JLM Couture, Inc. Reports First Quarter Results

Business Wire, March 23, 2001

Business Editors

NEW YORK--(BUSINESS WIRE)--March 23, 2001

JLM Couture, Inc. (NASDAQ: JLMC), a designer, manufacturer and marketer of wedding apparel, today said that for the first fiscal quarter ended January 31, 2001, revenues were $4,249,777, a 6 percent gain on revenue of $4,005,801 for the like quarter last year. Net Income for JLM's 2001 first fiscal quarter declined to $158,553, or $0.08 per basic and diluted share, from $209,796, or $0.10 per basic and diluted share, reported for the like quarter in fiscal 2000, as the current quarters' sales mix included a higher percentage of lower margin bridesmaids dresses than last year's first quarter. The company also incurred higher marketing and advertising expenses in the first three months of the year.

Joseph L. Murphy, president and CEO, said all of the company's bridal and bridesmaids lines continue to show sales growth and anticipates that this growth should continue through the balance of the fiscal year.

JLM Couture, Inc., founded in 1987 and based in New York City, is the nation's only publicly traded manufacturer of wedding apparel. The company's lines include Occasions, its bridesmaids \ social occasions collection and the Occasions' Just Separates collection; Lazaro, a contemporary bridal rendition of the finest in classic European bridal styling; Visions, a moderately priced bridal collection featuring the finest in contemporary design; Jim Hjelm Couture, a collection of upscale bridal designs offer made from the finest fabrics; and Alvina Valenta, featuring an elegant look in upscale contemporary-classic bridal styling; and Lazaro Ensemble bridesmaids.

                 Consolidated Statement of Operations
                      For the Three Months Ended
                January 31, 2001 and January 31, 2000
                             (Unaudited)

                                   January 31,       January 31,
                                      2001              2000

Revenues                           $ 4,249,777       $ 4,005,801

Net Income                           $ 158,553         $ 209,796

Earnings Per Common Share
   Basic                                $ 0.08            $ 0.10
   Diluted                              $ 0.08            $ 0.10

Weighted Average Number of
 Common and Common Equivalent
 Shares Outstanding
   Basic                             1,968,164         2,012,905
   Diluted                           1,990,311         2,047,162

This document contains forward-looking statements. There are certain important factors that could cause results to differ materially from those anticipated by the statements made above. Additional information on these and other factors are included in the company's quarterly reports on Form 10-Q, the company's annual report on Form 10-K ended October 30, 2000 and the company's annual report to shareholders.