Elegant Illusions, Inc. Reports Store Closures

PACIFIC GROVE, CA--(Marketwire - Sep 7, 2012) - Elegant Illusions, Inc. (PINKSHEETS: EILL) announces that they will be closing their Riverwalk Marketplace location in New Orleans, LA on October 31, 2012 or sooner due to the mall closing to rebrand as a factory outlet and renovate. The Vail, CO location is currently closed and in escrow for sale and under lease. Should the escrow not close the buyers have committed to a two year lease.

Elegant Illusions, Inc. is engaged primarily in the created gem jewelry business with 8 specialty stores across the continental United States. The Company also has art galleries in Carmel, Vail and New Orleans that are contributing a greater share of sales to the Company.

This release includes certain forward-looking information. This forward-looking information involves certain risks and uncertainties which could cause actual results to differ materially from those discussed herein including, but not limited to, risks relating to changing economic conditions, competitive pressures and changes in expenses (such as changes in labor, rent and/or inventory purchase costs). Forward-looking information generally is information stated to be anticipated, expected or projected by the Company. We caution readers that any such forward-looking statements are based on our current expectations and beliefs but are not guarantees of future performance. Actual results could differ materially from those expressed or implied in the forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.