Jo-Ann Stores Announces Approval and Expected Closing of Merger

Jo-Ann Stores, Inc. JAS announced that, at the special meeting of shareholders held today, its shareholders approved the adoption of the merger agreement between an affiliate of Leonard Green & Partners, L.P. and the Company. Of the shares that were voted, over 99% were in favor of the adoption of the merger agreement. Approximately 82% of the total outstanding shares, as of the record date, voted in favor of the merger agreement.

The Company anticipates the closing of the transactions contemplated by the merger agreement, including the merger, will occur later today. With the closing of the merger, shares of the Company's common stock will no longer trade on the New York Stock Exchange and will be delisted.