committee of independent directors (the “Special Committee”) consisting of Albert C. Johnson and J. Barry Mason to, among other things, evaluate and make a recommendation regarding the Company’s response to the proposal made on April 28, 2012 by Clyde B. Anderson, the Company’s Executive Chairman, and other members of the Anderson family to acquire all of the outstanding shares of common stock of the Company, at a cash purchase price of $3.05 per share (the “Proposal”).

The Special Committee has retained King & Spalding LLP as its legal counsel and is in the process of retaining financial advisors.

The Board of Directors cautions the Company’s shareholders and others considering trading in its securities that the Board of Directors has only recently received the Proposal and no decisions have been made by the Board of Directors or the Special Committee with respect to the Proposal. There can be no assurance that any definitive offer will be made or accepted, that any agreement will be executed or that any transaction will be consummated.

This press release is not a solicitation of a proxy, an offer to purchase nor a solicitation of an offer to sell shares of the Company, and it is not a substitute for any proxy statement or other filings that may be made with the Securities and Exchange Commission (the “SEC”) should this proposed transaction go forward. If such documents are filed with the SEC, investors will be urged to thoroughly review and consider them because they will contain important information, including risk factors. Any such documents, once filed, will be available free of charge at the SEC’s website ( and from the Company.

Books-A-Million, Inc. is one of the nation’s leading book retailers and sells on the Internet at The Company presently operates 255 stores in 31 states and the District of Columbia. The Company operates large superstores under the names Books-A-Million (BAM!), Books & Co. and 2nd & Charles and traditional bookstores operating under the names Bookland and Books-A-Million. The common stock of Books-A-Million, Inc. is traded on the NASDAQ Global Select Market under the symbol BAMM. For more information, visit the Company’s corporate website at

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