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House of Taylor Jewelry Inc. secures additional financing and strengthens capital structure

October 15, 2007

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House of Taylor Jewelry Inc. has announced new initiatives that will strengthen its financial structure. The company will be securing a $30 million credit facility, issuing 6.1 million shares of common stock at $0.95 per share, and repaying the balance of its senior secured convertible notes with funds from the aforementioned credit facility and equity financing.

President and Chief Executive Officer Jack Abramov said the initiatives will allow the company to meet demand, ramp up production and distribution, and continue expansion of the Elizabeth Taylor and Kathy Ireland brands.

Now that the financial plan has been delivered, Bob Rankin, chief financial officer, has agreed to assume the role of chief operating officer.
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