Borders Group Special Shareholder's Meeting Adjourned Until September 30

Borders Group, Inc. BGP today announced that it adjourned its special shareholder's meeting scheduled for today, Sept. 29, in order to allow additional time for its shareholders to consider the proposals submitted to them for a vote. The meeting will now be held Sept. 30 at 5 p.m. at the Borders Group headquarters. Shareholders were asked to approve the issuance to LeBow Gamma Limited Partnership, an entity controlled by Bennett S. LeBow, of a stock purchase warrant exercisable to acquire 35.1 million shares of the company's common stock as well as the issuance of the shares underlying the warrant. In addition, shareholders were also asked to approve a proposal granting certain consent rights relating to the appointment of executive officers.