RUE Rue21, Inc. (MM)

rue21,inc. (Nasdaq:RUE) today announced the pricing of the public offering of 6,053,877 shares of common stock at a price of $28.50 per share in a secondary public offering. In addition, the underwriters have an option to purchase up to an additional 908,081 shares from certain selling stockholders.

The selling stockholders will receive all of the proceeds from this offering. The Company will not receive any proceeds from the offering. 

BofA Merrill Lynch, Goldman, Sachs & Co., and J.P. Morgan are acting as joint book-running managers, and Barclays Capital, Credit Suisse Securities (USA) LLC and Piper Jaffray & Co. are acting as co-managers for the secondary offering.

The offering is being made by the selling stockholders only by means of the written prospectus forming part of the effective registration statement. A copy of the final prospectus related to the offering, when available, may be obtained by contacting: BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department, or email Prospectus.Requests@ml.com; Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004, Attention: Prospectus Department, Telephone: 1-866-471-2526, or email prospectus-ny@ny.email.gs.com; J.P. Morgan Securities Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 1-866-803-9204.

A registration statement relating to shares of the common stock was declared effective by the Securities and Exchange Commission on February 25, 2010. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About rue21, inc.

rue21 is a leading specialty apparel retailer offering exclusive branded merchandise and the newest trends at a great value. As of February 25, 2010, rue21 operated 545 store locations in 43 states.

CONTACT:  ICR, Inc.

          Joseph Teklits

          203-682-8200

          jteklits@icrinc.com