EXHIBIT 99 FOR IMMEDIATE RELEASE - --------------------- Contact: George Sard/Debbie Miller Sard Verbinnen & Co 212/687-8080 J. CREW ANNOUNCES PLANS TO PHASE OUT CLIFFORD & WILLS _______________________________________________ NEW YORK, March 3, 1999 - J. Crew Group, Inc. announced today that it plans to phase out its Clifford & Wills operations over a two-year period. Clifford & Wills sells its CW brand women's fashion apparel and accessories through a national mail-order catalog and seven factory-outlet stores. "This decision is consistent with our efforts to continue to focus the company's management and financial resources on growing the J. Crew brand," said Emily Woods, co-founder and chairman of J. Crew. "Clifford & Wills' employees have done an outstanding job and we appreciate their dedication. We hope to find jobs for many of these employees at J. Crew and through the C&W transition." Clifford & Wills had annual revenues of $74 million for the year ended January 30, 1999. J. Crew Group, Inc. is a leading retailer of men's and women's apparel, shoes and accessories. # # #