1115 Broadway, New
York , NY 10010
FOR IMMEDIATE RELEASE:
Movie
Star, Inc. Acquiring Sidney Bernstein & Son Lingerie, Inc.
New York, New York (July 29,
2004)--- Movie Star, Inc. (AMEX:MSI) announced
today that it has signed an agreement to acquire the inventory and certain
other assets of Sidney Bernstein &
Son Lingerie, Inc., a New York-based manufacturer and importer of ladies
lingerie. In connection with the
acquisition, Movie Star will establish a new division that will be headed by
Daniel Bernstein, a principal of Sidney Bernstein & Son Lingerie.
Melvin Knigin, Movie Star’s
Chief Executive Officer, stated: “We are excited to be acquiring Sidney
Bernstein & Son as we have been actively pursuing various business
opportunities that will contribute to enhancing future financial results. Their line of ladies’ intimate apparel will
further expand our product offerings, as well as diversify and broaden our
sales distribution. Last year, their
sales were in excess of
$18 million. We anticipate
the acquisition will close in the very near future.”
Movie Star, Inc. produces
and sells ladies’ apparel, including sleepwear, robes, leisurewear, and
daywear. Current collections include the
Cinema Etoile premium line of
intimate apparel and the Movie Star line of
apparel sold as private label programs.
Certain of the matters set forth in this press release
are forward-looking and involve a number of risks and uncertainties. Among the
factors that could cause actual results to differ materially are the following:
business conditions and growth in the industry; general economic conditions;
addition or loss of significant customers; the loss of key personnel; product
development; competition; risks of doing business abroad; foreign government
regulations; fluctuations in foreign rates; rising costs for raw materials and
the unavailability of sources of supply; the timing of orders booked; and the
risk factors listed from time to time in the Company’s SEC reports.
CONTACT: INVESTOR RELATIONS:
Movie Star, Inc.
-or- SM
Berger & Company, Inc.
Thomas Rende, CFO Stanley Berger
(212) 798-4700 (216) 464-6400