Hearing Date: May 31, 2011 at 2:30 p.m.

Eastern Time Cure Objection Deadline: May 25, 2011 at 5:00 p.m. Eastern Time Auction: May 26, 2011 at 10:00 a.m. Eastern Time Sale Objection Deadline (IP and Stalking Horse Bidder): May 31, 2011 at 12:00 p.m. Eastern Time Sale Objection Deadline (Non-Stalking Horse Successful Bidder): TBA

COOLEY LLP 1114 Avenue of the Americas New York, New York 10036 Telephone: (212) 479-6000 Facsimile: (212) 479-6275 Cathy Hershcopf Jeffrey L. Cohen Alex R. Velinsky Attorneys for Debtor and Debtor in Possession UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK ---------------------------------------------------------------------- x : : In re : : METROPARK USA, INC., : : Debtor. : ---------------------------------------------------------------------- x NOTICE OF (I) AUCTION, (II) SALE HEARING AND (III) RELATED OBJECTION DEADLINES PLEASE TAKE NOTICE that on May 12, 2011 Metropark USA, Inc. (the Debtor) filed its Motion of the Debtor for Order (A) Setting (i) Date to Conduct Auction of Debtors Interests in Certain Real Property Leases and Intellectual Property, and (ii) Sale Hearing Date; (B) Approving Bidding Procedures and Terms of Auction; (C) Establishing Cure Amounts; (D) Authorizing Debtor to Enter Into Lease Termination Agreements; (E) Approving and Authorizing Sale of Leases and Intellectual Property to Highest or Otherwise Best Bidder Free and Clear of all Liens, Interests, Claims and Encumbrances Pursuant to 363 of the Bankruptcy Code; (F) Waiving the Requirements of Federal Rule of Bankruptcy Procedure 6004 and Local Rule 60041 and (G) Granting Related Relief (the Bidding Procedures Motion) (Doc. No. 88).

Chapter 11 Case No. 11-22866 (RDD)

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PLEASE TAKE FURTHER NOTICE that the Court entered an Order (A) Setting (1) Date to Conduct Auction of Debtors Interests in Certain Real Property Leases and Intellectual Property, (2) Hearing Date for Approval of Auction and (3) Related Objection Deadlines; (B) Approving Bidding Procedures and Terms of Auction; and (C) Granting Related Relief (the Bidding Procedures Order) (Doc. No. 149). Copies of the Bidding Procedures Order can be viewed on the Courts website at www.ecf.nysb.uscourts.gov or on the Debtors website maintained by Omni Management Group, LLC at www.omnimgt.com/metropark. PLEASE TAKE FURTHER NOTICE that any objections to the cure amounts set forth on Exhibit A to the Bidding Procedures Order must be filed and served so as to be received on or before 5:00 p.m. on May 25, 2011 (Prevailing Eastern Time). PLEASE TAKE FURTHER NOTICE that an auction (the Auction) to sell the Debtors interests in each of its unexpired, unrejected nonresidential leasehold interests (the Leases) and its Intellectual Property (as defined in the Bidding Procedures Motion) shall be held on May 26, 2011 at 10:00 a.m. (Prevailing Eastern Time) in the offices of the Debtors bankruptcy counsel, Cooley LLP, 1114 Avenue of the Americas, New York, NY 10036. PLEASE TAKE FURTHER NOTICE that any objections to the sale of the Debtors Intellectual Property or to the assumption and assignment of any Lease to a Stalking Horse Bidder (as that term is defined in the Bidding Procedures Order) (with the exception of objections based upon the amount of cure) must be filed and served so as to be received on or before 12:00 p.m. on May 31, 2011 (Prevailing Eastern Time). PLEASE TAKE FURTHER NOTICE that a hearing (the Sale Hearing) for approval of the sale of Debtors Intellectual Property and/or the assumption and assignment of any Lease to a Stalking Horse Bidder will be held before the Honorable Robert D. Drain, United States

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Bankruptcy Judge, in Room 118 of the Bankruptcy Court, 300 Quarropas Street, White Plains, New York 10601, on May 31, 2011 at 2:30 p.m. (Prevailing Eastern Time). PLEASE TAKE FURTHER NOTICE that any objections to the assumption and assignment of Leases to parties other than Stalking Horse Bidders (with the exception of objections based upon the amount of cure) must be filed and served by a date and time to be set by the Court at the Sale Hearing for a date and time not earlier than June 6, 2011 at 8:00 a.m. (Prevailing Eastern Time). PLEASE TAKE FURTHER NOTICE that any responses or objections contemplated in the Bidding Procedures Order and this Notice must: (1) be in writing; (2) conform to the Federal Rules of Bankruptcy Procedure and the Local Rules of the United States Bankruptcy Court for the Southern District of New York; (3) be filed with the Clerk of the Bankruptcy Court for the Southern District of New York; and (4) be served, with a copy to chambers, so as to be received on or before the applicable objection deadline by: (i) counsel for the Debtor, Cooley LLP, 1114 Avenue of the Americas, New York, New York 10036, Attn: Cathy Hershcopf, Esq. and Jeffrey L. Cohen, Esq.; (ii) Metropark USA, Inc., 5750 Grace Place, Los Angeles, California 90022, Attn: Rick Hicks; (iii) counsel to the Official Committee of Unsecured Creditors; (iv) counsel to Wells Fargo Bank, N.A., the Prepetition Lender: Riemer & Braunstein, LLP, Three Center Plaza, Boston, Massachusetts 02108, Attn: Donald E. Rothman, Esq.; (v) counsel to the Second Lien Agent, Solomon Ward Seidenwurm & Smith, LLP, 401 B Street, Ste. 1200, San Diego, CA 32101 (Attn: Michael D. Breslauer, Esq.); (vi) counsel to Cotton On, Kelley Drye & Warren LLP, 101 Park Avenue, New York, New York 10178, Attn: Robert L. LeHane, Esq.; (vi) counsel to Perry Ellis, Greenberg Traurig LLP, 200 Park Avenue, New York, New York 10166, Attn: Allen G. Kadish, Esq; and (vii) the Office of the United States Trustee for the Southern District of New York, 33 Whitehall Street, 21st Floor, New York, NY 10004 (Attn: Susan Golden, Esq.).

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Dated: May 24, 2011 New York, New York

By:

/s/ Cathy Hershcopf Cathy Hershcopf

COOLEY LLP 1114 Avenue of the Americas New York, New York 10036 Telephone: (212) 479-6000 Facsimile: (212) 479-6275 Cathy Hershcopf Jeffrey L. Cohen Alex R. Velinsky Attorneys for Debtor and Debtor in Possession

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