LOS ANGELES, April 10, 2006 (PRIMEZONE) -- Ever-Glory International Group (OTCBB:EGLY) is pleased to announce that its shares are being traded on the Frankfurt Stock Exchange under the symbol (Frankfurt:E4G). International Security Identification Number (ISIN/CUSIP) number is US2997661051 and German Security Code ("Wertpapierkennummer") is A0HNH8. Because Frankfurt exchange is the third-largest organized exchange-trading market in the world (just behind the NYSE and Nasdaq exchanges), in terms of turnover and dealings in securities, Ever-Glory International Group anticipates a much wider, international market access for EGLY shares. The listing on the Frankfurt Stock Exchange provides the Company with increased exposure to worldwide capital markets and will enable Ever Glory International Group to attract European institutional and individual investors to trade the Company's common stock in euros. This new listing will not dilute Ever Glory's shares in any way.
"This is going to be a huge step in the development of Ever-Glory International Group for many years to come. The Company's revenues continue to grow explosively. We view the listing of our stock on the Frankfurt Stock Exchange as an opportunity for The Company to become a major player in this multi-billion worldwide market," stated Edward Kang, President and CEO of Ever-Glory International Group.
Edward Kang continued, "We have seen a significant level of European interest in our manufacturing service. A Frankfurt listing will enhance awareness of the company and increase our corporate profile in the European investment community. The Frankfurt Exchange is one of the most widely respected exchanges in Europe and it is a thrill to commence trading there."
About Frankfurt Stock Exchange
FWB(r) Frankfurter Wertpapierborse (Frankfurt Stock Exchange) is one of the world's largest trading centers for securities. It is owned and operated by Deutsche Borse, which also owns the European futures exchange Eurex and clearing company Clearstream. The Deutsche Borse's products and services portfolio cover the entire process chain including securities and derivatives trading, transaction settlement, the provision of market information, as well as the development and operation of electronic trading systems. The Frankfurt Stock Exchange has over 90 percent of turnover in the German market and a big share in the European market. For more information, visit the Deutsche Borse at: http://deutsche-boerse.com.
About Ever-Glory International Group
Ever-Glory International Group (EGLY) is a U.S. publicly traded company engaged in international garment manufacturing for well-known middle- to high-grade casual, outer, and sportswear brands. The company's U.S. headquarters is based in Los Angeles, Calif.; although Ever-Glory also owns a full subsidiary company, Nanjing Goldenway Garments Co. Ltd. located in China. Ever-Glory has strategic marketing and logistics channels located in, Japan, Europe, and United States and has strategic business partners in countries and regions including China, Hong Kong, the U.S., and the U.K. The Company cooperates with well-respected garment retailer chains such as ITOYOKADO, UNIQLO, Debenhams, GAP, C&A, NEXT, BHS, TESCO, M&S, J.C.PENNY, WARL-MART, KELLWOOD (KWD), B.B.DAKOTA and ABERCROMBIE & FITCH (ANF) in handling high- and middle-grade casual-wear and sportswear. The Company entered into production and sale cooperation agreements with a number of internationally famous brands. The company employs about 700 people. At present, the market distribution is segmented as 35 percent in Japan, 50 percent in Europe and 15 percent in the United States.
For more information about Ever-Glory International Group, please visit: http://www.everglorygroup.com.
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities.