Back Bay Capital Provides $5 Million for JBI Apparel's Acquisition of Repp Ltd.

BOSTON--(BUSINESS WIRE)--May 24, 1999--

Back Bay Capital LLC announced today that it has provided a $5 million Tranche B facility to JBI Apparel, Inc., a newly-formed subsidiary of J. Baker, Inc. Funds will be used primarily to support the company's acquisition of Repp Ltd Big & Tall and Repp Ltd. By Mail, as well as to support the future working capital needs of the companies. Repp and Repp By Mail are divisions of Edison Brothers Stores, Inc., which is currently operating under the protection of the Chapter 11 Bankruptcy Code.

"We are pleased to assist J. Baker in its next phase of growth," said Edward J. Siskin, president of Back Bay Capital. "We are confident that this new financing will enable them to accomplish their strategic objectives."

"Back Bay Capital demonstrated extraordinary responsiveness in structuring this credit facility," said Alan Weinstein, CEO of J. Baker. "This financing provided us with the additional liquidity we needed to move forward with the acquisition. We view them as a partner in our long-term success."

Headquartered in Canton, Mass., J. Baker is a leading specialty retailer of apparel and footwear. The company operates the chain of Casual Male Big & Tall stores, the nation's largest big and tall apparel retailer offering casual and dress clothing and footwear through 454 stores in 47 states. Repp is one of the nation's largest specialty retailers of tall and large men's apparel and operates 176 stores in 31 states. J. Baker's purchase of Repp will substantially increase its market share and will enable the company to reach a previously untapped segment of higher-income consumers. J. Baker will operate 128 stores after selling Repp's Canadian operation to Grafton-Frasier, Inc., a Canadian men's retailer, and closing approximately 30 stores as part of the bankruptcy process. The men's big and tall apparel industry is a high-growth sector and accounted for approximately $5 billion in revenues in 1998.

Back Bay Capital is a high-yield finance group that provides Tranche B, junior secured loans to companies seeking growth financings, bridge and acquisition facilities and turnaround capital. Headquartered in Boston, Back Bay Capital has offices in Chicago and Los Angeles.