Ascena Retail Group Announces Closing Of Figi’s Sale

Ascena Retail Group, Inc. (NASDAQ:ASNA) (the “Company”) today announced that it has closed the sale of Figi’s, a leading food gift retailer, to Mason Companies, Inc. Terms of the sale were not disclosed, but the Company noted that net proceeds from the transaction will be used to reduce indebtedness under its existing credit facility.

About Ascena Retail Group, Inc.

Ascena Retail Group, Inc. (NASDAQ:ASNA) is a leading specialty retailer offering clothing, shoes, and accessories for missy and plus-size women, under the Lane Bryant, Cacique, maurices, dressbarn and Catherines brands; and for tween girls and boys, under the Justice and Brothers brands. Ascena Retail Group, Inc. operates through its subsidiaries approximately 3,900 stores throughout the United States, Puerto Rico and Canada.

For more information about Ascena Retail Group, Inc. and its brands, visit www.ascenaretail.com, www.shopjustice.com, www.lanebryant.com, www.maurices.com, www.dressbarn.com, www.catherines.com, www.cacique.com and www.shopbrothers.com.

Copyright Business Wire 2010

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