Istithmar revises offer to acquire Barneys New York for US$ 900 million

Istithmar PJSC, a leading private equity and alternative investment house headquartered in Dubai, announced today that it has revised its offer to acquire Barneys New York, the luxury specialty retailer, from Jones Apparel Group Inc. at a purchase price of USD 900 million and under competitive terms in the share purchase agreement.  If this offer is not accepted Istithmar is entitled to our break-up fee of USD 22.7 million.