Exhibit 99.2
SAMUELS
A Diamond Tradition Since 1891
2914 Montopolis Drive, Suite 200
Austin, Texas 78741
Main (512) 369-1400, Fax (512) 369-1500
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CONTACT:
Randy N. McCullough
President & CEO
Phone: 512-369-1445
FOR IMMEDIATE RELEASE
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SAMUELS JEWELERS ANNOUNCES
SEARCH FOR NEW CHIEF FINANCIAL OFFICER
Austin, Texas - November 17, 2000 -- Samuels Jewelers, Inc., (Nasdaq OTC
Bulletin Board SMJW), one of America's largest specialty retailers of fine
jewelry, announced today that it has started a search for a chief financial
officer. In connection with the announcement, Samuels noted that the employment
of its former chief financial officer, E. Peter Healey, has recently ended.
Randy N. McCullough, President and Chief Executive Officer, stated, "As we begin
our search for a chief financial officer, we remain intensely focused on making
the upcoming selling season a great success, while continuing our goal of
improving financial results."
Samuels also announced that, as a result of the stockholders' election of its
board of directors at its annual meeting, held November 6, 2000, David B. Barr
has been named Chairman of the Board, and that the Board has been reduced in
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size from seven to six members, as Mr. Healey is no longer a director of the
Company. David H. Eisenberg, the former chairman, will remain as a Board member.
While the search for a chief financial officer is continuing, the duties of the
chief financial officer will be partially fulfilled by the Company's new
chairman, David B. Barr.
Samuels Jewelers, Inc. currently operates 200 stores in 26 states throughout the
country under the trade names Samuels Jewelers, Samuels Diamonds, Schubach
Jewelers and C & H Rauch Jewelers, and online at www.Samuels.cc,
www.SamuelsJewelers.com and www.JewelryLine.com.
Forward-looking statements in this press release and all other statements that
are not historical fact are subject to risks and uncertainties, which may cause
the company's performance to vary. Specific risks include, but are not limited
to, industry competition factors and other risks identified in the Company's
filings with the Securities and Exchange Commission.
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