Exhibit 99.1

                  Linens 'n Things Updates Outlook;
               Company Exploring Strategic Alternatives

    CLIFTON, N.J.--(BUSINESS WIRE)--Sept. 22, 2005--Linens 'n Things,
Inc. (NYSE:LIN) announced today that it is updating its July 20, 2005
outlook, at which time it provided earnings outlook information for
the 2005 second half only. Based on sales trends to date in the third
quarter, the Company currently expects net earnings to approximately
breakeven for the third quarter ending October 1, 2005. Comparable
same store sales are estimated to decline by approximately 10% in the
third quarter. Although the Company had not provided earnings guidance
for the third quarter, the consensus estimate of fully diluted
earnings per share for the third quarter is $0.29. The Company stated
that it currently plans to provide its earnings outlook for the 2005
fourth quarter at its next scheduled earnings conference call.
    "While we expected our performance for this quarter to be
difficult, we had not anticipated the significant declines in guest
traffic that occurred," commented Norman Axelrod, Chairman and Chief
Executive Officer. "Response to our Back-to-School assortments proved
disappointing, as our fashion content was too narrow in appeal and we
did not make the kind of progress that we expected in strengthening
our value proposition with our guests."
    "The addition of Jane Gilmartin as Chief Merchandising Officer in
July has greatly strengthened our merchandising team and she has
already begun to have an impact on improving our merchandise
assortments with a focus on the holiday selling season," continued
Axelrod. "In addition, we are excited about the launch of the Nate
Berkus Collection offered exclusively at Linens 'n Things which
although early has been well-received by our guests."
    "While our business has not performed well during this quarter,
our balance sheet remains strong, leaving us well-positioned as we
head into the balance of this year," commented William Giles,
Executive Vice President and Chief Financial Officer.
    The Company also announced that its Board of Directors is
exploring strategic alternatives to enhance shareholder value,
including a possible sale of the Company. The Company said there can
be no assurance that any transaction will occur or, if one is
undertaken, its terms or timing. The Company has retained Credit
Suisse First Boston LLC as its financial advisor to assist in this
process. The Company stated that it does not expect to update its
progress or disclose developments with respect to the exploration of
strategic alternatives unless the Board of Directors has approved a
definitive transaction.
    The Company will report its third quarter results on October 19th
and will host a conference call at 9:00 a.m. ET on the same day. The
conference call will be broadcast on the Company's website at
www.lnt.com linking through the "Investor Relations" page. A replay of
this call can be accessed at the same website address.
    Linens 'n Things, with 2004 sales of $2.7 billion, is one of the
leading, national large format retailers of home textiles, housewares
and home accessories. As of July 2, 2005 the Company was operating 516
stores in 45 states and five provinces across the United States and
Canada. More information about Linens 'n Things can be found online at
www.lnt.com.

    This press release contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995. The
statements are made a number of times and may be identified by such
forward-looking terminology as "expect," "believe," "may," "intend,"
"plan," "target," "outlook," "comfortable with" and similar terms or
variations of such terms. All of our information and statements
regarding our outlook for the future including future revenues,
comparable sales performance, earnings and other future financial
condition, impact, results and performance, constitutes
forward-looking statements. All our forward-looking statements are
based on our current expectations, assumptions, estimates and
projections about our Company and involve certain significant risks
and uncertainties, including the Company's decisions concerning and
the substantial risks and uncertainties associated with the strategic
alternatives being explored which could include a potential sale of
the Company, as well as the substantial risks and uncertainties
associated with whether or not any transaction will ultimately be
executed or consummated; levels of sales; store traffic; the negative
selling trends experienced to date and the risk and uncertainty of a
continuation of such negative selling trends; the unpredictability of
the success of our important fourth quarter holiday selling season and
the substantial contribution of our fourth quarter to our full year
sales and earnings; unusual weather patterns; acceptance of our
product offerings and fashions and our ability to anticipate and
successfully respond to changing consumer tastes and preferences; our
ability to anticipate and control our operating and selling expenses;
the success of our new business concepts, seasonal concepts and new
brands; the performance of our new stores; substantial competitive
pressures from other retailers; availability of suitable future store
locations; schedule of store expansion and of planned closings; the
impact of the bankruptcies and consolidations in our industry; the
impact on consumer spending as a result of the slower consumer
economy, higher gasoline prices, and a highly promotional retail
environment; any significant variations between actual amounts and the
amounts estimated for those matters identified as our critical
accounting estimates as well as other significant accounting estimates
made in the preparation of our financial statements; and our ability
to successfully implement our strategic initiatives.
    If these or other risks or uncertainties materialize, or if our
estimates or underlying assumptions prove inaccurate, actual results
could differ materially from any future results, express or implied by
our forward-looking statements. These and other important risk factors
are included in the "Risk Factors" section of the Company's
Registration Statement on Form S-3 as filed with the Securities and
Exchange Commission on June 18, 2002 and are contained in our reports
filed with the Securities and Exchange Commission, including our
Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. You
are urged to consider all such factors. In light of the substantial
uncertainty inherent in such forward-looking statements, you should
not consider their inclusion to be a representation that such
forward-looking matters will be achieved. The Company assumes no
obligation for updating any such forward-looking statements to reflect
actual results, changes in assumptions or changes in other factors
affecting such forward-looking statements, even if such results or
changes make it clear that any projected results or other
forward-looking statements, will not be realized.

    Our outlook and other forward-looking statements are as of the
date of this release only.

    CONTACT: Linens 'n Things, Inc.
             William T. Giles, 973-815-2929