D. E. Shaw Group’s Direct Capital Unit Provides Financing to
Spencer Gifts Holdings, Inc.
HOUSTON, TX, August 22, 2007— Laminar Direct Capital L.P. (“LDC”), the U.S. direct capital unit of the
D. E. Shaw group, announced today that it has provided financing to Spencer Gifts Holdings, Inc.
(“Spencer Gifts”). The financing is in the form of senior secured term notes and was made in
connection with the recent acquisition of Spencer Gifts by an affiliate of ACON Investments, LLC.
“We are delighted to complete this transaction after working with our colleagues at ACON for many
months,” said Robert T. Ladd, president of LDC. “The D. E. Shaw group believes its ability to work
flexibly and to commit capital to financial sponsors is one of the keys to our success in our direct
Spencer Gifts, founded in 1947, is one of the oldest national specialty retailers. The company is
composed of two distinct store concepts: Spencer’s and Spirit Halloween. Spencer’s, a mall-based
retailer offering room décor, apparel, accessories, and gag gifts, operates over 600 stores in the United
States, Canada, and Puerto Rico. Spirit Halloween, the nation’s largest chain of Halloween-only stores,
operates over 500 seasonal superstores and offers costumes, décor, makeup, accessories, and home
About the D. E. Shaw Group
The D. E. Shaw group is a global investment and technology development firm with more than 1,200
employees; approximately $35 billion in aggregate investment capital; and offices in North America,
Europe, and Asia. Since its organization in 1988, the firm has earned an international reputation for
financial innovation, technological leadership, and an extraordinarily distinguished staff.
About ACON Investments, LLC
ACON Investments, LLC (“ACON”) is a Washington, D.C.-based private equity investment firm that
manages private equity funds and special purpose partnerships in the United States, Europe, and Latin
America. Founded in 1996, ACON and its principa