KarpReilly LLC Announces Withdrawal of Slate of Nominees for Election to Charlotte Russe Board

KarpReilly LLC Announces Withdrawal of Slate of Nominees for Election to Charlotte Russe Board

KarpReilly LLC (”KarpReilly”) announced today that it is withdrawing its slate of three director nominees for election to the Board of Directors of Charlotte Russe Holding, Inc. (”Charlotte Russe” or the “Company”) (NASDAQ: CHIC) at the Company’s 2009 annual meeting of stockholders on April 28, 2009.

Allan W. Karp, KarpReilly’s managing member, stated, “We thank the Company’s stockholders for the support we have received to date, however, in view of the reports issued by RiskMetrics Group and Glass Lewis & Co., which acknowledge many of our concerns but recommend that stockholders support the incumbent nominees, we believe it is in the best interests of all stockholders for KarpReilly to withdraw its slate of nominees.”

About KarpReilly LLC

KarpReilly LLC is a private investment firm focused on long-term investments in premier consumer growth companies. KarpReilly and its predecessor firm Saunders, Karp & Megrue have owned and helped to build such successful national chains as Dollar Tree Stores, Hibbett Sporting Goods, The Children’s Place, Mimi’s Cafe, Bob’s Discount Furniture, The Habit Burger Grill and Tommy Bahama.