Norman Axelrod to Exit as Chairman and CEO of Linens 'n Things, Inc. upon Completion of Apollo Acquisition

"It is with profound gratitude after serving as CEO for almost 18years that I will turn over the reins upon completion of our merger. Iam proud and happy to have been part of such an outstanding company.I'm personally humbled by the dedication and loyalty provided me by myfellow associates and I leave confident that Linens 'n Things willcontinue to experience many more successes in the future," says NormanAxelrod.

When Mr. Axelrod became CEO of Linens 'n Things in April 1988, theCompany had 144 stores and annual sales of $183 million. Currently,Linens 'n Things is the second largest specialty retailer of hometextiles, housewares and home accessories in North America, operating542 stores in 47 U.S. states and six Canadian provinces. Linens 'nThings ended its most recent fiscal year with annual sales of $2.7billion.

Upon completion of the acquisition, Apollo will name Robert J.DiNicola, 58, as Chairman and Chief Executive Officer of Linens 'nThings. Mr. DiNicola is a 34-year veteran executive in the retailingindustry and is currently the Executive Chairman of General NutritionCenters, Inc. Previously, Mr. DiNicola was Chief Executive Officer ofZale Corporation, one of the nation's leading specialty jewelryretailers. Prior to Zale, Mr. DiNicola was the Chief Executive Officerof the Bon Marche division of Federated Department Stores.

Mr. DiNicola stated, "We would like to thank Norman for histremendous contributions in building Linens 'n Things presence overthe past 18 years. Under his leadership, the Company has evolved intoa highly regarded brand and has established itself as one of the keyplayers in the home furnishings industry. We wish Norman all the bestin his future endeavors." Mr. DiNicola added, "I look forward toworking with the entire Team as we take on the challenges that lieahead for Linens 'n Things. The future is very bright as we build uponthe solid foundation in place and take the company to the next level."

Linens 'n Things, with 2005 sales of $2.7 billion, is one of theleading, national large format retailers of home textiles, housewaresand home accessories. As of December 31, 2005, the Company wasoperating 542 stores in 47 states and six provinces across the UnitedStates and Canada. More information about Linens 'n Things can befound online at www.lnt.com.