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 EVERLAST WORLDWIDE INC. SPONSORS USA BOXING’S 2002 EVERLAST MEN’S U.S. NATIONAL CHAMPIONSHIPS AND 75TH ANNUAL DAILY NEWS GOLDEN GLOVES TOURNAMENTNEW YORK, New York, March 6, 2002 -- Everlast Worldwide Inc. (Nasdaq: EVST), manufacturer, marketer and licensor of sporting goods and apparel under the Everlast brand name, today announced that it would sponsor two major amateur boxing events: USA Boxing’s 2002 Everlast Men’s U.S. National Championships and the 75th Annual Daily News Golden Gloves tournament. The 2002 Everlast Men’s U.S. National Boxing Championships, under the auspices of USA Boxing, marks the 114th showing of the event which will be held at Caesars Palace in Las Vegas April 1st-6th. The tournament, which will include over 250 regional and Armed Forces champions in 12 weight divisions, will air twice on the ESPN2 cable television channel during May. All participating boxers will be wearing Everlast competition gloves as well as headgear. Everlast will be furnishing ring signage, custom canvas, corner cushions, post pads and turnbuckle covers for the tournament. In addition, Everlast will be displaying and selling products throughout the tournament and will be supplying a custom championship belt for each of the 12 National Champions. The Men’s U.S. Boxing Championships have been held annually since 1888, making it the longest running boxing tournament in the United States. Twenty U.S. champions, including Pernell Whitaker, Oscar De La Hoya, Sugar Ray Leonard and Muhammad Ali, went on to earn gold medals at the Olympic Games. This year marks the first time the tournament will be held in Las Vegas. The sponsorship of the Everlast Men’s U.S. Boxing Championships comes as part of the four-year sponsorship and licensing agreement Everlast Worldwide signed last year with U.S. Amateur Boxing, Inc. (USA Boxing), the National Governing Body for the sport of amateur boxing. Under the terms of the agreement, Everlast boxing equipment has been designated as “The Official Equipment of USA Boxing” and the company will have exclusive use of this designation in all advertising, promotional and marketing activities. Further, Everlast boxing equipment will be used at all USA Boxing-sponsored events and shows in preparation for the upcoming Olympic Games. For the finals of the 75th Annual Daily News Golden Gloves, which will be held April 11th and 12th in New York City’s Madison Square Garden Theater, the competitors will be using Everlast’s amateur competition gloves and headgear and will be wearing new Everlast satin trunks and robes. Each champion will receive an Everlast custom blue velour suit embroidered with “Daily News Golden Gloves 2002 Champion.” The finals, which will be broadcast on the Madison Square Garden network, will also include an Everlast ring canvas, turnbuckle cover and post pad signage. Everlast will also be featured in all advertising and marketing collateral material, banner signage, and will have a one-page ad in the Golden Gloves program. The broadcast of the event will incorporate an on-screen graphic of the Everlast logo. The Golden Gloves tournament was started in 1927 by New York Daily News sports editor, Paul Gallico, and has launched the careers of many famous champions throughout the sport’s history, including Sugar Ray Robinson, Floyd Patterson and Mark Breland. George Q Horowitz, chairman and CEO of Everlast Worldwide Inc., said, “It is only fitting that Everlast, boxing’s oldest and best known brand, be associated with these events, two of the sport’s most established and prominent amateur competitions. We have expanded our participation in these two major events as a way of demonstrating our commitment to enhancing the stature of the Everlast brand within the amateur boxing community. This commitment is really an investment in our future as we believe that many of these fighters will continue to use and wear our products throughout their professional, and, perhaps championship careers. We will benefit greatly from the exposure that we will receive from these events given that they are being held in two of boxing’s most important markets – New York City and Las Vegas.” About Everlast Worldwide Inc. Everlast Worldwide Inc. manufactures, markets and licenses sporting goods and apparel products under the Everlast brand name. Since 1910, Everlast has been the preeminent brand in the world of boxing and is among the most dominant brands in the overall sporting goods and apparel industries. Over the past 90 years, Everlast products have become the “Choice of Champions™”, having been used for training and professional fights by many of the biggest names in the sport. Everlast is the market leader in nearly all of its product categories, responsible for leading eight of the top ten boxing equipment products in sales. Through its apparel division, Everlast men’s and women’s active wear products are sold to over 20,000 retail locations throughout the United States and Canada, including a variety of department stores, specialty stores, catalog operations and better mass merchandisers. In addition to producing and marketing the equipment and accessories, Everlast Worldwide Inc. licenses its brand to providers of men’s and women’s sportswear and active wear, children’s wear, footwear, watches, cardiovascular exercise equipment and gym/duffel bags. At the retail level, Everlast’s licensed products generate over $200 million in revenues. The company’s Web site can be found at http://www.everlast.com. This release contains forward-looking statements that involve risks and uncertainties. The Company’s actual results could differ materially from those anticipated in these forward-looking statements. Factors that may cause such differences include, but are not limited to, the Company’s expansion into new markets, competition, technological advances and availability of managerial personnel. CONTACTS: Adam Geisler and Fritz Zivic Marketing Department Everlast Worldwide Inc. 718-993-0100 E-Mail: adamg@everlast.com Gene Marbach and Ting Mei Chong Investor Relations Makovsky & Company Inc. 212-508-9600 |
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