New York & Company Announces Pricing of its Initial Public Offering

New York & Company, Inc. (NYSE: NWY) today announced its initial public offering of 10,000,000 shares of common stock has been priced at $17.00 per share. New York & Company is offering 6,666,667 shares of common stock and selling stockholders offered the remaining 3,333,333 shares. In addition, the selling stockholders have granted the underwriters an option to purchase up to an additional 1,500,000 shares at the initial public offering price to cover over-allotments. The Company will not receive any of the proceeds from the sales of shares by the selling stockholders. New York & Company common stock will be listed on the New York Stock Exchange on Thursday, October 7, 2004 under the symbol “NWY”.

Bear, Stearns & Co. Inc. and JPMorgan are serving as joint book runners with Wachovia Securities, Banc of America Securities LLC and Piper Jaffray serving as co-managers for the offering.