Jos. A. Bank Responds, Says Terminated Proposal Earlier Today, Would Immediately Consider If Men's Wearhouse Changed Stance

In response to inquiries, Jos. A. Bank Clothiers, Inc. JOSB today made the following statement with respect to the actions Eminence Capital has taken regarding The Men's Wearhouse, Inc. MW: "This is a matter between the Men's Wearhouse Board and its shareholders. We made a bona fide, friendly proposal to acquire Men's Wearhouse for $48 per share in cash, or possibly more if the company could demonstrate greater value through limited due diligence. The Men's Wearhouse board rejected our $48 proposal on October 9 and has refused to engage with us since. As a result, we terminated our proposal earlier today in order to consider other strategic alternatives which we have been investigating. We strongly believe that a transaction would be in the best interest of both companies, our respective shareholders, and the industry. Should the Men's Wearhouse Board change its stance, we would immediately consider whether a new proposal to acquire Men's Wearhouse is warranted."