Spielboy Issue 5

Spielboy sells t-shirt, improves bottom line

Tuesday July 15, 2003 9:00 am ET

BOSTON, July 15, 2003 -- Spielboy (www.spielboy.com) today announced that it has sold its first t-shirt. The t-shirt is 100% cotton and preshrunk.

"I am confident we will deliver another quarter of broad-based performance in a tough economy, with our businesses achieving double-digit earnings growth while we manage through the downturn," said Spielboy Principal M. Horn. "At the same time, we plan to make further progress on building the foundation of our future growth."

The t-shirt purchaser, Ralph G. of Medford, Massachusetts, said, "I picked up an x-large. Transaction was good." He declined to give a last name. The order was placed on Saturday, July 12, but it wasn't until Monday that Spielboy representatives discovered it had been purchased. "Since Cafepress handles order-placement, billing, and fulfillment for us, we just never know when that t-shirt is gonna get bought," Horn said.

T-shirts, spaghetti tanks, panties, thongs, and boxer shorts make up a large share of the Spielboy catalog. Those items, plus prints of the Spielboy Game Girl and affiliation sales with BoulderGames.com and Funagain.com are Spielboy's only current revenue streams.

"The year is turning out as planned," Horn said. "As expected, the initial costs of launching the site created earnings pressure. However, we are executing with broad-based strength to generate significant growth in the second half."

NOTE: This press release may contain forward-looking statements.

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