2008-08-01 23:27:03 -

- Charlotte Russe, Inc. (NASDAQ: CHIC), today announced several promotions and organizational changes as a part of the Board's ongoing strategic development process. Len Mogil, currently interim Chief Executive Officer and a director on the Board, will assume the additional position of interim Chief Financial Officer. The position was previously held by Patti Johnson, 50, who resigned effective August 14,

2008.

In addition, Edward Wong, currently Executive Vice President and Chief Supply Chain Officer, has been promoted to Chief Operating Officer; Sandra Tillett, currently Senior Vice President, Store Operations, has been promoted to Executive Vice President of Store Operations; and Zina Rabinovich, currently Vice President and Corporate Controller, has been promoted to Senior Vice President and Corporate Controller.

The Company also announced that Kara Stangl, currently Vice President, responsible for accessories, footwear, handbags, jewelry and the bluChic brand and Jennifer Mitchell, currently Vice President, responsible for marketing, visual merchandising, and merchandise operations, have both been promoted to Senior Vice President of Merchandising and will co-lead merchandising until a permanent replacement is identified. They will replace Patti Shields, Executive Vice President and General Merchandising Manager, who resigned effective August 14, 2008.

Len Mogil, Interim Chief Executive Officer and Chief Financial Officer of Charlotte Russe, said, "I would like to congratulate these dedicated and hard-working executives on their well-deserved promotions, which reflect the achievements and contributions they have each made to the overall success of the Company. Ed, Sandra, Zina, Kara and Jennifer are all extremely qualified and respected executives, and are poised to seamlessly step into the roles they are about to fill."

Mogil continued, "With these appointments, the Board is recognizing the great depth of talent at the Company and further advancing our strategic development process currently underway to capitalize on future growth opportunities and enhance shareholder value. In addition to these meaningful organizational changes, we are committed to finding the right people to permanently fill the Chief Financial Officer and General Merchandise Manager positions and have already commenced a formal search process. Charlotte Russe is a solid Company with great potential, and we are focused on executing our business plan as we take the Company to the next level."

About Charlotte Russe

Charlotte Russe Holding, Inc. is a mall-based specialty retailer of fashionable, value-priced apparel and accessories targeting young women in their teens and twenties. At June 28, 2008 the Company operated 469 stores in 45 states and Puerto Rico. The Company expects to open approximately 60 new stores in fiscal 2008. For more information about the Company, please visit www.charlotterusse.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Except for the historical information contained herein, this press release contains forward-looking statements. Such statements include, but are not limited to, projections of our future results of operations or of our financial condition, our anticipated management and growth strategies and new store openings. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or from any results expressed or implied by such forward- looking statements. These risks and uncertainties include, but are not limited to, the risks that the Company will not achieve anticipated financial results or comparable store sales increases, the Company will not open new Charlotte Russe stores or remodel existing stores in the numbers or on the schedule anticipated, general and regional economic conditions, industry trends, consumer demands and preferences, competition from other retailers and uncertainties generally associated with women's apparel and accessory retailing. A complete description of these factors, as well as others that could affect the Company's business, is set forth in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission.

Investors:
The Consumer Group
Charlotte Russe Holding, Inc.
Christine Greany, 858-523-1732
OR
Media:
Sard Verbinnen & Co
Stephanie Pillersdorf / Kara Findlay
212-687-8080