Monday, September 18, 2006

Red Mountain Capital Discloses 6.2% Stake in Cost Plus (CPWM), To Maintain Dialogue with Management

In a 13D filing on Cost Plus Inc. (Nasdaq: CPWM) Red Mountain Capital Partners LLC disclosed a 6.2% stake (1.36 million shares) in the company.

Red Mountain said it has met with the management of Cost Plus and expects to maintain a dialogue with management regarding, among other things, Cost Plus’ operations, strategic direction, capital structure and corporate governance and Red Mountain’s expectation that management will pursue appropriate measures to enhance shareholder value. In addition, Red Mountain said it may communicate with other persons regarding Cost Plus, including, without limitation, the board of directors of Cost Plus, other shareholders of Cost Plus and potential strategic or financing partners.

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