SPRINGFIELD, MO: March 8, 2002: Decorize, Inc. (AMEX: DCZ), an emerging-growth provider of direct sourcing solutions for the global home décor market, announced that effective today its common shares began trading on the American Stock Exchange® (AMEX).
Decorize closed the market today at a share price of $3.65 with 8,600 in trading volume.
In 20 months of operations, Decorize has secured record orders, including $1.7 million from one of the nation's largest retailers. The Company has captured new and repeat business from its small and large-scale client base, translating to increased sales- up 28% in the quarter ended December 31, 2001 over the preceding quarter. The Company's current backlog exceeds $5 million.
Jon Baker, CEO of Decorize, stated, "We are extremely pleased to begin trading on the AMEX. Our team has worked tirelessly to increase sales and develop what we consider the industry's best value-oriented B2B sourcing model. As we implement additional growth strategies, an AMEX listing will complement our ability to enhance shareholder value by reaching a greater number of market makers and institutions with our story."
Decorize applies a value-oriented technology, logistics and sourcing model and exclusive overseas network (covering Thailand, Vietnam, the Philippines, Indonesia, Hong Kong and China) to deliver small and large scale retailers dramatic cost savings in the import of furniture-related goods from the Far East.
About Decorize, Inc.
Decorize, Inc. is the proprietor of a breakthrough sourcing, logistics and technology model that reduces the non-value added costs that have traditionally been channeled into the home furnishings category. The Company strips away layers of handling and storage steps to deliver products directly from the Far East to the doors of retailers, at unprecedented cost savings. Decorize has served more than 2,000 small and large retail accounts, including national brand names Dillard's, Rooms To Go and Sears - The Great Indoors.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.