HOT JEANS LABEL TRUE RELIGION SIGNS A LICENSING AGREEMENT FOR HEADWEAR AND FOOTWEAR

According to reports, this trendy lifestyle brand is putting their headwear needs in the hands of Paramount Apparel International Inc. Paramount will design, develop and market the company's original branded headwear, scarves and gloves worldwide.

Other True Religion branded merchandise will include footwear, scarves, and gloves.

Under this exclusive agreement, GMI Corporation (based in Italy) has the worldwide rights to manufacture and sell True Religion branded men's and women's shoes, sneakers and boots, as well as sandals in both adult and children's sizes.

Paramount Headwear has over 75- years of experience designing, manufacturing, embellishing and sourcing headwear for leading fashion and athletic apparel companies, including Nike and Timberland. They plan to launch the new True Religion Brand Jeans program at MAGIC in February 2007 and begin delivering to retailers in the second quarter of 2007.

Terms of the deal were not disclosed, but Michael Buckley, president of True Religion Apparel Inc. said that "the combined minimum guarantees on the two licenses will contribute more than $9 million to their operating income over the life of the agreements."