MAYWOOD, NJ--(Marketwired - Sep 24, 2014) - Jaclyn, Inc. (OTCQX: JCLY) today announced that it has entered into an amendment and extension of its revolving credit facility with TD Bank, N.A., as Agent and a lender, and Israel Discount Bank of New York, as a lender. The term of the credit facility was extended until November 30, 2017. In addition, the maximum principal amount of revolving loans and face amount of letters of credit under the credit facility was set at $50,000,000; applicable interest rates were reduced to the prime rate less 0.25% or, at the Company's option, 200 basis points above a floating 30-day Libor rate, or a fixed Libor rate for interest periods of 1, 2, or 3 months; and the Company will no longer be required to pay a fee on the unused portion of the credit facility (previously 0.25% on the first $30,000,000 available under the credit facility). The Company's non-real estate assets are pledged to the bank as collateral. The credit facility continues to require the Company to maintain a specified minimum tangible net worth and interest coverage, as well as a debt to equity requirement, each measured annually.

Forward Looking Statements

Note: This press release contains information concerning, among other things, our future plans and objectives, that is or may be deemed to be forward-looking statements. However, forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause our actual results, trends, performance or achievements, or industry trends and results, to differ materially from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. Those risks and uncertainties may include, but are not limited to, general economic and business conditions (including the prolonged economic recovery and disruptions in credit markets); competition; potential changes in customer spending; acceptance of our product offerings and designs; the variability of consumer spending resulting from changes in domestic economic activity; a highly promotional retail environment; any significant variations between actual amounts and the amounts estimated for those matters identified as our critical accounting estimates as well as other significant accounting estimates made in the preparation of our financial statements; and the impact of current and potential hostilities in the Middle East and in other geographic areas; as well as other geopolitical concerns. You are urged to consider all such factors. In light of the uncertainty inherent in such forward-looking statements, you should not consider their inclusion to be a representation that such forward-looking matters will be achieved. We assume no obligation for updating any such forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking statements.

Jaclyn, Inc. is a designer, manufacturer and marketer of apparel, women's sleepwear, infants' and children's apparel, handbags, premiums and related accessories. Our web site is at www.jaclyninc.com.