Exhibit 99
FOR IMMEDIATE RELEASE Contact: Jerold R. Kassner
August 4, 2000 Swank, Inc.
Attleboro, MA 02703
(508) 222-3400
SWANK, INC.
ATTLEBORO, MASSACHUSETTS
SWANK, INC. ANNOUNCES 1-FOR-3 REVERSE STOCK SPLIT
ATTLEBORO, MASSACHUSETTS, August 4, 2000--SWANK, INC.
(Nasdaq:SNKI), announced today that the Company's stockholders
approved a proposal to amend the Company's Restated Certificate
of Incorporation to effect a 1-for-3 reverse stock split of the
Company's issued shares of Common Stock and the reverse split has
become effective. Beginning on August 7, 2000, the Company's
Common Stock will be listed under the symbol "SNKID" for 20
trading days. The reverse split was undertaken primarily to
increase the price of its shares of Common Stock to comply with
the $1 minimum bid price requirement for continued listing on the
Nasdaq SmallCap Market. The Company believes that maintaining
the Company's listing on the Nasdaq SmallCap Market may provide
the Company with a broader market for its Common Stock and
facilitate the use of its Common Stock in any financing or
acquisition transactions in which the Company may engage.
Swank manufactures and markets men's and women's jewelry,
belts and personal leather goods. The Company distributes its
products to retail outlets throughout the United States and in
numerous foreign countries. These products, which are known
throughout the world, are distributed under the names "Kenneth
Cole", "DKNY", "Claiborne", "Guess?", "Anne Klein", "Anne Klein
II", "Geoffrey Beene", "John Henry ", "Pierre Cardin", "Colours
by Alexander Julian", and "Swank". Swank also manufactures
jewelry and leather items for distribution under private labels.
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This press release contains forward-looking statements which
are based upon current expectations and involve certain risks and
uncertainties. Under the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, readers should note
that these statements may be impacted by, and the Company's
actual performance and results may vary as a result of, a number
of factors, including general economic and business conditions,
competition in the men's and women's accessories and jewelry
markets, continuing sales trends, pricing and consumer
preferences.
