Licensee Relationship between Stanley Home Décor, Carolyn Kinder, Inc. and Uttermost Announced

For Immediate Release

For More Information

David Simpson

727-572-8668

March 27, 1997 – – – Recent developments in the licensee relationship between Stanley Home Décor, Carolyn Kinder, Inc. and Uttermost are announced.

Stanley and Uttermost, in a joint statement, announced the sale of the mirror division addressing the furniture store distribution business from Stanley to Uttermost. This change will allow Stanley to focus on the category of large retailer and home building centers, the area in which they have been so successful in the past.

In addition, Uttermost will acquire some exciting new designs and license agreements for a line of mirrors that will complement their already strong distribution chain of mirrors for furniture stores – an area in which they have shown growth this past year. Along with the mirror business, Uttermost has also acquired a license agreement with Carolyn Kinder, Inc. to design mirrors for this category of product. Uttermost has recently signed with Carolyn Kinder to design wall art and is planning a major debut of this new collection at Market in April. CKI is very enthusiastic about this move as it will allow them to address both categories; pictures and mirrors for furniture distribution through one company – Uttermost.

Stanley has retained their license agreement with Carolyn Kinder, Inc. for specific design and styling for popular priced goods that will be sold through their traditional channels of distribution to mass merchandisers. New groups of popular priced mirrors have been produced which are priced as excellent values in the popular priced range due to the new production techniques created and enhanced by CKI.

Carolyn Kinder has stated that she has been very pleased with the working relationship with Stanley this past year. However, this change allows them to produce pictures and mirrors for furniture distribution through Uttermost and to continue a successful relationship with Stanley to produce mirrors for mass merchants. This move represents the best of both worlds for CKI.