Berger & Montague P.C. Announces Class Action Lawsuit Against Abercrombie & Fitch Co. and Lazard Freres & Co., LLC.

PHILADELPHIA--(BUSINESS WIRE)--Oct. 29, 1999--

Berger & Montague P.C. (Http://home.bm.net. E-mail: [e-mail]) filed a class action lawsuit for violations of the federal securities laws in the United States District court for the Southern District of Ohio against Abercrombie & Fitch Co. (NYSE:ANF), and its officers, Michael S. Jeffries and Seth R. Johnson; and Lazard Freres & Co., LLC, ("Lazard") and its securities analyst, Todd Slater.

This case is filed as a class action on behalf of all persons who purchased Abercrombie & Fitch Co. ("A&F") common stock between October 8 and October 13, 1999, inclusive.

The Complaint alleges that Abercrombie & Fitch Co. and its highest officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Complaint alleges that the Abercrombie & Fitch defendants issued materially false and misleading statements while selectively disclosing only to defendant Slater, a securities analyst at Lazard Freres & Co., that A&F expected only 12% growth in same-store revenues, far lower growth than what had been communicated to other securities analysts.

As a result of this selective disclosure, Lazard's top clients were able to sell significant holdings in A&F's stock prior to the October 13, 1999 public disclosure of A&F's true financial condition. After revelation of A&F's true financial condition and its selective disclosure of the poorer results to Lazard's analyst, A&F's stock price plummeted from its Class Period high above $39 per share to below $24 per share.

If you purchased Abercrombie & Fitch common stock between October 8 and October 13, 1999 you may wish to join the action. You may move the court to serve as a lead plaintiff no later than 60 days from October 19, 1999.

The law firm of Berger & Montague, P.C. has over 50 attorneys, all of whom represent plaintiffs in complex litigation. The Berger firm has extensive experience in representing plaintiffs in class action securities litigation and has played lead roles in major cases over the past 25 years which have resulted in recoveries in excess of two billion dollars to investors.

The firm is currently representing investors as lead counsel in actions against Waste Management, Inc., Sunbeam Corp., and numerous other companies.

If you wish to discuss this action or have any questions concerning this notice or your rights with respect to this matter, you may call or write to:

Susan Kutcher Investor Relations

Email: [e-mail]

Berger & Montague, P.C. 1622 Locust Street

Philadelphia, PA 19103 Phone: [phone] or 215/875-3000 Fax: [phone] Website: http://home.bm.net or Sherrie R. Savett, Esquire Lawrence Deutsch, Esq. Direct phone: [phone] Fax: [phone] Email: [e-mail]