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James Gallagher Joins Bluefly As Chief Financial Officer

Bluefly, Inc. (NASDAQ Capital Market: BFLY), a leading online retailer of designer brands, fashion trends and superior value ( www.bluefly.com / www.belleandclive.com), today announced that James Gallagher has joined the Company as Chief Financial Officer. Mr. Gallagher comes to Bluefly with over 33 years of extensive financial, strategic and operations experience with growth oriented international, entrepreneurial and corporate entities across a broad range of industries, including Internet focused marketing, e-commerce, entertainment, and technology companies.

Most recently, Mr. Gallagher was CFO at Vertro, a publicly traded Internet search engine, marketing and technology company that manages a network of websites and builds and markets browser based consumer applications. Prior to his experience at Vertro, Gallagher owned and operated Gallagher Enterprises, a strategic financial and management consulting firm he founded in 2001, which provided strategic consultancy on financial and operational issues as well as structuring and funding resources to start-ups and high-growth companies with revenues up to $150 million. Prior to Gallagher Enterprises, Gallagher held senior financial and operations positions at a number of growth oriented entrepreneurial entities including Vice President, Chief Financial Officer and Secretary at technology company, VRex, Inc., and Chief Financial Officer at publicly traded international software technology company, Viz-rt, Inc. Mr. Gallagher has also held senior-level financial positions at companies including Infocus Employee Services (a XEROX spin-off), Medsite, Inc., Sony Music Entertainment, Inc., and Reiss Media Enterprises, Inc. In addition, Gallagher also spent 10 years as a Senior Audit Manager at the international accounting and consulting firm of Arthur Andersen LLP.

"We're pleased to announce James's appointment as our new Chief Financial Officer," commented Joseph C. Park, Bluefly’s Chief Executive Officer. "James has a proven financial and operations track record, and a wealth of highly relevant experience in growth-oriented businesses. We believe that adding James to our executive team will enable us to better capitalize on strategic and growth opportunities at this exciting time in our Company's evolution," continued Mr. Park.

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