Retail Ventures, Inc. (NYSE: RVI) announced today that it has entered into a non-binding indication of interest with a third party for the possible acquisition of all or a majority of the outstanding units of the membership interest in Value City Department Stores LLC. The indication of interest is subject to certain conditions including due diligence and provides for a 25 day exclusivity period. There is no assurance that the indication of interest will ultimately lead to a transaction or, if there is a transaction, what the ultimate terms would be.

On October 3, 2007, Value City Department Stores entered into an agreement with Burlington Coat Factory Warehouse Corporation to assign or sublease up to 24 locations such that the affected stores will close their operations on or before the end of March, 2008. This transaction between Burlington Coat Factory Warehouse Corporation and Value City Department Stores will not be affected by the proposed acquisition.

    Retail Ventures, Inc. is a leading off-price retailer operating as of November 3, 2007, 113 Value City Department Stores in the Midwest, mid- Atlantic and southeastern United States, 36 Filene's Basement stores in major metropolitan areas in the Northeast and Midwest and 250 DSW stores located in major metropolitan areas throughout the United States. DSW also
supplies shoes, under supply arrangements, to 339 locations for other non-related retailers in the United States.