The First Tee Sea Coast

It lives! ANZTPA rises from the dead

The joint Australian and New Zealand therapeutic goods agency is back on the agenda.

ANZTPA (Australia New Zealand Therapeutic Products Agency), the birth child of Australias Therapeutic Goods Administration (TGA) and the New Zealand Medicines and Medical Devices Safety Authority (Medsafe) is once again being considered as a viable option for the uniform regulation of therapeutic goods in Australia and New Zealand.

On 29 January 2012 it was reported that the joint regulatory scheme moved one step closer when Ministers from both countries met in Melbourne for the first meeting of the Implementation Ministerial Council.

The meeting is reported to have discussed and agreed on key elements to establish a joint Trans-Tasman therapeutic products regulator. Those familiar with the industry will appreciate that discussions of a joint regulator have been on the agenda for some time.

The latest drive started on 20 June 2011, when the Australian Prime Minister Julia Gillard and New Zealand Prime Minister Jon Key announced that the New Zealand and Australian Governments had resumed their campaign to establish a trans-Tasman scheme for the regulation of therapeutic goods.

The scheme, which has an aspirational commencement date of 2016, is to be administered by ANZTPA and is aimed at safeguarding public health and safety, while encouraging economic integration and benefiting industry in both countries.^[1]

Both countries have, however, been exchanging industry know-how and resources since July 2011 in an effort to help set up the joint regulatory authority.

The idea of constructing such a scheme can be traced back to the Trans Tasman Mutual Recognition Arrangement (TTMRA) in 1996, which served as a basic tool in preventing excessive regulation associated with goods trade and the movement of skilled workers between Australia and New Zealand. The TTMRA did not, however, provide for the regulation of therapeutic goods due to vast differences in regulation policy between the two countries.

An alternative agreement for the regulation of these products was drafted and signed by both Governments in December 2003. The New Zealand Government was unable to gain sufficient support to enact the legislation required to give life to ANZTPA, which led to its suspension in July 2007. Although the scheme was unsuccessful at its first attempt, the foundations for its construction remained in place by virtue of the agreement signed by both Governments in December 2003, which allowed for negotiations to resume at any stage in the future.

The ANZTPA is unlikely to have a significant financial impact on the Australian and New Zealand therapeutic goods industries, as it is to be funded in a similar manner to the cost recovery strategies currently used by the existing regulators.

We will continue to provide updates on this new venture as they occur.

This article was written by Ross McInnes, Alexandra Kennedy-Breit and John Karantonis

^[1] medsafe.govt.nz/hot/anztpa.asp

Donate Used Sporting Goods for Sale

The annual Hampden Meadows School used sporting goods sale is coming up on March 24; drop off gear or get it picked up.

Police are still going through the merchandise and hearing from crime victims.

“I’ve got people in Florida calling who had their home broken into in Augusta five years ago,” said Sgt. Jason Vinson.

Most of the items bought by undercover officers through the sting operation at Cheap Cigarettes II on Peach Orchard Road came from burglaries between September and January. Smoke Screen has netted 85 arrests since it ended Feb. 28. Authorities are still searching for 29 other suspects.

“It’s like Christmas again,” said Tameka Dekle, who picked up her stolen flatscreen television from the Richmond County Sheriff’s Office on Monday.

Dekle squinted as she looked at a mug shot of the man who police identified as the person who burglarized her Barton Village home in October. Like many before her, she didn’t know the man who pawned her property to an undercover cop.

Martin and Cindy Ford never expected to see their $600 worth of stolen lawn equipment again. The couple said it wasn’t the first burglary at their home in the Hill area.

“I had read about the operation and hoped to see our stuff but we didn’t know how they would know it was ours,” Martin Ford said as investigators loaded leaf blowers and power hedge trimmers in his vehicle.

The stockpile of stolen televisions, computers, gaming systems and power tools has been growing daily since the undercover officer began working at the pawn shop seven months ago. Vinson said the officer would meet with an investigator daily to turn over the stolen items.

“That was the hard thing – making sure he wasn’t followed,” Vinson said.

Investigators said the goods mainly came from Richmond County, but several have been identified from Jefferson and Aiken counties. Larger items, including a John Deere tractor and several ATVs, were taken in Burke County.

Sonalis Flores’ belongings were stolen in Richmond County, but after several break-ins at her Plantation Acres home, she moved to Jefferson County. She picked up her laptop, desktop computer and a DVD player from a September burglary. The only item that wasn’t returned was a Playstation 2.

“It’s a relief,” she said. “I didn’t even have the serial numbers.”

Investigators recommend that everyone keep records of serial numbers, makes and models in case they are ever victims of a burglary.

Capt. Scott Peebles said a team is reorganizing to bring in the remaining suspects.

For every season, for every purpose under heaven, there is a womens bag made to turn heads. Here, some of the newest show off a design aesthetic and functional artistry that combine in come-hither bags and corroborate what women have known forever: one can never have enough bags.lt;/pgt;lt;pgt; FOR THE FEMALE ADVENTURISTlt;/pgt;lt;pgt; When, according to the National Sporting Goods Association, more women than men took up hunting in 2009, AmeriBag, the Healthy Back Bag folks, and Browning, the famous firearms company, paid heed. AmeriBag Outdoors acquired the Browning hunting gear license to create its Browning Handbag Collection ($120-$200), featuring sporty corduroy bags trimmed with leather perfectly in step with womens everyday and outdoor lifestyles.lt;/pgt;lt;pgt; Durable, stylish and functional, the collection is a great extension of the Browning brand, whose roots go back to 1878 and the design of a single shot rifle. With wide wale corduroy dyed to create a weathered look, Browning logo-embossed leather accents, antique brass hardware and animal print lining, the bags fit in at the rifle range, a casual dinner out with the girls and a weekend getawaylt;/pgt;lt;pgt; Collection pieces include the Billings Healthy Back Bag Tote, the Bozeman Tote, the Bridger Hobo and the Missoula Messenger. Additionally, AmeriBag Outdoors offers the serious outdoor sportswoman a Pink Browning Hunting Gear line comprising Brownings Rambler Waist Pack and the Browning Powder Creek Backpack.lt;/pgt;lt;pgt; WINK, WINKlt;/pgt;lt;pgt; A kitschy cell phone holder. A piece of fashion art. A conversation starter. Whatever you call it, Hi-di-hi Arts amp;#38; Wonders Winky Cross-Body Bag ($32.50) is pure whimsy. First introduced in the Netherlands, the eye-catching pun intended round bag that has just enough room to hold a cell phone, lip gloss and mad money actually appears to wink as you walk. Created by Dutch designer and Hi-di-hi founder Sylvia Krens, Winky makes its American debut at the 2012 Travel Goods Show in Las Vegas on March 6 to 8.lt;/pgt;lt;pgt; This is a fun accessory sure to be a conversation starter for travelers who love style and functionality, said Bridget Faricy, president of Hi-di-hi. Lightweight but durable, it smartly equips travelers for adventures near and far, providing style, security and satisfaction when theyre ready to take on the world.lt;/pgt;lt;pgt; To celebrate its arrival in the U.S, Hi-di-hi is unveiling a special limited edition bag in addition to its standard if there can be such a thing Winky. The Liberty Winky Cross-Body Bag ($52.95) is a silver metallic bag with adjustable shoulder strap and featuring steel spikes that reflect Lady Libertys crown the epitome of freedom of expression.lt;/pgt;lt;pgt; HIP HUGGERlt;/pgt;lt;pgt; Heres a novel solution to an age-old problem: how to carry lots of little necessities while remaining hands-free especially when navigating your way through airport checkpoints: Hipzbags Passport Bags ($24.95-$27.99) are adorable micro bags that are worn low-slung on the hips.lt;/pgt;lt;pgt; Tuck in your passport, cell phone, camera, credit cards, keys and other small essentials and then either clip Hipzbag to your belt loops with swivel hooks or connect it to a skinny, matching waist strap and let it ride your hip.lt;/pgt;lt;pgt; While it does the job of the fanny pack, your grannys fanny pack its not. Created by self-professed computer nerd Kathy Crifasi who, while an unabashed techno-geek, asserts she is way too cool for that particular item, Hipzbag is a smaller bag thats, well, hip. Available in two sizes (5.5 inches by 5.5 inches and 4.5 inches square), it accessorizes any outfit in faux or patent leather, velveteen or nylon that can be accented with stripes, rhinestones even college logos.lt;/pgt;lt;pgt; Kathy Witt is a freelance writer and the author of The Secret of the Belles (Dog Ear Publishing, $12.95). Visit Kathys blog at www.TravelinTales.com.lt;/pgt;lt;pgt; lt;/pgt;lt;pgt; 2012, McClatchy-Tribune Information Services.

US equity markets were lower Wednesday afternoon as worries about slowing economic growth sparked a sell-off in global markets.

As at 2.53pm EDT, the Dow Jones Industrial Average was down 1.69% at 12,744.13, the Samp;P 500 was down 1.7% and the NASDAQ was 1.58% lower.

Amid news of slowing growth in China, and more concerns over whether Greece can secure the private sector debt deal, economic growth in the EU contracted 0.3% in the fourth quarter, according to the second estimate from Eurostat. That is compared to growth of 0.3% in the EU in the third quarter.

In corporate news, Monster Worldwide (NYSE:MWW) shares rose nearly 10% after the company said it has retained Stone Key Partners and BofA Merrill Lynch to review strategic alternatives.

Dicks Sporting Goods (NYSE:DKS) said Tuesday fourth quarter net income jumped 27 percent amid strong sales at Golf Galaxy and online, but missed analysts profit estimates.

For the 13-weeks that ended January 28, the sporting goods retailer said sales jumped 6.1 percent to $1.61 billion. That compares with $1.51 billion, last year. Net income spiked to $111 million, or 88 cents a share, compared with a year-earlier profit of $87.4 million, or 71 cents a share.

AmerisourceBergen Corp. (NYSE:ABC) agreed to pay $520 million in cash to acquire World Courier Group, a provider of transportation and logistics services to the biopharmaceutical industry.

Commodities

In NYMEX futures trading, oil for April delivery slipped $1.95 to $104.77 a barrel while gold futures for April delivery fell $35.40 to $1,668.80 an ounce.

Europe

European markets saw broad losses on Tuesday. The CAC 40 was down 3.58% while Germanys DAX was off 3.40% and Britains FTSE 100 closed lower by 1.86%.

The generosity of the those in the Bluegrass wanting to help their fellow neighbor has been incredible and the outpouring of support has been much appreciated.

The response has been so great that the American Red Cross was notified this morning by the Kentucky Division of Emergency Management that the immediate needs of storms victims are being met (clothes, goods, food, etc.) at this time and to encourage those wanting to help to give financial donations to help the victims begin to reestablish their lives.

Weve been told that the area is at capacity for collected physical goods at this time and that in order to continue an organized method of delivery of vital services, the response is being shifted to long term assistance. says Winn Stephens, development director of the Bluegrass Chapter of the American Red Cross.

The Red Cross will be continuing Damage Assessment in the affected areas this week and will begin client casework as soon as possible. The shelter in Morgan County remains open and the Laurel County Shelter remains on stand by.

To make a financial donation to support Kentucky Tornado victims :

Viist www.redcross.org and give to the Disaster Relief Fund
Call 1-800-REDCROSS
Text Redcross 90999
Drop a check off at any Central Bank or Fifth Third Bank Location
Mail a check to 1450 Newtown Pike, Lexington, KY 40511 with Disaster Relief in the memo line.

LOUISVILLE, Colo., March 6, 2012 /PRNewswire/ –34-year solar veteran and national powerhouse, Real Goods Solar today announced that it has expanded its operations to Delaware, bringing its innovative solar financing plans and three decades of experience to the state.

Delaware is now offering its residents some of the best incentives in the nation to embrace renewable energy, explained Mark Nelson, Vice President of Northeast Residential Sales for Real Goods. Our goal is to help Delaware have the highest per capita adoption of solar power in the country.

The new office and expanded sales team will build on Real Goods Solars long-standing presence on the east coast, said John Schaeffer, Residential President of Real Goods Solar. We look forward to helping First State residents reduce their carbon footprint and their dependence on fossil fuels with solar power.

As a special introductory offer, Real Goods is offering $500 cash for homeowners that switch to solar by March 31st. To take advantage of this offer, interested homeowners should call 888.56.SOLAR as soon as possible to schedule their free solar site evaluation.

About Real Goods Solar

Real Goods Solar is a leading solar energy integrator, having installed over 11,000 solar electric systems. We offer turnkey solutions, and have 34 years of experience in solar energy, beginning with its sale of the first solar photovoltaic panels in the US in 1978. With offices in California, Colorado and the Northeast, Real Goods Solar is one of the largest residential solar installers in the country. For more information, visit www.RealGoodsSolar.com or call 1-888-56-SOLAR.

SOURCE Real Goods Solar

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This monthly report series began in December, applying dog dividend methodology to each of eight major market sectors. In alphabetical order, these sectors are: Basic materials, consumer goods, financial, healthcare, industrial goods, services, technology, and utilities.

The ninth sector, conglomerates, according to Yahoo Finance, contained just eight firms, five of which paid dividends. Thus we cannot apply dogs of the index metrics to such a limited universe:

Such a task is comparable to a dog show judge trying to evaluate a Chihuahua based on St. Bernard conformation standards.

Dogs of the Index Metrics Used to Select The Top Ten Sector Stocks

Two key metrics determine the yields that rank index or sector dog stocks: (1) stock price; (2) annual dividend. Dividing the annual dividend by the price of the stock declares the percentage yield by which each dog stock is ranked. Investors select portfolios of five or ten stocks in any one index or sector by yield to trade. They await the results from their investments in the lowest-priced, highest-yielding stocks they selected and pray that the price of every stock they now own climbs higher (having locked in a high yield percentage at purchase).

This Dogs of the Index strategy, popularized by Michael B. OHiggins in the book Beating The Dow (HarperCollins, 1991), reveals how low yielding stocks whose prices increase (and whose dividend yields therefore decrease) can be sold off once each year to sweep gains and reinvest the seed money into higher yielding stocks in the same index.

Comparative Methods Used

First, the entire list of consumer goods sector companies is sorted by yield (as of February 24) using Ycharts.com to reveal the top thirty. Market performance of these thirty selections is then reviewed using four months of historic projected annual dividend history from Yahoo Finance, with annual divided projections reviewed and adjusted for market realities.

Thereafter, todays article goes on to assess the relative strengths of the consumer goods sector top ten dividend dogs as of February 24 vs. the Dogs of the Dow January 10 stock list. Annual dividends from $1000 invested in the ten highest yielding stocks in the sector and index are compared to the aggregate single share prices of the top ten stocks in the sector and index.

Consumer Goods Dividend Dogs (Click to enlarge)

The top ten consumer goods stocks paying the biggest dividends in January represent five industries. Top stock Standard Register (SR) is from the Office Supplies Industry. Second dog, Vector (VGR) is from the cigarettes industry. Three of the top ten basic materials firms are in the same cigarettes industry group, Altria (MO), and Reynolds (RAI) are the others. Two equipment firms are Pitney Bowes (PBI) and Royal Philips Electronics (PHG). There are also two personal products industry firms: CCA Industries (CAW), and United – Guardian (UG). The balance of the top ten are: textiles – apparel clothing, Cherokee (CHKE); auto parts, Douglas Dynamics (PLOW).

Vertical Moves in Februarys Consumer Goods Dogs

Going back four months, Vector claimed the top of this list by yield. In February, Standard Register became top dog with a yellow tint by virtue of a share price slump of 22.92%.

Color code shows: (Yellow) firms listed in first position at least once between November 2011 and February 2012; (Cyan Blue) firms listed in tenth position at least once between November 2011 and February 2012; (Magenta) firms listed in twentieth position at least once between November 2011 and February 2012; (Green) firms listed in thirtieth position at least once between November 2011 and February 2012. Duplicates are depicted in color for highest ranking attained.

(Click to enlarge)

Bullish vertical moves made since January 20 included the aforementioned Vector Group, with a share price increase of 6.0%; Douglas Dynamics had a 2.48% price gain; Altria Group showed an 4.5% increase; Reynolds American posted a 2.64% price gain; Cherokee had a 8.63% price gain; Virco Manufacturing Corp (VIRC) exited the top ten as a result of its 18.72% price gain.

Bearish moves for the same period were experienced by Standard Register with its aforementioned 22.92% price decline; Pitney Bowes showed a 7.72% price slump; CCA Industries made a .602% decline; United – Guardian climbed higher as a top ten consumer goods dog by yield after posting a .818% decline.

Dividend vs. Price Results vs. Dow Dogs

Below is a graph of the relative strengths of the top ten consumer goods dividend sector stocks by yield as of February 24, 2012, compared to those of the Dow. Using four months of the historic projected annual dividend history, from $1000 invested in the ten highest yielding stocks each month and the total single share prices of those ten stocks, weve created the data points for each month shown in green for price and blue for dividends.

(Click to enlarge)

Conclusion: Consumer Goods Dogs Find A Bear

The February consumer goods collection of top ten dividend payers showed steady horizontal market performance in price at the four monthly points surveyed. However, an increase in projected dividends from $1k invested in each of the top ten from a steady share price displayed a bearish trend.

Meanwhile, the Dow index moved beyond convergence as dividends from $1k invested in the top ten sank lower than aggregate total single share prices in February. The consumer goods sector top ten showed $301 more dividends (with equally bigger risk) at a $300 lower aggregate share price for the top ten dogs than those of the Dow as of February 24.

At the end of each month, two summaries will conclude this new series of articles by showing comparative results of yield and price for all eight sectors reported: Basic materials, consumer goods, financial, healthcare, industrial goods, services, technology, and utilities.

Disclosure: I am long T, VZ, INTC, JNJ, CVX.

Disclaimer: This article is for informational and educational purposes only and shall not be construed to constitute investment advice. Nothing contained herein shall constitute a solicitation, recommendation or endorsement to buy or sell any security. Prices and returns on equities in this article are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling same.

Congress on Tuesday overturned a court decision and reaffirmed that the government has the right to impose higher tariffs on goods from China and other state-run economies that subsidize their exports to the United States.

The House voted 370-39 to pass the measure and send it to President Barack Obama for his signature. The Senate approved it Monday on a voice vote with no debate.

The speedy and bipartisan congressional action came after a federal appellate court ruled in December that the Commerce Department did not have the authority to levy the punitive tariffs because Congress had never explicitly given the agency that right.

The Commerce Department has been applying these countervailing duties since 2007. The legislation ensures that 24 existing higher tariff orders and six pending investigations against imports from China and Vietnam will continue to be valid. Of those 24, 23 are directed at Chinese subsidies.

The duties are allowed under World Trade Organization rules to counteract unfair subsidies used by countries, such as China and Vietnam, with non-market economies. China agreed to abide by countervailing duty laws when it joined the WTO in 2001.

China distorts the free market by giving enormous subsidies to its producers and exporters, said House Ways and Means Committee chairman Dave Camp, R-Mich.

Senate Finance Committee Chairman Max Baucus, D-Mont., said that since 2007 countervailing duties have protected some 80,000 jobs across the country. China doesnt get a free pass to violate the rules at the expense of American jobs, he said.

US Trade Representative Ron Kirk, at a House hearing last week, urged Congress to act quickly to overturn the flawed decision. He said that prompt legislative action would clarify the law and avoid harm from injurious, subsidized goods.

The Ways and Means Committee said the existing tariff orders provide relief for more than 80 American companies in 38 states. One of the larger cases involved Chinese tires: in 2009 the government imposed a three-year tariff, starting at 35 percent, on US imports of low-grade Chinese tires. The tariff was approved after imports of those tires rose threefold to about 46 million tires between 2004 and 2008. Last year the World Trade Organization, rejecting an appeal from China, found that the United States acted consistently with its WTO obligations in imposing the duties.

The top Democrat on the Ways and Means panel, Sander Levin of Michigan, said that almost half of the countervailing duty orders in place today involve China, and that abusive trade practices were in part responsible for Chinas $295 billion trade surplus with the United States last year, A central element of Chinese industrial policy has been to provide massive subsidies to its producers to help them knock out the competition and dominate the market.

The House vote reflected strong congressional sentiments that China should be confronted over its trade practices. Last October the Senate passed legislation that threatened higher tariffs against China if it continued to artificially undervalue its currency, making Chinese exports cheaper. The House did not take up that bill.

The National Association of Manufacturers welcomed the congressional votes on countervailing duties, saying that failure to act would leave manufacturers in the US defenseless against rampant deep-pocket Chinese and other government subsidies.

Voicing opposition was the conservative Club for Growth, which said the bill makes it clear that Congress wants to escalate its trade war rhetoric with China. The group also cited Congressional Budget Office estimates that the legislation would increase revenues by about $160 million over the next decade, saying that amounted to a tax increase.

NEW YORK, NY, Feb 03, 2012 (MARKETWIRE via COMTEX) –
Swank, Inc. (pinksheets:SNKI), a leading designer and marketer of
men’s and women’s belts and men’s leather accessories, jewelry and
suspenders, and Randa Accessories Leather Goods LLC, a leading
manufacturer, distributor and marketer of lifestyle accessories,
jointly announced that they have entered into a definitive merger
agreement pursuant to which Randa will acquire Swank for $10.00 a
share, or total consideration of approximately $57.5 million.

The merger consideration represents a 111% percent premium over the
closing bid price of Swank’s common stock as quoted on the website of
OTC Markets Group on February 2, 2012.

John Tulin, Chairman of the Board and Chief Executive Officer of
Swank, said, “I am pleased to announce this agreement, as it will
deliver to our stockholders significant value and the certainty of a
substantial cash premium for their shares. Today’s announcement is
the result of a lengthy process in which Swank’s Board of Directors,
working with senior management and with our financial and legal
advisors, have thoroughly reviewed and considered Randa’s interest in
Swank. Our Board of Directors has unanimously approved this
transaction and believes it is in the best interests of our
stockholders, customers and employees.”

Jeffrey Spiegel, Chief Executive Officer of Randa, added, “We are
very pleased that Swank, a leader in the men’s and women’s
accessories industry with a strong reputation for exceptional
quality, reliability and customer service, is joining our family. The
strategic benefits of this combination are clear and we are pleased
to be able to move forward on terms that are financially attractive
for Swank’s stockholders.”

The acquisition, which is subject to approval by Swank’s stockholders
as well as other customary closing conditions, is expected to close
in the second quarter of 2012. Randa intends to fund the acquisition
with a combination of existing cash and the proceeds of a committed
revolving credit facility from JPMorgan Chase Bank.

Under the terms of the merger agreement, Swank may solicit and
encourage alternative acquisition proposals from third parties for a
35-day “go-shop” period continuing through March 9, 2012. The merger
agreement provides Randa with a customary right to match a superior
proposal. Swank does not anticipate it will disclose any developments
with regard to this process unless Swank’s Board of Directors makes a
decision with respect to a potential superior proposal. There is no
guarantee that this process will result in a superior proposal.

For the protection and benefit of participants in the employee stock
ownership plan component of The New Swank, Inc. Retirement Plan,
Reliance Trust Company has been appointed to serve as independent
fiduciary and independent trustee of the employee stock ownership
plan component of the Retirement Plan. Stout Risius Ross, Inc. is
acting as the financial advisor to Reliance Trust Company and Bryan
Cave LLP is acting as Reliance Trust Company’s legal advisor.

Financo, Inc. is acting as financial advisor to Swank and has
provided a fairness opinion in connection with the transaction to the
Board of Directors of Swank. Troutman Sanders LLP is serving as
legal advisor to Swank in connection with this transaction. Peter J.
Solomon Company is Randa’s financial advisor and Olshan Grundman
Frome Rosenzweig & Wolosky LLP is serving as legal advisor to Randa
in connection with the transaction.

About Swank, Inc.

Swank is engaged in the importation, sale and distribution of men’s
and women’s belts and men’s leather accessories, suspenders, and
jewelry. Swank distributes its products to retail outlets throughout
the United States and in numerous foreign countries. These products
are distributed under the names “Kenneth Cole”, “Tommy Hilfiger”,
“Nautica”, “Geoffrey Beene”, “Guess?”, “Tumi”, “Buffalo David
Bitton”, “Chaps”, “Donald Trump”, “Pierre Cardin”, “US Polo
Association”, and “Swank”. Swank also distributes men’s jewelry and
leather items to retailers under private labels.

About Randa

Randa Accessories is the global leader in lifestyle accessories and
the world’s largest men’s accessories company. Collaborating with 75
leading brands, Randa designs, innovates, manufactures, and markets
men’s belts, wallets, neckwear, small leather goods, luggage,
backpacks, business cases, seasonal footwear, and gifts. From its
origins as a neckwear company over a century ago, Randa now provides
fashion, lifestyle, luxury, and private branded products through
retailers in all channels of distribution, worldwide. More
information is available at
www.randa.net .

This press release contains only a brief description of the proposed
transaction. It is not a request for or solicitation of a proxy or an
offer to acquire any shares of the common stock of Swank. In
connection with the proposed acquisition, Swank intends to file a
proxy statement on Schedule 14A and other relevant materials with the
Securities and Exchange Commission, or SEC. Stockholders of Swank are
urged to read Swank’s proxy statement and all other relevant
documents filed with the SEC when they become available, as they will
contain important information about the proposed transaction. A
definitive proxy statement will be sent to Swank’s stockholders
seeking their approval of the proposed transaction. Swank’s
stockholders will be able to obtain these documents (when available)
free of charge at the SEC’s web site,
http://www.sec.gov . In
addition, they may obtain free copies of these by contacting Swank’s
Secretary, Jerold R. Kassner, at 656 Joseph Warner Boulevard,
Taunton, Massachusetts 02780, telephone: (508) 977-4453. Swank’s
stockholders also may read and copy any reports, statements and other
information filed with the SEC at the SEC public reference room at
100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at
1-800-SEC-0330 or visit the SEC’s website for further information on
its public reference room.

Swank, its directors and executive officers may be deemed to be
participants in the forthcoming solicitation of proxies from the
holders of Swank common stock in connection with the proposed
transaction. A list of the names and other information regarding the
directors and executive officers of Swank is available in Swank’s
Annual Report on Form 10-K for the fiscal year ended December 31,
2010, filed with the SEC on March 31, 2011, Amendment No. 1 on Form
10-K/A, filed with the SEC on May 13, 2011, and Swank’s Definitive
Proxy Statement for its 2011 annual meeting of stockholders filed
with the SEC on July 15, 2011. Additional information regarding the
interests of such potential participants will be included in the
proxy statement and the other relevant documents filed with the SEC
when they become available.

Forward Looking Statements

Note: This press release may contain forward-looking statements that
are being made pursuant to the Private Securities Litigation Reform
Act of 1995, which provides a “safe harbor” for forward-looking
statements to encourage companies to provide prospective information
so long as those statements are accompanied by meaningful cautionary
statements identifying important factors that could cause actual
results to differ materially from those discussed in the statement.
Forward-looking statements are subject to a number of known and
unknown risks and uncertainties that could cause actual results,
performance or achievements to differ materially from those described
or implied in the forward-looking statements, including, but not
limited to, general economic and business conditions; competition in
the accessories markets, potential changes in customer spending;
acceptance of product offerings and designs; the variability of
consumer spending resulting from changes in domestic economic
activity; any significant variations between actual amounts and the
amounts estimated for those matters identified as critical accounting
estimates, as well as other significant accounting estimates made in
the preparation of financial statements; as well as geopolitical
concerns. Accordingly, actual results may differ materially from such
forward-looking statements. You are urged to consider all such
factors. Any forward-looking statements relating to the transaction
discussed above are based on our current expectations, assumptions,
estimates and projections and involve significant risks and
uncertainties, including the many variables that may impact or are
related to consummation of the transaction, SEC regulatory review of
our filings related to the transaction, the continuing determination
of Swank’s Board of Directors that the transaction is in the best
interests of all stockholders; and the results of the go-shop period
and whether any additional acquisition proposals or superior
proposals are made. Swank and Randa 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.

Contact for Swank, Inc.:
John Tulin
Chairman
212-867-2600

SOURCE: Swank, Inc.

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