SOURCE: Bluestem Brands, Inc.

Bluestem Brands, Inc.

February 18, 2010 09:00 ET

Fingerhut Direct Marketing, Inc. Changes Its Name to Become Bluestem Brands, Inc.

Leading Nationwide Retailer Changes Name to Address New Multi-Brand Umbrella

MINNEAPOLIS, MN--(Marketwire - February 18, 2010) - Fingerhut Direct Marketing, Inc. announced today that it has changed its corporate name to Bluestem Brands, Inc. The renaming of the company signifies the company's progression from a catalog company to a multi-brand, multi-channel retailer. Bluestem Brands, Inc. will operate under its two retail brands: Fingerhut and Gettington.com.

The Fingerhut brand has delivered shop-at-home convenience and a wide selection of products to customers across the U.S. since 1948. In addition to its quality merchandise and selection, Fingerhut has provided moderate income Americans the flexibility to pay for their purchases over time.

The corporate name change comes on the heels of the company's successful September 2009 launch of its e-commerce brand, Gettington.com. With the online shopping experience in mind, Gettington.com provides customers great name brands and a huge assortment of products -- over 20,000 and growing. Gettington.com offers three ways to pay (Pay Now, FAST Option or EASY Option) via a persistent shopping bag and calculator to help customers decide what works best for their individual financial plans.

In addition to Fingerhut and Gettington.com retail brands, Bluestem Brands, Inc. also has several private label merchandise brands under its umbrella that include: Chef's Mark®, LifeMax®, McLeland Design™, Outdoor Spirit®, St. Croix Colors®, Super Chef®, and TestMark™. These private label brands are designed to deliver high quality products to our customers at affordable prices.

The name "Bluestem" originates from a Midwest prairie grass. Alongside its regional significance, the new entity name represents the energy and growth of the company since its relaunch in 2002.

Bain Capital Ventures and Battery Ventures remain majority investors and will retain the same interests in the renamed entity.

About Bluestem Brands, Inc.
Bluestem Brands, Inc. is a multi-brand retailer, delivering a wide selection of products and shop-at-home convenience through e-commerce and direct marketing via the Fingerhut and Gettington.com brands. In addition to offering a large selection of brand name products, each retail brand also offers a variety of credit options through its bank partner to provide families on a budget the flexibility of paying over time. Bluestem's corporate office is located in Eden Prairie, MN.

For more information please visit www.bluestembrands.com

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