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Covington Advises Perella Weinberg on $3B J.Crew Deal

November 23, 2010

NEW YORK, November 23, 2010 — J.Crew Group, Inc. today announced that it has entered into a definitive agreement to be acquired by funds affiliated with TPG Capital and Leonard Green & Partners, L.P. Under the terms of the agreement, holders of the outstanding common shares of J.Crew will receive $43.50 per share in cash, or a total of approximately $3 billion. Covington & Burling LLP represented Perella Weinberg Partners, financial advisor to the Special Committee of the J.Crew Board of Directors, on the transaction.

J.Crew is a nationally recognized multi-channel retailer of women's, men's and children's apparel, shoes and accessories. TPG Capital is the global buyout group of TPG, a private investment firm founded in 1992, with more than $48 billion of assets under management. Leonard Green & Partners is a private equity firm with over $9 billion in equity capital under management. Perella Weinberg Partners is a client-focused financial services firm that provides corporate advisory and asset management services to clients around the world.

The New York-based Covington corporate team was led by partner J. D. Weinberg, with associate Richard Kruger.

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