Borders Group D.I.P. Amendment Approved

The US Bankruptcy Court approved Borders Group's motion for an order authorizing the Company to enter into a second amendment to its D.I.P. credit agreement. As previously reported, the second amendment will enable the Debtors to commence and consummate a coordinated dual-track sale process for the sale of their businesses by the end of July. The stalking horse bid must be entered on or before July 15, 2011, the auction to be held on July 19, 2011, the sale hearing on or before July 22, 2011, and the closing on or before July 29, 2011.