ELIZABETH ARDEN, INC.
[Red Door Logo]
FOR IMMEDIATE RELEASE
Elizabeth Arden, Inc. Announces Closing of Private Placement of
7 3/4% Senior Subordinated Notes due 2014
~ Net Proceeds to Redeem 11 % Senior Notes and 10 3/8% Senior Notes ~
~ Calls for Redemption Remaining 10 3/8% Senior Notes Outstanding ~
- -----------------------------------------------------------------------------
New York, New York (January 13, 2004) -- Elizabeth Arden, Inc. (NASDAQ: RDEN),
a global prestige fragrance and beauty products company, today announced that
it completed its previously announced offering of $225 million aggregate
principal amount of 7 3/4% Senior Subordinated Notes due 2014 (the "7 3/4%
Notes"). The Company also announced it has called for redemption $84,285,000
aggregate principal amount of its 10 3/8% Senior Notes due 2007 (the "10 3/8%
Notes"), representing all outstanding principal amounts that have not
previously been called. The redemption date will be February 12, 2004.
The sale of the 7 3/4% Notes resulted in net proceeds to the Company of
approximately $219.0 million. The Company will use the net proceeds from the
sale of the 7 3/4% Notes to purchase any and all 11 3/4% Senior Secured Notes
due 2011 that are tendered pursuant to its cash tender offer announced on
December 24, 2003, as well as approximately $95 million aggregate principal
amount of 10 3/8% Notes. The cash tender offer expires January 22, 2004
unless extended by the Company.
The 7 3/4% Notes were sold pursuant to Rule 144A and Regulation S under the
Securities Act and have not been registered in the United States under the
Securities Act or in any other jurisdiction and may not be offered or sold in
the United States absent registration or an applicable exemption from the
registration requirements.
Elizabeth Arden is a global prestige fragrance and beauty products company.
The Company's portfolio of leading brands includes the fragrance brands Red
Door, Red Door Revealed, Elizabeth Arden green tea, 5th Avenue, ardenbeauty,
Elizabeth Taylor's White Diamonds, Passion, Forever Elizabeth and Gardenia,
White Shoulders, Geoffrey Beene's Grey Flannel, Halston, Halston Z-14,
Unbound, PS Fine Cologne for Men, Design and Wings; the Elizabeth Arden skin
care line, including Ceramide and Eight Hour Cream; and the Elizabeth Arden
cosmetics line.
Company Contact: Marcey Becker
Senior Vice President, Finance
(203) 462-5809
Investor Contact: Cara O'Brien/Lila Sharifian
Financial Dynamics
(212) 850-5600
Press Contact: Stephanie Sampiere
Financial Dynamics
(212) 850-5600
In connection with the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995, Elizabeth Arden, Inc., is hereby providing
cautionary statements identifying important factors that could cause our
actual results to differ materially from those projected in forward-looking
statements (as defined in such act). Any statements that express, or involve
discussions as to, expectations, beliefs, plans, objectives, assumptions or
future events or performance (often, but not always, through the use of words
or phrases such as "will likely result," "are expected to," "will continue,"
"is anticipated," "estimated," "intends," "plans" and "projection") are not
historical facts and may be forward-looking and may involve estimates and
uncertainties which could cause actual results to differ materially from those
expressed in the forward-looking statements. Accordingly, any such statements
are qualified in their entirety by reference to, and are accompanied by, key
factors set forth in our filings with the Securities and Exchange Commission,
including our most recent Annual Report on Form 10-K, that have a direct
bearing on our results of operations. We caution that those factors could
cause actual results to differ materially from those expressed in any
forward-looking statements we make and that investors should not place undue
reliance on any such forward-looking statements. Further, any forward-
looking statement speaks only as of the date on which such statement is made,
and we undertake no obligation to update any forward-looking statement to
reflect events or circumstances after the date on which such statement is made
or to reflect the occurrence of anticipated or unanticipated events or
circumstances. New factors emerge from time to time, and it is not possible
for us to predict all of such factors. Further, we cannot assess the impact
of each such factor on our results of operations or the extent to which any
factor, or combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements.
###