SOURCE: Lyric Jeans, Inc.

December 19, 2007 07:13 ET

Lyric Jeans Year End Summary

LOS ANGELES, CA--(Marketwire - December 19, 2007) - Lyric Jeans, Inc. (PINKSHEETS: LYJN) is pleased to provide its shareholders with a year-end report reviewing the company's progress and advances in 2007. Over the last 12 months the company has concentrated its efforts on developing Lyric Culture as a lifestyle brand and expanding beyond the denim category.

"We are focused on establishing Lyric Culture as a valuable intellectual property that can be translated into a variety of lucrative product categories," said Hanna Rochelle Schmieder, President of Lyric Jeans, Inc. "Lyric Culture is a lifestyle based on music. We've laid the foundation and now the sky is the limit," she continued.

"The roll out of the LYRIX brand extension in conjunction with 'American Idol' for the tweener market is just the beginning of a very exciting 2008," said Ron Halperin, CEO of Lyric Jeans, Inc. "With our company's licensing deals, strong creative, strategic entertainment marketing and music industry relationships, we've found a niche and are in a unique position to capitalize on it," he continued.

In 2007 Lyric Jeans:

--  Sold its premium lifestyle brand Lyric Culture to more than 200
    specialty boutiques in over 125 cities domestically. The company began
    shipping goods in June 2007 and to date has manufactured and shipped
    approximately 12,000 units.
--  Participated in all of the major industry trades shows such as The
    Fashion Coterie, Intermezzo, Project Las Vegas, Stylemax in Chicago and
    Traffik in Miami.
--  Expanded its distribution and opened showrooms in Los Angeles, New
    York and Dallas.
--  Presented a full-length runway show of its Revolution Collection with
    a performance by Grammy winning artist Fergie.
--  Forged marketing associations with Warner Bros. for major motion
    pictures such as "Music & Lyrics" and "August Rush" and Sony Pictures for
    "Across the Universe."
--  Designed windows at Lisa Kline in Los Angeles, GC Williams in New York
    and the Mirage in Las Vegas.
--  Developed, manufactured and shipped its follow-up collection titled
    "Fever" dedicated to the disco era.
--  Secured a licensing deal with "American Idol" for a diffusion brand
    targeted to the tweener demographic.
--  Successfully conducted sales on its e-store
--  Designed a collection inspired by the music of legendary Australian
    rock group INXS.
--  Received mainstream press coverage in The Wall Street Journal,
    CNBC/The Big Idea with Donny Deutsch, Women's Wear Daily, People Magazine,
    InStyle Magazine, Marie Claire, Rolling Stone, Billboard, InTouch Weekly,
    LA Weekly, Japanese Vogue, French Glamour, Access Hollywood, The Style
    Network, Teen Magazine, Stuff Magazine, Reuters and many more.

In 2008 Lyric Jeans, Inc. plans to increase its sales force and thereby its distribution domestically and internationally. The company intends to launch its diffusion brand LYRIX in conjunction with American Idol. Lyric Jeans, Inc. will continue growing its business by establishing Lyric Culture as the leading rock n' roll lifestyle brand through strategic marketing, publicity and various licensing and merchandising deals.

Lyric Culture uses the words of legendary artists in the design of apparel and accessories. Every item in the collection reflects the personality, style and flare of the artist and song through its design. Lyric Culture honors these artists and their timeless words by fusing high fashion and music in a groundbreaking way, allowing the wearer to express themselves through the words of a classic song -- a modern twist to wearing your heart on your sleeve (and pant leg)!

Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding Lyric Jeans Inc. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Lyric Jeans Inc. does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

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