Fashion icon Linda Lundstrom emerges for another curtain call

    - Eleventh Floor Apparel Ltd. announces purchase of Linda Lundstrom
    brand -

    TORONTO, April 2 /CNW/ - The fashion brand created by designer Linda
Lundstrom has been purchased by Canadian company, Eleventh Floor Apparel Ltd.,
which now owns the rights to the Lundstrom name, assets and manufacturing
plant of the former company, Linda Lundstrom Inc. (LLI). The purchase was
announced two months after LLI filed a Notice of Intention to file a Proposal
under the Bankruptcy & Insolvency Act of Canada on January 31, 2008. As
Eleventh Floor Apparel Ltd. restructures the former business model of LLI to
ensure the success and profitability of the Lundstrom brand in the future,
Linda Lundstrom remains in the role of Chief Creative Officer. Under the new
ownership and management structure, Lundstrom will focus solely on designing
her seasonal collections.
    "We are incredibly excited and honoured to be working with a true talent
in the Canadian fashion world such as Linda Lundstrom," said Karen Spisak,
vice-president of brand development, Eleventh Floor Apparel Ltd. "The
Lundstrom brand is synonymous with beautiful clothing, inspirational stories
and real women dressing for real life. Linda's designs for the upcoming season
are stunning - her best ever - and we are thrilled to be able to bring this
collection to her loyal retailers and customers in North American and European
markets - albeit, fashionably late!"
    Eleventh Floor Apparel Ltd. will focus on growing the business through
strategic marketing campaigns supported by a strong financial infrastructure.
The Company has called back the majority of LLI's employees to their former or
newly created positions and will continue the valued relationships with the
same distributors and suppliers that LLI has worked with for many years.
    While the three Linda Lundstrom Inc. brand stores in Toronto and Niagara
Falls have been closed, most of LLI's former retailers in Canada and the US
will continue to carry Lundstrom collections, including Spring/Summer 2008
which is already being shipped to retail locations across North America and
the UK.
    "With the closing of my business, I hoped for a miracle that would allow
me and my team to continue to work together, doing what we love," says Linda
Lundstrom, chief creative officer, Eleventh Floor Apparel. "This partnership
is truly a gift because, as opposed to other offers to license my name and
manufacture offshore, Eleventh Floor Apparel Ltd. values what my brand stands
for and what I represent as a designer. Under their business guidance, my
creativity will flourish and my designs will benefit from being able to
concentrate on what I do best - making women look and feel beautiful."
    Eleventh Floor Apparel Ltd. is dedicated to continuing to manufacture the
Lundstrom brand in Canada in their newly acquired state-of-the-art, lean
manufacturing facility in the East York area of Toronto. In addition, the
Company will be investigating potential partnerships with other Canadian
designers who will benefit from the creative and business support of the
Eleventh Floor Apparel Ltd. manufacturing headquarters.
    "Through this acquisition, I had the pleasure of meeting many of Linda's
customers, all of whom are so emotionally connected to the brand," continued
Spisak. "These 'Lundstrom Loyalists,' along with the outpouring letters of
support that Linda received during her bankruptcy, confirmed that we made the
right decision in acquiring this brand and keeping the community of women
connected to it alive."
    Linda Lundstrom Inc. (LLI) was founded in 1974 by Canadian fashion
designer Linda Lundstrom and grew to be one of Canada's best-known fashion
brands with over 100 employees, three flagship stores and over 450 independent
boutiques throughout North America. In late January of 2008, Linda Lundstrom
Inc. filed for bankruptcy citing significant business reversals in 2007,
compounded by the high Canadian dollar and other factors in the retail
environment. Further information on LLI can be found at
www.lindalundstrom.com.
    The Company has not disclosed any financial information regarding the
acquisition.

    About Eleventh Floor Apparel Ltd.
    ---------------------------------
    Eleventh Floor Apparel is a Canadian company owned and operated by a
private investment fund. The Company's mandate is to design, manufacture and
distribute beautiful clothing worldwide. The Company acquired the assets,
brand and manufacturing plant of the former Linda Lundstrom Inc. (LLI) on
March 31, 2008.

For further information: To schedule an interview with Karen Spisak, VP
of Brand Development, or Linda Lundstrom, please contact: Dita Zemanek, Cohn &
Wolfe, [phone] ext. 4032, [e-mail], Shawna Rossi, Cohn
& Wolfe, [phone] ext. 4079, [e-mail]