Signature Eyewear Announces Extension of Bank Forbearance Agreement


INGLEWOOD, Calif., July 8, 2002 (PRIMEZONE) -- Signature Eyewear, Inc. (SEYE) today announced that it received an extension of its bank forbearance agreement from July 8, 2002 to November 8, 2002.

Signature Eyewear is a leading designer and marketer of prescription eyeglass frames and sunglasses under internationally recognized brand names such as Laura Ashley Eyewear, the premier feminine collection; Eddie Bauer Eyewear, the everyday casual lifestyle collection for men and women; bebe eyes, sexy provocative eyewear for the contemporary woman; Hart Schaffner & Marx, the distinctively masculine collection; Nicole Miller Eyewear, a fun, whimsical collection for the style-conscious modern woman. Signature Eyewear's proprietary brands include Dakota Smith Eyewear, "Capturing the American Spirit," and The Signature Eyewear Collections. Signature Eyewear's products are sold in the United States and internationally to opticians, optometrists and ophthalmologists and to major national retail chains. For more information about Signature Eyewear, call 1-800-765-EYES, or visit the company's Web site at www.signatureeyewear.com.

This news release contains certain forward-looking statements that involve risks and uncertainties that could cause the actual results to differ. Such statements include the company's ability to refinance its credit facility and to satisfy the various other pre-closing requirements under the letter of intent, all of which are subject to many conditions, and which may be beyond the control of the company. No assurance can be given that the company will be able to refinance the credit facility or to complete the private placement with the private investor.



            

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