Borders Group Names Richard Chilcott Senior Vice President, Paperchase U.S

Business Wire, Jan 25, 2005

ANN ARBOR, Mich. -- Borders Group Inc. (NYSE:BGP), a $3.7 billion global retailer of books, music and movies with more than 1,200 Borders and Waldenbooks stores worldwide, has named Richard Chilcott senior vice president, Paperchase U.S.

In July 2004, Borders Group announced that it had acquired Paperchase, a 70-store stationery retailer headquartered in the U.K. The U.K. Paperchase management team, led by Managing Director Timothy Melgund, remains in place to continue growth of the business overseas and is now complemented by a U.S. management team headed by Chilcott, who will be responsible for execution of the Paperchase brand and the gifts and stationery business on behalf of Borders Group for stores in the U.S.

Chilcott has over two decades of retail experience. Prior to joining Borders Group, he served as vice president and general manager North America, for Cole Haan, a Nike, Inc. subsidiary where Chilcott has worked since 1997. From 1980 through 1997, he held a variety of management roles with Nordstrom, Inc., most recently serving as General Manager of Los Angeles area stores.

"Richard's results orientation, leadership capability and strong retail expertise make him a great fit to take the highly successful Paperchase concept forward in the U.S.," said Rick Vanzura, president of specialty retail and corporate information technology for Borders Group.

"The strength of the Borders brand combined with the prospect of introducing Paperchase, a respected brand from the U.K., to customers in the U.S. is a unique and exciting business opportunity that I look forward to taking on in partnership with the accomplished Borders Group team," Chilcott said.

About Borders Group

Borders Group Inc. is a leading global retailer of books, music and movies with annual revenues of $3.7 billion. Headquartered in Ann Arbor, Mich., the company employs approximately 32,000 people worldwide. Borders Group operates over 460 Borders superstores and approximately 700 Waldenbooks stores throughout the U.S. In addition, the company operates 42 Borders superstores outside the U.S., as well as 36 Books etc. stores located throughout Great Britain. Borders Group recently acquired Paperchase Products Limited, a leading stationery retailer in the U.K. with over 70 locations. Teamed with Amazon.com, online shopping is available through Borders.com (www.borders.com) and Waldenbooks.com (www.waldenbooks.com). More detailed information on the company is available at www.bordersgroupinc.com. Information regarding Borders store locations, in-store events and title reservation is available through www.bordersstores.com.