Ramius Value and Opportunity Fund today received the following
expression of support from Manley Asset Management, L.P., a well
respected investment management firm:
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Dear Peter,
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I am writing you to inform you that Manley Asset Management, L.P.
supports the Ramius Board proposal for CPI Corp (Gold Proxy).
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As long-term investors, we believe a more independent and balanced
board with significant retail experience will best serve the company
and its shareholders.
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Currently, Manley Asset Management controls 237,000 shares of CPI
Corp.
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Please don’t hesitate to contact me with any questions or comments.
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Sincerely,
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Lawrence Manley
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J. Lawrence Manley, Jr., CFA
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Manley Asset Management, L.P.
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Commenting on the above letter, Peter Feld, a Managing Director at
Ramius and a current board member of CPI stated, “We are pleased that
Manley Asset Management has recognized the real issues we have brought
to light during this election contest and has decided to fully support
the Ramius candidates. My re-election and the election of Joe Izganics
to the Board of CPI will provide the significant retail experience and
truly independent shareholder representation we believe is needed on the
CPI Board. We gratefully welcome Manley’s public support and the support
of all shareholders who have already voted on the GOLD proxy card.”
About Ramius LLC
Ramius LLC is a registered investment advisor that manages assets in a
variety of alternative investment strategies. Ramius LLC is
headquartered in New York with offices located in London, Tokyo, Hong
Kong, Munich, and Luxembourg.
Ramius LLC
Peter Feld, 212-201-4878
