Baker Street Capital, L.P. Files Early Warning Report Concerning Its Shareholdings in Danier Leather Inc.

LOS ANGELES, CALIFORNIA--(Marketwire - June 16, 2011) -

NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Baker Street Capital, L.P. ("Baker Street") announced today that it has filed an early warning report concerning its shareholdings in Danier Leather Inc. ("Danier").

As of January 27, 2011 (the date of its last early warning filings), Baker Street beneficially owned 551,500 subordinate voting shares ("Subordinate Voting Shares") of Danier, representing approximately 15.85% of the then issued and outstanding Subordinate Voting Shares.

Baker Street subsequently carried out the following purchases and sales of Subordinate Voting Shares:

Consequently, as at the date hereof, Baker Street beneficially owns 484,700 Subordinate Voting Shares, representing approximately 13.74% of the issued and outstanding Subordinate Voting Shares.

The purchases and sales of Subordinate Voting Shares described herein took place through the facilities of the Toronto Stock Exchange.

Baker Street made the above-noted acquisitions and dispositions for investment purposes. It may decide to acquire or sell additional Subordinate Voting Shares in the future but has no specific intention to do so at this time.

For further information (and to obtain a copy of the early warning report prepared by Baker Street in accordance with Canadian securities laws), please contact please contact Vadim Perelman of Baker Street Capital, L.P., 12400 Wilshire Blvd., Suite 940, Los Angeles, California 90025, USA, by phone at (212) 464-8416 or via email at vadim@bakerstreetcapital.com.