Perfumania.com Plans Initial Public Offering

Miami-based online fragrance retailer Perfumania.com Inc. a subsidiary of
Perfumania Inc., a national perfumery chain, said it plans to make an initial
public offering of its common stock.

The company said it intends to raise $15 million to $20 million and
anticipates offering shares representing approximately 33 percent of the company.
The company said it intends to file a registration statement for the offering
within the next 60 days.

The net proceeds of the offering will be used for working capital and other
general corporate purposes including potential acquisitions and repayment of
debt.

Perfumania.com, Inc. was incorporated in January 1999 as a subsidiary of
Perfumania Inc. and is an online retailer of perfumes and fragrance-related
products.

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