Exhibit 99

                   CATHERINES STORES CORPORATION AGREES TO BE
                   ACQUIRED BY CHARMING SHOPPES, INCORPORATED

         Catherines Stores Corporation  ("Catherines")  (NASDAQ:CATH)  announced
today that its Board of Directors  has approved a  definitive  merger  agreement
with Charming Shoppes,  Incorporated ("Charming") (NASDAQ:CHRS) whereby Charming
will  acquire all of the common stock of  Catherines  pursuant to a tender offer
and  merger.  Charming  has  agreed  to  submit  a tender  offer to  Catherines'
shareholders  by November  19,  1999 to purchase  their stock for $21 per common
share in cash. J.C. Bradford & Co., Catherines' financial advisor, has delivered
its  opinion  to  Catherines'  Board  of  Directors  that  the  offer is fair to
Catherines' shareholders from a financial point of view.

         Under  the  Agreement,  Catherines  may  furnish  information  and hold
discussions with third parties in appropriate circumstances.  If the acquisition
is not  consummated,  under  certain  conditions,  Catherines  has agreed to pay
Charming a fee of $5.5 million.

         Catherines  Stores  Corporation is a Memphis based  specialty  retailer
selling  large-size  women's apparel in 436 stores in 40 states  operating under
the names Catherine's, Plus Sizes, Added Dimensions and The Answer.

         This statement contains  forward-looking  statements within the meaning
of the Private  Securities  Litigation Reform Act of 1995. Such  forward-looking
statements  are based on  current  expectations  that are  subject  to known and
unknown risks,  uncertainties  and other factors that could cause actual results
to differ materially from those contemplated by the forward-looking  statements.
Catherines does not undertake to publicly  update or revise the  forward-looking
statements even if experience or future changes make it clear that the projected
results expressed or implied therein will not be realized.