bebe stores, inc. (Nasdaq:BEBE) announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed secondary offering from time to time of 46,914,055 shares of its common stock held by certain selling shareholders (the "Selling Shareholders") affiliated with the Company's chairman, Manny Mashouf. Following effectiveness of the registration statement with the SEC, the Selling Shareholders would intend to sell their shares in the Company over a reasonable period of time in a series of underwritten public offerings or otherwise. bebe is not offering any shares of common stock pursuant of the registration statement and will not receive any proceeds from the sale of any shares thereunder.

No decision has been made to engage in a transaction or transactions, and there can be no assurance that any transaction will occur or, if undertaken, the terms or timing thereof.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

Forward-Looking Statements

Certain statements in this release are "forward-looking statements" made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and are subject to various risks and uncertainties that may cause actual results to differ materially from those that we expected. The statements in this news release, other than historical information, contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ from anticipated results. Wherever used, the words "expect," "plan," "anticipate," "believe" and similar expressions identify forward-looking statements. Any such forward-looking statements are subject to risks and uncertainties. Some of these risks include, without limitation, miscalculation of the demand for our products, effective management of our growth, decline in comparable store sales performance, ongoing competitive pressures in the apparel industry, changes in the level of consumer spending or preferences in apparel, loss of key personnel, difficulties in manufacturing, disruption of supply, adverse economic conditions, and/or other factors that may be described in the Company's annual report on Form 10-K and/or other filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statement.

About bebe stores, Inc.:

bebe stores, inc. is a global specialty retailer, which designs, develops and produces a distinctive line of contemporary women's apparel and accessories under the bebe, BEBE SPORT and bbsp brand names. bebe currently operates 166 bebe retail stores including the on-line store bebe.com, and 35 bebe outlet stores. These stores are located in the United States, U.S. Virgin Islands, Puerto Rico and Canada. bebe also distributes and sells bebe branded product through its licensees in approximately 20 countries.

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