Lisa Harper Named Chairman, Matthew Drapkin Named Lead Director

CITY OF INDUSTRY, Calif. -- (Business Wire)

Hot Topic, Inc. (NASDAQ Global Select Market: HOTT) announced today that Lisa Harper, the company’s chief executive officer, has also been appointed chairman of its board of directors. Bruce Quinnell, the company’s former chairman, will continue to serve as chairman of the company’s audit committee but will not stand for reelection to the board of directors following the completion of his current term, ending in June of 2012.

“We thank Bruce for his dedicated service and many contributions over the last nine years as chairman and thirteen years as a member of our board,” said Ms. Harper.

In connection with Ms. Harper’s appointment, Matthew Drapkin has been appointed lead director. As lead director, Mr. Drapkin will provide guidance to and act as a liaison between Ms. Harper and the company’s independent directors.

“With these changes, we recognize the importance of having an independent lead director. I look forward to working with Matthew and the entire board as we strive to elevate the company to the next level,” added Ms. Harper.

Hot Topic, Inc. is a mall and web based specialty retailer operating the Hot Topic and Torrid concepts. Hot Topic offers music/pop culture-licensed and music/pop culture-influenced apparel, accessories, music and gift items for young men and women principally between the ages of 12 and 22. Torrid offers apparel, lingerie, shoes and accessories designed for various lifestyles for plus-size females principally between the ages of 15 and 29. As of October 29, 2011, the company operated 634 Hot Topic stores in all 50 states, Puerto Rico and Canada, 146 Torrid stores, and Internet stores hottopic.com and torrid.com.

This news release contains forward-looking statements, including changes in business operations and related matters. These statements involve risks and uncertainties, including risks and uncertainties associated with meeting expected results, as well as other risks detailed in the company’s SEC reports including its Annual Report on Form 10-K for the year ended January 29, 2011, and its Quarterly Reports on Form 10-Q. Historical results achieved are not necessarily indicative of the future prospects of the company, and actual results or circumstances could differ materially from the forward-looking statements.

Contacts:

Hot Topic, Inc.
Jim McGinty, CFO
626-839-4681 x2675

Source: Hot Topic, Inc.