Five Below, Inc. Announces Closing of Its Initial Public Offering and Exercise in Full of Option to Purchase Additional Shares

PHILADELPHIA, July 24, 2012 (GLOBE NEWSWIRE) -- Five Below, Inc. (Nasdaq:FIVE) announced today the closing of its initial public offering of 9,615,384 shares of its common stock at a price to the public of $17.00 per share. In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 1,442,308 shares of common stock from certain selling shareholders to cover over-allotments. As a result, the total initial public offering size was 11,057,692 shares. Five Below will not receive any proceeds from the sale of shares by the selling shareholders.

The offering was made only by means of a prospectus, copies of which may be obtained from:

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission on July 18, 2012. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Five Below

Five Below is a rapidly growing specialty value retailer offering a broad range of trend-right, high-quality merchandise targeted at the teen and pre-teen customer. Five Below offers a dynamic, edited assortment of exciting products, all priced at $5 and below, including select brands and licensed merchandise across a number of category worlds – Style, Room, Sports, Media, Crafts, Party, Candy and Seasonal. Five Below is headquartered in Philadelphia, Pennsylvania.

CONTACT: Investor Contact:
         ICR, Inc.
         Farah Soi / Joseph Teklits
         203-682-8200
         Farah.soi@icrinc.com