October 12, 2006

Attention: Business Editors

THE BARGAIN! SHOP NOW CANADIAN OWNED

TORONTO, ONTARIO, CANADA, October 12, 2006

The Bargain! Shop, a fast growing chain of extreme-value, general merchandise stores with locations across Canada, announced today that a group led by a Toronto-based private equity firm and members of the Management of the company, led by CEO Michael Roellinghoff, have purchased all outstanding shares from its previous controlling shareholders, led by Banyan Capital Group LLC.

Headquartered in Mississauga, Ontario, The Bargain! Shop stores offer both brand-name and private-label first quality merchandise across a broad selection of product categories, including basic consumables, hard-goods and apparel. Since a management buy-out in 1999, from what was once the F.W. Woolworth Company, The Bargain! Shop has grown from 85 to 154 locations and is a leading general merchandise retailer, serving mainly value conscious middle-income consumers. The Company's stores are located in secondary and tertiary markets, and in under-served urban neighborhoods. It operates stores in all provinces except Quebec.

"We are confident in our business plan and in the growth potential of TB!S, and we're delighted that we were able to attract a Canadian equity fund to take a controlling interest in the company." said Mr. Roellinghoff. "Our new partnership will strengthen our resources to support the further expansion of The Bargain! Shop across the country, bringing our blend of value and convenience to more and more Canadians."

Terms of the transaction were not disclosed.