Business Services Industry

A.T. Cross Company Announces Agreement to Acquire Native Eyewear Inc

Business Wire, March 19, 2008

LINCOLN, R.I. -- A.T. Cross Company (Amex: ATX) today announced that the company has entered into an agreement to acquire Native Eyewear Inc. for $17.8 million, plus the assumption of approximately $1 million in bank debt.

Native Eyewear, based in Huntingdon Valley, Pennsylvania, is a designer and marketer of a branded line of All Sports All Polarized[R] sunglasses called "Native[R]" which is distributed throughout the United States under the Native Eyewear brand. The transaction is expected to close on March 24, 2008. A.T. Cross plans to host a conference call at 8:30 a.m. ET on March 25, 2008 to announce further details regarding the acquisition.

Parties interested in participating in the conference call may dial-in at (888) 254-3563, while international callers may dial-in at (913) 981-5549. The conference call will be webcast and can be accessed at www.cross.com or www.viavid.net. A recording of the conference call will be available until April 1, 2008 by dialing (888) 203-1112 or (719) 457-0820 for international callers, and entering the passcode of 2486339.

About A.T. Cross Company

Building on the rich tradition of its award-winning writing instruments and reputation for innovation and craftsmanship, A.T. Cross Company is a designer and marketer of branded personal and business accessories. Cross provides a range of distinctive products that appeal to a growing market of consumers seeking to enhance their image and facilitate their lifestyle. A.T. Cross products, including award-winning quality writing instruments, timepieces, business accessories and Costa Del Mar sunglasses, are distributed in retail and corporate gift channels worldwide. For more information, visit the A.T. Cross web site at www.cross.com and the Costa Del Mar website at www.costadelmar.com.

Statements contained in this release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (including but not limited to statements relating to new product introductions, brand extensions and the direct to consumer initiative ). In addition, words such as "believes," "anticipates," "expects," and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties, including but not limited to consumers' and retailers' reaction to the Company's existing and new writing instrument and accessory products, and the success of the direct to consumer initiatives, and are not guarantees since there are inherent difficulties in predicting future results. Actual results could differ materially from those expressed or implied in the forward-looking statements. The information contained in this document is as of March 19, 2008. The Company assumes no obligation to update any forward-looking statements contained in this document as a result of new information or future events or developments. Additional discussion of factors that could cause actual results to differ materially from management's expectations is contained in the Company's filings under the Securities Exchange Act of 1934.

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COPYRIGHT 2008 Gale, Cengage Learning

 

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