NEW YORK, Aug 25, 2006 / --- BCBG Max Azria Group, which currently owns 30% of Max Rave, has announced today that it has acquired the remaining 70% equity interest from Guggenheim Corporate Funding.

As announced last February, Max Rave, which was being operated as a separate entity, was expected to merge into BCBG within 2006. With the completion of Max Rave’s acquisition, it will become a subsidiary of the BCBG Max Azria Group.

The completion of this acquisition is an important step in BCBG's strategy of expanding brands and channels of distribution.

BCBG has modified and expanded its credit facilities to facilitate this transaction and provide future working capital for the combined businesses.

Max Rave currently operates 488 stores in the United States and Puerto Rico under the names Rave, Rave Girl and G+G. The majority of these stores and related selling materials will be rebranded with the Max Rave name later this year.