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Bluefly Announces Management Changes

Stocks in this article: BFLY

Bluefly, Inc. (NASDAQ Capital Market: BFLY), a leading online retailer of designer brands, fashion trends and superior value, today announced that Joseph C. Park, previously Chief Operating Officer, has been promoted to Chief Executive Officer, effective immediately, replacing Melissa Payner, who resigned as Chief Executive Officer and a member of the Company’s Board of Directors. Mr. Park is also replacing Ms. Payner on the Board of Directors. Mr. Park joined Bluefly as Chief Operating Officer in June 2011 after founding and leading several successful Internet businesses during the past fourteen years.

David Wassong, Chairman of the Board, commented, “The promotion of Joseph to Chief Executive Officer recognizes his strong leadership skills and business acumen, as well as his exceptional contributions since joining Bluefly as Chief Operating Officer last year. I want to thank Melissa for her significant contributions since joining the Company as President in 2003. Melissa transformed Bluefly into a site for sought after luxury brands at tremendous value, serving more than 20 million unique visitors each year. While we are sad to see Melissa leave, the Board is highly confident in Joseph and in Bluefly’s future under his direction.”

Joseph C. Park, Chief Executive Officer of Bluefly, commented, “I am excited to take the helm as Chief Executive Officer of Bluefly. We have a highly recognizable brand, a loyal customer base and strong vendor relationships, and we are just beginning a new phase of expansion with the recent launch of Belle & Clive ( I look forward to working with the Board and the entire Bluefly team to take the Company to a higher level of growth.”

Melissa Payner stated: “I have been privileged to lead Bluefly over the past eight years and want to thank our employees and our vendor partners for their support and dedication. I am proud of the brand we have created and I am excited about Bluefly’s future.”

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