Press Release

eFashionSolutions Secures $17.4 Million Investment and Names Industry Veteran to Chairman of the Board of Directors; New Investor ABS Capital Partners Attracted to Leading E-commerce Solution for Fashion Brands

SECAUCUS, N.J. -- eFashionSolutions, LLC, a leading provider of comprehensive outsourced e-commerce systems and services to the fashion apparel and accessories as well as entertainment industries, today announced that it had completed a $17.4 million equity investment. Also today, the Company announced that Bernie Brennan, a retail industry executive with 30 years of experience in retail merchandising and related software technology, has been named Chairman of the Board of Directors. The investment was led by ABS Capital Partners, a leading private equity firm focused on investing in established and profitable growth companies, and their Limited Partner, Piper Jaffray PEP II. Existing investors Seacoast Capital Partners and Mr. Brennan also participated. Phil Clough and Ralph Terkowitz, General Partners at ABS Capital Partners will join eFashionSolutions' Board of Directors as a result of the investment.

Since 2002, eFashionSolutions has realized a compounded annual revenue growth rate of over 81%. The financing will be used to fund the Company's continued rapid growth by increasing investment in areas such as its information technology infrastructure, e-commerce platform and related software development. Additionally, eFashionSolutions will expand their international capabilities and advanced business intelligence tools, providing clients with relevant data to improve both their online and offline business performance.

"eFashionSolutions is in an exciting space that is rapidly growing as more fashion brands recognize how an online presence leverages their brand equity while dramatically increasing their sales and margins. We look forward to continuing to expand the solutions we offer our customers and working with ABS Capital Partners and our new Chairman to take our Company to the next level," said Ed Foy, Jr.,CEO of eFashionSolutions.

"I am pleased to continue to support Ed Foy, Jr. and his team in building a unique value proposition for current and future clients of eFashionSolutions. The Company is uniquely positioned to continue its aggressive growth with its comprehensive and unique platform of technology and services," said Mr. Brennan, now serving as Chairman and who also has served as the Chairman of the National Retail Federation among other Chief Executive and Chairman positions.

Apparel consistently ranks among the top product categories sold via the Internet and allows brands to reach a global customer base directly. According to Apparel Magazine, by 2007, the Internet will influence 30% of all offline retail purchasing, creating a clear mandate for manufacturers and retailers to view the web as a critical marketing medium, as well as a transactional channel. eFashionSolutions' core solutions support every facet of the online retailing experience from technical platforms, interactive services and marketing to fulfillment, digital photography and customer care. eFashionSolutions' focus and domain expertise in the fashion industry has led to strong execution of its clients' e-commerce strategies. The Company's clients include leading brands such as Baby Phat, DKNY, jLo, Judith Leiber, Phat Farm, Rafe, Rocawear and XOXO as well as enabling commerce for online media properties such as Billboard and entertainment properties including Elvis Presley Enterprises.

"eFashionSolutions has demonstrated tremendous growth in the time we have gotten to know the Company and it is clear that they are offering a solution that is both financially and strategically significant to their customers," said Ralph Terkowitz, General Partner at ABS Capital. "We believe the Company is a clear market leader with a bright future."

eFashionSolutions has deployed over 25 client e-commerce sites representing approximately 250 brand licensees and servicing customers in 120 countries. The network of sites generates over 38 million visitors annually providing proven value-added marketing services to their clients.

About eFashionSolutions - eFashionSolutions, LLC (www.efashionsolutions.com) is a comprehensive outsourced e-commerce systems and service provider that has been successful in creating profitable flagship web-stores for global consumers including DKNY, jLo by Jennifer Lopez, Phat Farm, Baby Phat, Rocawear, House of Dereon by Beyonce, ShopElvis (Elvis Presley Enterprises), Judith Leiber and others. Launched in 2000 by the husband and wife team of Edward Foy, Jr. and Jennifer Silano Foy, eFashionSolutions is now a 150-employee strong operation based in Secaucus, NJ.