Elizabeth Arden, Inc. Announces It Exceeds Second Quarter Earnings Guidance;

Announces Intention to Amend Credit Facility and Extend Maturity to January 2016; and

Announces Cash Tender Offer for Any and All of Its Outstanding $220 Million 7¾% Senior Subordinated Notes Due 2014

NEW YORK, Jan. 6, 2011 (GLOBE NEWSWIRE) -- Elizabeth Arden, Inc. (Nasdaq:RDEN), a global prestige beauty products company, today announced that, based on its preliminary results, the Company expects for its second fiscal quarter ended December 31, 2010 that net sales will be at or above the high end of its previously issued guidance of $393 million to $403 million, and earnings per diluted share will exceed prior guidance of $0.90 to $1.00 that was issued on November 4, 2010. The Company intends to release results for its second fiscal quarter and comment on its full fiscal year 2011 guidance on February 3, 2011.

The Company also announced that it intends to enter into an amended and restated asset-based revolving credit facility.  Among other things, the maturity date of the credit facility will be extended to January 2016 from December 2012. In addition, based on the Company's expected usage of its bank facility for working capital requirements, the bank facility size will be reduced from $325 million to $300 million. The Company may increase the size of the credit facility by $75 million at any time without entering into a formal amendment. Borrowings under the Company's existing credit facility as of December 31, 2010 were $37 million.

The Company today also announced that it has commenced a tender offer to purchase any and all of its outstanding $220 million in aggregate principal amount of 7¾% Senior Subordinated Notes due 2014 (the "7¾% Notes") through a cash tender offer with the net proceeds from the Company's concurrent private placement of $225 million in aggregate principal amount of Senior Notes due 2021 (the "New Notes"), which was also announced today by the Company. The tender offer is being made pursuant to an offer to purchase and a related letter of transmittal, each dated as of January 6, 2011.  The tender offer will expire at midnight, New York City time, on February 3, 2011 (as such time and date may be extended, the "expiration date").