Elizabeth Arden; AEFFE S.p.A. Sign Licensing Agreement

Elizabeth Arden, Inc. has entered into an exclusive long-term global licensing agreement with AEFFE S.p.A. for the development, marketing and distribution of fragrance, cosmetics and skin care products with fashion designer Alberta Ferretti. A debut fragrance is planned to launch in the spring of 2009. Elizabeth Arden will produce and market the fragrance collections with creative direction for the scents to come from Alberta Ferretti herself.

"Alberta Ferretti is an icon in the world of fashion design, and we are thrilled to be working with her to create a fragrance line that reflects the sensibilities of her style," said E. Scott Beattie, chairman and CEO, Elizabeth Arden. "Adding the Alberta Ferretti name to our designer fragrance brands allows us to diversify our fragrance brand portfolio and strategically expand our reach of prestige fragrance distribution, particularly in the European fragrance market."

"I'm extremely proud to embark on the adventure of creating my fragrance with Elizabeth Arden," said Ferretti. "The history of Elizabeth Arden in the world of beauty is characterized by a distinct definition of femininity that is quite close to my own world, in which beauty, femininity and sensuality emanate from the personality. I am convinced that this collaboration will result in a remarkable fragrance that will express the contemporary nature of a woman who lives in the present yet looks to the future," she added.

"The signing of the agreement for Alberta Ferretti fragrances with Elizabeth Arden guarantees the same standards of quality and excellence which are synonymous with those of our brand," said Ferretti, chairman, AEFFE S.p.A. "Moreover, the leadership held by this American company in the fragrance sector enables us to realize a commercial development focused also on prestige and quality factors."

Financial terms of the agreement were not disclosed.
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