Borders Group Names Scott Henry Executive VP, CFO

Borders Group, Inc. BGP announced it has appointed Scott Henry Executive Vice President and Chief Financial Officer, effective today. He reports to Mike Edwards, President of Borders Group, Inc. and President and CEO of Borders, Inc. Henry, 45, is a seasoned executive who brings more than 20 years of financial management experience to Borders Group. He has expertise in all aspects of internal and external corporate and operational financial management and business development. Since April 2009, Henry has been President of S.D. Henry Strategic Services, LLC, a provider of business and financial consulting services focused on the gaming, hospitality and leisure industries. From September 2004 to April 2009, Henry held senior executive roles, including Chief Financial Officer and Senior Vice President–Finance at multinational, NYSE-listed Las Vegas Sands Corp., where, among his other accomplishments, he led capital raising and financing transactions amounting to more than $22 billion to support the company's growth plans including its IPO. While at Sands, Henry oversaw the fortification of the company's controls platform and led the company through the Sarbanes Oxley (SOX) process. He jointly engineered the overhaul and expansion of the finance departments to support the company's growth and business development efforts, as well as the implementation of business process improvements designed to streamline and enhance efficiency of the company's operations. Additionally, in the midst of the global credit and financial crisis, Henry played an integral leadership role in Sands' cost savings and liquidity management efforts. "We are confident that Scott Henry, with his strong corporate financial management and investment banking expertise, is the right choice for Borders," said Edwards. "Scott has a strong track record of going beyond the pure accounting function to add strategic depth to finance to drive significant results. I look forward to his taking an important role in re-positioning Borders as a leader in retail." Prior to joining Las Vegas Sands Corp., Henry spent over 17 years on Wall Street as an investment banker, responsible for providing strategic advisory, capital raising and financing services to businesses across a wide range of consumer-centric and real estate-intensive industries, including gaming, hospitality and leisure, telecommunications, media and technology and real estate. He has held senior management positions at ABN Amro, Prudential Securities and Salomon Brothers. Henry earned his Bachelor of Science in Finance, Management Information Systems and Statistics from Syracuse University School of Management. In accordance with New York Stock Exchange rules, Borders Group reported that it is issuing to Henry on Oct. 18, 2010 an employee inducement award consisting of options to purchase 300,000 shares of the company's common stock and 200,000 restricted shares. The options have a seven-year term, an exercise price of $1.43 (the closing price on Oct. 15, 2010) and vest on the third anniversary of the grant date. The restricted shares vest in installments over the three-year period following the grant date.