Contact: Allison Capaldi / Indy Bishop Moosejaw 248.246.4015 FOR IMMEDIATE RELEASE Parallel Investment Partners Sponsors Recapitalization Of Moosejaw DALLAS – Jan. 31, 2007 – Parallel Investment Partners (Parallel), a leading private equity firm investing in privately held, lower middle market growth companies, has completed the recapitalization of Moosejaw Mountaineering and Backcountry Travel, Inc. (Moosejaw), a leading multi-channel retailer of premium quality outdoor apparel and equipment. Moosejaw currently serves its customers through six retail stores in Michigan and Chicago, a significant online business through Web sites including www.moosejaw.com, www.thejaw.com, and www.thalowdown.com, as well as seasonal catalogs. Moosejaw provides premium quality outdoor apparel and equipment from leading manufacturers including The North Face, Arcteryx, Patagonia, Burton, Roxy, Black Diamond and under its own Moosejaw brand. The company serves a diverse customer base including serious outdoor enthusiasts, active individuals pursuing an outdoor lifestyle, and high-school and college students who are passionate about the Moosejaw brand and culture. Moosejaw was founded in 1992 by Robert Wolfe who was subsequently joined by his siblings, Jeffrey and Julie. Following the transaction, the Wolfes will maintain a significant ownership stake in the company and continue to lead Moosejaw in their current senior management roles. “Moosejaw is well-positioned for continued strong growth because it’s selling into a multi-billion dollar market, it has established an exciting and differentiated brand in the category and because Moosejaw’s founders will continue to lead the company going forward,” said Parallel Investment Partners Managing Director Jed Johnson. “The company is one of the fastest growing retailers in the outdoor apparel and equipment market, and we are very excited about the opportunity to grow Moosejaw by combining the Wolfes’ passion for the company with Parallel’s substantial specialty retail expertise.” “Moosejaw is in the midst of significant double-digit growth, and there is a huge upside opportunity. Our new partnership with Parallel will allow us to expand the online, catalog, retail and private-label businesses more efficiently and more effectively,” said Moosejaw founder Robert Wolfe. “Our goal at Moosejaw is to sell the best gear and outerwear in the world and have as much fun as possible while we do it. Our bizarre and chaotic marketing strategy has created a unique relationship with our customers. We call it Moosejaw Madness. Our culture alongside Parallel’s retail and consumer expertise will be amazing for Moosejaw.” The recapitalization closed in January 2007. Financial terms were not disclosed. Moosejaw was advised by Financo, Inc., a New York-based investment banking firm specializing in mergers, acquisitions, divestitures, restructurings, consulting and other financial advisory services for retailing, apparel, consumer product and other merchandising companies. About Parallel Investment Partners Parallel Investment Partners is a leading private equity firm investing in privately held, lower middle market growth companies. Parallel currently manages approximately $400 million in institutional capital commitments. Parallel's mission is to generate superior risk-adjusted returns through creating strong partnerships with management and emphasizing value creation through growth. Parallel seeks to partner with company owners and managers who want a financial partner that brings the experience, resources and capital to help them achieve their goals. Parallel has invested in more than 20 entrepreneurially led growth companies since its inception in 1999. Parallel is headquartered in Dallas, Texas, and has an office in Los Angeles, Calif. For more information on Parallel, please visit www.parallelip.com. Moosejaw Mountaineering, Inc. is one of the nation’s leading outdoor adventure retailers, offering the finest outdoor gear and apparel as well as some totally unnecessary nonsense guaranteed to make any day better. Based in Madison Heights, Mich., the company operates six retail locations in Michigan and Chicago, a mail order catalog and six websites, Moosejaw.com, theJaw.com, thaLowdown.com, Moosejawrewards.com, Adventurewatches.com, and CampMoosejaw.com.

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