The Talbots, Inc. Urges Holders of Outstanding BPW Warrants to Tender into the Exchange Offer by 6:00 pm Today, New York City Time

HINGHAM, Mass.--(Business Wire)--
The Talbots, Inc. (NYSE: TLB) reminds holders of outstanding warrants to acquire
shares of common stock of BPW Acquisition Corp. ("BPW") (NYSE AMEX: BPW) that
Talbots offer to exchange each such warrant for shares of Talbots common stock
or warrants to acquire shares of Talbots common stock (subject to the election
and proration procedures described in the prospectus/offer to exchange) filed
with the Securities and Exchange Commission on March 17, 2010, expires today,
Tuesday, April 6, 2010, at 6:00 p.m., New York City time.

Trudy F. Sullivan, Talbots President and Chief Executive Officer commented, "I
would like to strongly urge all BPW warrant holders who have not already
tendered, to tender into the exchange offer before today's 6 pm deadline in
order to permit this important transaction to proceed. I am aware that the vast
majority of BPW warrant holders have been consistently supportive of this
transaction since the commencement of the exchange offer and I would like to
express my sincere appreciation to all such holders."

About The Talbots, Inc.

The Talbots, Inc. is a leading specialty retailer and direct marketer of women`s
apparel, shoes and accessories. At the end of fiscal 2009, the Company operated
580 Talbots brand stores in 46 states, the District of Columbia, and Canada.
Talbots brand on-line shopping site is located at www.talbots.com.

About BPW Acquisition Corp.

BPW Acquisition Corp. is a special purpose acquisition company formed in 2008
for the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or other similar business
combination with one or more operating businesses.

Cautionary Statement and Certain Risk Factors to Consider

In addition to the information set forth in this press release, you should
carefully consider the risk factors and risks and uncertainties included in each
of Talbots` and BPW`s Annual Report on Form 10-K and Quarterly Reports on Form
10-Q, as well as in this press release below.

This press release contains forward-looking information.These statements may be
identified by such forward-looking terminology as "expect," "achieve," "plan,"
"look," "believe," "anticipate," "outlook," "will," "would," "should,"
"potential," or similar statements or variations of such terms. All of the
information concerning Talbots` or BPW`s outlook, future liquidity, future
financial performance and results, future credit facilities and availability,
future cash flows and cash needs, and other future financial performance or
financial position, as well as assumptions underlying such information,
constitute forward-looking information. Forward looking statements are based on
a series of expectations, assumptions, estimates and projections about BPW
and/or Talbots, are not guarantees of future results or performance, and involve
substantial risks and uncertainty, including assumptions and projections
concerning liquidity, internal plans, regular-price and markdown selling,
operating cash flows, and credit availability for all forward periods. Business
and forward-looking statements involve substantial known and unknown risks and
uncertainties, including the following risks and uncertainties:

* Talbots` and BPW`s ability to satisfy the conditions to consummation of the
contemplated transactions;
* BPW`s and Talbots` ability to obtain the necessary participation of BPW
warrant holders in the exchange of BPW warrants for Talbots stock or warrants;
* Talbots` ability to satisfy the conditions to the $200 million credit
commitment provided by GE or, failing that, to obtain sufficient alternative
financing on a timely basis;
* the availability of proceeds of the BPW trust account following any exercise
by stockholders of their conversion rights and the incurrence of transaction
expenses;
* the continuing material impact of the deterioration in the U.S. economic
environment over the past two years on Talbots` business, continuing operations,
liquidity, financing plans, and financial results, including substantial
negative impact on consumer discretionary spending and consumer confidence,
substantial loss of household wealth and savings, the disruption and significant
tightening in the U.S. credit and lending markets, and potential long-term
unemployment levels;
* Talbots` level of indebtedness and its ability to refinance or otherwise
address its short-term debt maturities, including all Aeon short-term
indebtedness due April 16, 2010, on the terms or in amounts needed to satisfy
maturities and to address its longer-term liquidity and cash needs, as well as
its working capital, strategic initiatives and other cash requirements;
* any lack of sufficiency of available cash flows and other internal cash
resources to satisfy all future operating needs and other Talbots cash
requirements;
* satisfaction of all borrowing conditions under all Aeon credit facilities
including no events of default, accuracy of all representations and warranties,
solvency conditions, absence of material adverse effect or change, and all other
borrowing conditions;
* risk of any default under Talbots` Aeon credit facilities;
* Talbots` ability to achieve its 2009 financial plan for operating results,
working capital, liquidity and cash flows;
* risks associated with Talbots` appointment of and transition to a new
exclusive global merchandise buying agent and that the anticipated benefits and
cost savings from this arrangement may not be realized or may take longer to
realize than expected, and risk that upon any cessation of the relationship for
any reason Talbots would be able to successfully transition to an internal or
other external sourcing function;
* Talbots` ability to continue to purchase merchandise on open account purchase
terms at existing or future expected levels and with extended payment of
accounts payable and risk that suppliers could require earlier or immediate
payment or other security due to any payment concern or timing;
* risks and uncertainties in connection with any need to source merchandise from
alternate vendors;
* any disruption in Talbots` supply of merchandise;
* Talbots` ability to successfully execute, fund, and achieve supply chain
initiatives, anticipated lower inventory levels, cost reductions, and other
initiatives;
* the risk that anticipated benefits from the sale of the J. Jill brand business
may not be realized or may take longer to realize than expected and the risk
that estimated or anticipated costs, charges and liabilities to settle and
complete the transition and exit from and disposal of the J. Jill brand
business, including both retained obligations and contingent risk for assigned
obligations, may materially differ from or be materially greater than
anticipated;
* Talbots` ability to accurately estimate and forecast future regular-price and
markdown selling, operating cash flows and other future financial results and
financial position;
* the success and customer acceptance of Talbots merchandise offerings;
* future store closings and success of and necessary funding for closing
underperforming stores;

* risk of impairment of goodwill and other intangible and long-lived assets;
and

* the risk of continued compliance with NYSE continued listing conditions.

All of the forward-looking statements are as of the date of this press release
only. In each case, actual results may differ materially from such
forward-looking information. Neither Talbots nor BPW can give any assurance that
such expectations or forward-looking statements will prove to be correct. An
occurrence of or any material adverse change in one or more of the risk factors
or risks and uncertainties referred to in this press release or included in
Talbots` and/or BPW`s periodic reports filed with the Securities and Exchange
Commission could materially and adversely affect Talbots` and/or BPW`s
continuing operations and Talbots` and/or BPW`s future financial results, cash
flows, prospects, and liquidity. Except as required by law, neither Talbots nor
BPW undertakes or plans to update or revise any such forward-looking statements
to reflect actual results, changes in plans, assumptions, estimates or
projections, or other circumstances affecting such forward-looking statements
occurring after the date of this press release, even if such results, changes or
circumstances make it clear that any forward-looking information will not be
realized. Any public statements or disclosures by Talbots and BPW following this
press release which modify or impact any of the forward-looking statements
contained in this press release will be deemed to modify or supersede such
statements in this press release.

The Talbots, Inc.
Julie Lorigan, 781-741-7775
Senior Vice President, Investor and Media Relations
or
Berns Communications Group
Melissa Jaffin/Jessica Liddell - Investor/Media Relations
212-994-4660

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