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Everything But Water Names Sheila Arnold as New President

Everything But Water, LLC, the leading specialty retailer of swim and resort-wear in the U.S., announced today that Sheila Arnold has been named President. Everything But Water is a portfolio company of Bear Growth Capital Partners, an affiliate of Bear Stearns Merchant Banking. Everything But Water, which recently acquired swimwear retailers Just Add Water and Water Water Everywhere, has 72 stores located in 22 states and Puerto Rico and provides an extensive selection of trend-setting swimwear and related clothing and accessories.

"I am excited to be joining Everything But Water and feel that it is a natural fit for me," said Ms. Arnold. "I look forward to working collaboratively with the management team, vendors, Bear Growth Capital Partners and others to further the strategic brand development and national expansion of the company."

"We are thrilled to have someone of Sheila's calibre joining Everything But Water," said Joe Scharfenberger, Managing Director, Bear Growth Capital Partners. "She has an impressive track record of leadership and driving growth with several well-established retail businesses. I am confident that we will come to rely on her disciplined, yet creative, approach to managing this company."

Ms. Arnold most recently served as President and CEO of Bachrach. Prior to that, she served as Senior Vice President, Merchandising, for Spiegel Catalogue, President of Discovery Channel Retail, and Senior Vice President of Merchandising and Marketing at Sunglass Hut International. Ms. Arnold began her career with a substantial tenure at R.H. Macy & Company, rising to become President, Merchandising, Macy's West.

About Everything But Water, LLC:

Everything But Water, LLC is a national 72-store specialty retailer of women's swimwear and related accessories, located in 22 states and Puerto Rico. The Company provides the largest selection of trend-setting swimwear for the contemporary woman. More information about Everything But Water can be found at www.everythingbutwater.com.