A.C. Moore Completes a $10.0 Million Private Placement

BERLIN, N.J.--(Business Wire)--
A.C. Moore Arts & Crafts, Inc. (Nasdaq:ACMR) (the "Company") today announced
that the Company completed a $10.0 million private placement pursuant to which
it issued 4,000,000 shares of the Company`s common stock priced at $2.50 per
share. The Company will use the proceeds for general working capital purposes.

Rick A. Lepley, A.C. Moore`s Chief Executive Officer, said, "We are excited to
have completed this transaction, especially in light of current market
conditions. We believe it demonstrates a vote of confidence in A.C. Moore and
our new Nevada store model."

Glenhill Special Opportunities Master Fund LLC, an affiliate of Glenhill Capital
Management, LLC, a shareholder of the Company prior to this transaction, was the
purchaser of the shares.

About A.C. Moore:

A.C. Moore is a specialty retailer of arts, crafts and floral merchandise for a
wide range of customers. The Company currently serves customers through its 133
stores located in the Eastern United States from Maine to Florida and nationally
via its e-commerce site, www.acmoore.com. For more information about A.C. Moore,
visit our website at www.acmoore.com.

This press release contains statements that are forward-looking within the
meaning of applicable federal securities laws and are based on A.C. Moore`s
current expectations and assumptions as of this date.These statements are
subject to a number of risks and uncertainties that could cause actual results
to differ materially from those anticipated.Factors that could cause actual
results to differ from those anticipated include, but are not limited to, the
failure to consummate our identified strategic objectives, the effect of
economic conditions and fuel prices, our ability to implement our business and
operating initiatives to improve sales and profitability, our ability to comply
with the terms of our credit facility, our ability to comply with NASDAQ listing
requirements, changes in the labor market and our ability to hire and retain
associates and members of senior management, the impact of existing or future
government regulation, our ability to increase the number of stores we operate
and the profitability of existing stores, how well we manage our growth,
execution and results of our real estate strategy, competitive pressures,
customer demand and trends in the arts and crafts industry, inventory risks, the
impact of unfavorable weather conditions, disruption in our operations or supply
chain, changes in our relationships with suppliers, difficulties with respect to
new system technologies, difficulties in implementing measures to reduce costs
and expenses and improve margins, supply constraints or difficulties, the
effectiveness of and changes to advertising strategies, the impact of the threat
of terrorist attacks and war and other risks detailed in the Company`s
Securities and Exchange Commission filings.A.C. Moore undertakes no obligation
to update or revise any forward-looking statement whether as the result of new
developments or otherwise.

A.C. Moore Arts & Crafts, Inc.
Rod Shriver, VP and Controller
856-768-4930, ext. 124
or
Gregory FCA Communications, Inc.
Joe Hassett, SVP Investor Relations
610-642-8253

Copyright Business Wire 2009