April 22 (Reuters) - Express Inc ( EXPR ):

* EXPRESS, INC. ( EXPR ) RECEIVES LETTER OF INTENT FROM CONSORTIUM

LED BY

WHP GLOBAL FOR SALE OF BUSINESS

* INITIATES COURT-SUPERVISED PROCESS TO FACILITATE FORMAL

SALE

PROCESS

* RECEIVES COMMITMENT FOR $35 MILLION IN NEW FINANCING TO

SUPPORT

ONGOING OPERATIONS

* EXPRESS AND ITS SUBSIDIARIES HAVE FILED VOLUNTARY CHAPTER

11

PETITIONS IN U.S. BANKRUPTCY COURT FOR DISTRICT OF DELAWARE

* EXPRESS AND ITS SUBSIDIARIES HAVE FILED VOLUNTARY CHAPTER

11

PETITIONS IN U.S. BANKRUPTCY COURT FOR DISTRICT OF DELAWARE

* ADDITIONALLY, ON APRIL 15, 2024, COMPANY RECEIVED $49

MILLION IN

CASH FROM INTERNAL REVENUE SERVICE RELATED TO CARES ACT.

* EXPECTS TO CONDUCT BUSINESS AS USUAL AS COMPANY WORKS TO

RIGHT-SIZE ITS LEASE PORTFOLIO AND OPERATIONS

* EXPECTS TO CONDUCT BUSINESS AS USUAL AS COMPANY WORKS TO

RIGHT-SIZE ITS LEASE PORTFOLIO AND OPERATIONS

* CONTINUING TO SERVE CUSTOMERS IN STORES AND ONLINE ACROSS

ITS

EXPRESS, BONOBOS AND UPWEST BRANDS

* COMPANY INTENDS TO CLOSE APPROXIMATELY 95 EXPRESS RETAIL

STORES

AND ALL UPWEST STORES

* CLOSING SALES AT AFFECTED STORES ARE SCHEDULED TO BEGIN ON

APRIL

23, 2024

* NAMED MARK STILL AS SENIOR VICE PRESIDENT AND CHIEF

FINANCIAL

OFFICER, EFFECTIVE IMMEDIATELY

* MARK STILL AS SENIOR VICE PRESIDENT AND CHIEF FINANCIAL

OFFICER,

EFFECTIVE IMMEDIATELY

* EXPECTS TO HAVE SUFFICIENT LIQUIDITY TO SUPPORT BUSINESS

DURING

COURT-SUPERVISED SALE PROCESS

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