Christopher & Banks Corporation Announces Stock Repurchase Program and Increases Quarterly Cash Dividend.

MINNEAPOLIS -- Christopher & Banks Corporation (NYSE: CBK) today announced that its Board of Directors has authorized a two-year stock repurchase program to buy back up to $20 million of the Company's common stock. The primary purpose of the repurchase plan will be to offset the dilutive impact of stock options and restricted stock grants that have been or may be granted to employees and independent directors. The shares may be repurchased from time to time through the open market in a manner consistent with applicable securities laws and regulations and will be funded from available cash.

The Board of Directors also authorized an increase in the quarterly cash dividend on Christopher & Banks' common stock to $0.06 per share from the previous quarterly dividend of $0.04. The dividend change will be effective with the next quarterly dividend which, under the Company's historic pattern, would be payable during the first week of October 2006 to shareholders of record on or about September 18th. The Company will confirm the date of its dividend payment in a later press release.

"We are pleased to provide this value to our shareholders," commented Joe Pennington, Chief Executive Officer. "With the strong cash flows that are generated by our business, we have the financial resources available to fund our stock repurchase program and increase our quarterly dividend while continuing to execute on the growth of our three store concepts. We believe strongly in the fundamental strengths of our business and will continue to maintain our commitment to build shareholder value."

About Christopher & Banks

Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing. The Company currently operates 743 stores in 45 states under the names: Christopher & Banks, C.J. Banks and Acorn. The Company currently has 516 Christopher & Banks stores, 200 C.J. Banks stores and 27 Acorn stores.

This release contains forward-looking statements regarding future performance of the Company. The achievement of such results is subject to certain risks and uncertainties, including changes in economic, market and weather conditions, the effect of consumer tastes and spending habits, the realization of expected economies gained through the use of private label and direct import merchandise, management of growth and other factors outside the Company's control, including factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that may arise after the date hereof.