SmartBargains, Inc. Appoints New Chairman and Acting CEO

SmartBargains, Inc. Appoints New Chairman and Acting CEO

SmartBargains Board Member and Former CEO of Home Shopping Network Brings Strong Track Record of Retail Industry Leadership

BOSTON, Jan. 26 /PRNewswire/ -- SmartBargains, Inc., a leading online retailer, today announced that its Board of Directors has named James G. Held chairman of the board and acting chief executive officer. Carl S. Rosendorf, SmartBargains' previous CEO, will continue in his role as director and will become an advisor to the company.

"On behalf of the Board, I would like to thank Carl for his four years of dedicated service to SmartBargains. During his tenure, the company grew at a compound annual growth rate of more than 100 percent, and we anticipate that 2004 revenues will be our best ever," said SmartBargains Director and former Federated Group CEO Norman S. Matthews. "That's a phenomenal accomplishment," continued Matthews.

"We welcome Jim and thank him for lending SmartBargains his expertise and guidance," added fellow director and Gordon Brothers Group Chairman Michael G. Frieze. "SmartBargains will undoubtedly benefit from his leadership and experience with online commerce."

Mr. Held, who has served on SmartBargains' board since early 2004, is president of JPBK Consulting, Inc. and oversees his charitable foundation. He has served in numerous senior executive management positions during his more than two decades in the retail industry. From 1995 to 2000, he served as CEO of Home Shopping Network (HSN) and served as vice chairman from 1996 to 1998. He was previously chairman and CEO of Adrianne Vittidini, Inc. Prior to that, he served as executive vice president of QVC, Inc.

About SmartBargains, Inc.

SmartBargains, Inc. is an online retailer of high quality, excess merchandise offered at an average of 50 percent off everyday retail prices. The company sells thousands of brand name and high-quality products across a variety of departments, ranging from home goods to apparel to electronics. For more information about SmartBargains, Inc., please visit http://www.smartbargains.com/.

"SmartBargains" and "smartbargains.com" are registered service marks of SmartBargains.

For more information, contact:
Erik Clausen
Horn Group
(781) 356-7159
eclausen@horngroup.com


Source: SmartBargains, Inc.

CONTACT: Erik Clausen of Horn Group, +1-781-356-7159,
eclausen@horngroup.com

Web site: http://www.smartbargains.com/


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