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 EVERLAST WORLDWIDE INC. ADDS TWO HEAVYWEIGHT STARS TO GROWING TEAM OF BOXING ENDORSERS NNEW YORK, New York, March 21, 2002 - Everlast Worldwide Inc. (Nasdaq:EVST), manufacturer, marketer and licensor of sporting goods and apparel under the Everlast brand name, today announced that the No. 1 contender for the IBF heavyweight title, Chris Byrd, and top-ranked heavyweight, Jameel "Big Time" McCline, are the latest endorsers to join the Everlast team. They join boxing great, Fres Oquendo, "Sugar" Shane Mosley and Sugar Ray Leonard as star members of Team Everlast. Everlast continues to advance its brand awareness program through the signing of professional boxers. As Everlast spokespersons, both Byrd and McCline will endorse Everlast equipment and apparel through participation in advertising campaigns, on-line initiatives, appearances at trade shows, in-store promotions, community activities and other special events. In addition, the fighters and their corner attendants will wear equipment and ring attire prominently displaying the Everlast logo during their upcoming fights. "We are extremely excited with the addition of Byrd and McCline to our family. Both are dynamic professionals and are just the type of boxers who will add new chapters to the more than 90-year heritage of Everlast. Given that the heavyweight division is extremely popular among fans, we stand to achieve greater visibility and levels of brand awareness among consumers," said George Q Horowitz, Chairman, President and CEO of Everlast Worldwide Inc. "The appeal and heritage of our brand are further highlighted when rising stars such as Byrd and McCline choose to represent Everlast." 32-year-old Chris Byrd's unlikely childhood dream of becoming a heavyweight champion of the world was brought one step closer when he defeated Ukrainian juggernaut Vitali Klitschko in a shocking ten-round upset on April 1, 2001. The Flint, Michigan native then went on to gain a unanimous win over David Tua on August 18th, becoming the mandatory challenger for the IBF heavyweight title. Byrd now boasts a professional record of 33 wins (19 by knockout) and is in line for a title shot with current IBF Heavyweight Champion, Lennox Lewis. He is trained by his father, Joe Byrd, Sr. Jameel McCline was a virtual unknown before July 21, 2001, but 43 seconds was all he needed to make a name for himself as he knocked out Michael Grant. Five months later, the 31-year-old fighter proved he was no one-punch wonder as he outscored the formidable Lance "Goofi" Whitaker to win his first belt and become one of the world's leading boxing contenders. Currently ranked No. 3 by the WBO, McCline holds an impressive record of 27 wins, three draws and two losses. McCline will be defending his WBC Intercontinental Championship on April 27th at New York City's Madison Square Garden. He is trained by Jimmy Glenn and resides in Woodbridge, New Jersey. Mr. Horowitz concluded, "We have gained considerable momentum due to the success of our endorsement program. Everlast products worn and used by these boxers, as well as countless other professionals, are seen by millions of viewers on ESPN, HBO and Showtime. In addition to driving the success of our rejuvenated boxing line, the heightened awareness of the Everlast professional line has led to increased sales and the signing of new licensing agreements." 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 $325 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 Joe Guzman Marketing Department Everlast Worldwide, Inc. 212-239-0990 adamg@everlast.com Gene Marbach and Ting Mei Chong Investor Relations Makovsky & Company Inc. 212-508-9600 |
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