Exhibit 99.2



FOR IMMEDIATE RELEASE

Contact:  Robert J. Small
AAH HOLDINGS
(617) 227-0050

Contact:  Gregg A. Melnick
PARTY CITY CORPORATION
(973) 453-8780


 BERKSHIRE PARTNERS AND WESTON PRESIDIO AGREE TO ACQUIRE PARTY CITY CORPORATION


Boston, MA and Rockaway, NJ - September 27, 2005 - Berkshire Partners LLC and
Weston Presidio, through their holding company AAH Holdings Corporation,
announced today that they have entered into a definitive agreement to acquire
Party City Corporation (the "Company") (NASDAQ: PCTY).

Under the terms of the agreement, Party City shareholders will receive $17.50
per share in cash for each share of common stock outstanding for total
consideration of approximately $360 million, which includes the cash-out of
employee stock options and warrants. Certain shareholders of Party City,
beneficially owning over 27% of its common stock, have entered into voting
agreements in support of the transaction.

Party City's Board of Directors unanimously approved the transaction and has
recommended to Party City's stockholders that they approve the transaction.

Headquartered in Rockaway, New Jersey, Party City is America's largest party
goods chain. Founded in 1986, the Company has grown from a one-stop party store
to a leading retailer of party supplies with 249 company-owned stores and 250
franchise locations, representing one third of all party superstore locations in
the U.S. For the fiscal year ended July 2, 2005, Party City reported revenues of
approximately $500 million, and total chain-wide net sales of approximately $1.0
billion.

"Over the past 20 years, Party City has grown to become the largest retailer in
the party goods industry. We are encouraged and excited by the enthusiasm that
Berkshire Partners and Weston Presidio have shown for our business," said
Michael Tennenbaum, Chairman of the Executive Committee of Party City. "We
believe that this transaction will create significant opportunities for Party
City's customers, employees and franchisees that we could not have capitalized
on as a stand-alone company. At the same time the shareholders will realize an
attractive selling price."

"The party retailing industry is a durable and growing business with tremendous
potential," said Robert J. Small, Managing Director of Berkshire Partners and
Chairman, AAH Holdings. "We have been impressed with Party City and the
Company's ability to

                                                                    Exhibit 99.2


grow and succeed by providing a broad selection of non-seasonal and seasonal
party merchandise. We are excited about Party City and its extensive national
network of company-owned and franchised stores."

The acquisition, which is subject to receipt of debt financing, as well as
approval by Party City's shareholders and other customary conditions, including
regulatory approvals, is expected to close by the end of 2005 or beginning of
2006. AAH Holdings, which also owns Amscan, Inc., plans to finance the
acquisition through a combination of equity contributed by affiliates of
Berkshire Partners and Weston Presidio, and debt financing provided, directly or
through certain affiliates, by Goldman, Sachs & Co. and Banc of America
Securities. Goldman Sachs and Banc of America directly or through certain
affiliates, have signed a commitment letter containing customary conditions
precedent for the bank financing required for the acquisition. Affiliates of
each of Berkshire Partners and Weston Presidio have provided a commitment letter
with respect to the equity financing, subject to certain customary conditions.
AAH Holdings does not intend to redeem or seek consent for waiver or amendments
for the 8.75% Senior Subordinated Notes currently issued by one of its
subsidiaries.

Goldman Sachs acted as financial advisor to AAH Holdings on the transaction.
Ropes & Gray LLP served as legal advisor to AAH Holdings. Credit Suisse First
Boston LLC acted as exclusive financial advisor to Party City in connection with
this transaction. Latham & Watkins LLP served as legal advisor to Party City.

Each of Party City and Amscan Holdings, Inc., a wholly-owned subsidiary of AAH
Holdings, will file a Form 8-K with the Securities and Exchange Commission (the
"SEC") regarding the transaction and will attach to the filing a copy of the
definitive agreement. All parties desiring details regarding the conditions of
this transaction are urged to review the contents of the definitive agreement on
the SEC's website at www.sec.gov.

Party City plans to file with the SEC and mail to its stockholders a Proxy
Statement in connection with the transaction. The Proxy Statement will contain
important information about Party City, the transaction and related matters.
Investors and security holders are urged to read the Proxy Statement carefully
when it is available. Investors and security holders will be able to obtain free
copies of the Proxy Statement and other documents filed with the SEC by Party
City through the web site maintained by the SEC at www.sec.gov. In addition,
investors and security holders will be able to obtain free copies of the Proxy
Statement from Party City by accessing the "Investor Relations" section of Party
City's website www.partycity.com. Party City and its directors and executive
officers may be deemed to be participants in the solicitation of proxies in
respect of the transactions contemplated by the merger agreement. Information
regarding Party City's directors and executive officers is contained in Party
City's Annual Report on Form 10-K for the year ended July 2, 2005 and its proxy
statement dated November 11, 2004, which are filed with the SEC.

Statements about the expected timing, completion and effects of the proposed
merger and all other statements in this release, other than historical facts,
constitute forward-looking

                                                                    Exhibit 99.2


statements within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Readers are cautioned not to place
undue reliance on these forward-looking statements and any such forward-looking
statements are qualified in their entirety by reference to the following
cautionary statements. All forward-looking statements speak only as of the date
hereof and are based on current expectations and involve a number of
assumptions, risks and uncertainties that could cause the actual results to
differ materially from such forward-looking statements. Party City may not be
able to complete the proposed merger on the terms described above or other
acceptable terms or at all because of a number of factors, including the failure
to obtain shareholder approval, the failure of the purchaser to obtain financing
or the failure to satisfy the other closing conditions. These factors and other
factors that may affect the business or financial results of Party City are
described in Party City's filings with the SEC, including in its annual report
on Form 10-K for the fiscal year ended July 2, 2005.

ABOUT PARTY CITY: Party City began in 1986 as a one-stop party supply store in
Hanover, New Jersey, created expressly to take the hassle out of party planning.
Today, Party City is Amerca's largest party goods retailer, with 249
company-owned stores and 250 franchise locations employing 4,500 people in the
United States and Puerto Rico. Additional information may be found at
www.partycity.com.

ABOUT BERKSHIRE PARTNERS: Berkshire Partners has invested in mid-sized private
companies for the past twenty years through six investment funds with aggregate
capital commitments of approximately $3.5 billion. The firm's investment
strategy is to seek companies that have strong growth prospects and to partner
with talented management teams who are interested in being owners of the
companies they operate. Berkshire has developed specific industry experience in
several areas including retailing and related services, consumer products,
industrial manufacturing, transportation, communications, and business services.
Berkshire has been an investor in over 80 operating companies with more than
$13.0 billion of acquisition value and combined revenues in excess of $17.0
billion. Additional information may be found at www.berkshirepartners.com.

ABOUT WESTON PRESIDIO: Weston Presidio, founded in 1991, is a private equity
firm with over $3.3 billion under management to invest through growth equity
investments, management buyouts and recapitalizations. With offices in Boston,
San Francisco, and Menlo Park, Weston Presidio has worked side by side with
world-class management teams throughout North America. Weston Presidio has a
multi-industry investment strategy that has allowed the firm to partner with
over 300 portfolio companies in a variety of industries including consumer
products and retail, manufacturing and industrial, media, service, and
technology. For more information, visit www.westonpresidio.com.

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