LOS ANGELES, August 7, 2003 (PRIMEZONE) -- According to the management of Aussie Apparel Group LTD. (OTCBB:AASI), the retail community has reacted optimistically to the pending acquisitions (announced July 8th and 9th of 2003 respectively) of TSA Brand Inc. and November Clothing Company, both based in Santa Ana, California. As a result, management is confident in being able to be cash flow positive by the second quarter of 2004.
Various retailers have commented on the proposed acquisitions of the TSA and November brands by Aussie Apparel including Matt O'Conner, buyer for Liberty Board Shop in Brea, CA who said, "Glad to hear the good news, I am looking forward to continuing our business." The owner of Action Village in Elkgrove, Illinois commented: "These brands are up and coming. Great to hear the good news as it will be good for everybody!"
Bruce MacGregor, President and CEO of Aussie Apparel said, "The reaction from the retail community to these potential acquisitions has been very positive. These brands have tremendous untapped potential that we feel can be capitalized on to a significant degree. They will provide a solid financial cash flow platform that will allow us to pursue additional outlets. The acceptance of the new lines and the introduction of additional products will accelerate our march to profitability."
Jim Waataja, President of November Clothing Company and TSA Brand Inc. said, "We are already seeing the benefit of working with the Aussie Apparel management team. They have provided our companies with a more seasoned professional sales team. As a result, we have been able to increase our sales staff, giving us representation in geographical areas where we previously lacked coverage."
Accordingly, TSA and November announced the addition of the following new sales representatives. William "Boog" Cram will cover the Texas, Oklahoma, Louisiana and Arkansas territory. Mr. Cram presently represents Capix Skate Gear, Gringo Skateboards and Legend Eyewear. In the all-important LA/Orange County, CA., San Diego and Arizona areas, the companies have hired Derek Grauer and Scott Hire. Mr. Hire currently represents Anarchy/Angel Eyewear, Emoo, and O&E surf accessories, while Mr. Grauer has previously handled Roial, Wave, SMP, Rave and Spyderbilt. Steven Lilli, formerly with Counter Culture, will handle Puerto Rico.
Aussie Apparel reiterated their intention to finalize the respective acquisitions by September 1, 2003.
For more information visit: http://www.aussieapparelgroup.com/
Contact Information for TSA and November: (949) 722-7315 or www.tsaclothing.com and www.november-clothing.com
Safe Harbor
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.