DALLAS, Feb 15, 2006 / --- BCBG Max Azria follows one success after another. After presenting a winning Max Azria Collection for Fall 2006 during the New York season, the BCBG Max Azria Group announced that Max Rave LLC, an entity owned by BCBG and Guggenheim Corporate Funding LLC (GCF), has emerged as the successful bidder in the auction for the assets of G+G Retail, Inc.

The winning bid of $35 million cash was approved today in the U.S. Bankruptcy Court. The purchase transaction is expected to be completed on or before February 21, 2006.

GCF provided equity and loan commitments to Max Rave in order to fund the purchase of the company provide fresh inventory for stores and provide operating working capital for operations.

In addition, BCBG committed to provide equity capital to Max Rave. Max Rave will be operated as a separate entity from BCBG and it is anticipated that later in 2006, subject to the approval of BCBG's lenders, it will be merged into BCBG.

G+G Retail currently operates more than 500 stores in the United States and Puerto Rico under the names Rave, Rave Girl and G+G