Aug 28, 2007

Gift Giant(R) Signs Agreement With Santa’s Pen(R) to Operate 77 Ornament Carts

Central Islip, NY – The Gift Giant, Ltd.(R), a leading resource for wholesale personalized gifts and creator of the “Personalized By Santa”(R) holiday ornament cart concept, today announced that it has entered into an agreement with Joseph K. & Company, LLC, the owner of the “Santa’s Pen” branded ornament cart program, to operate 77 “Santa’s Pen” ornament carts at select malls throughout the United States.

As a result of the agreement, Gift Giant’s holiday cart program will now be available in 352 malls throughout the U.S. during the 2007 holiday season.

Under the terms of the agreement, these ornament carts will be operated under the “Santa’s Pen” name and will be under operational management of Gift Giant.

Michael Brielmann, President and Chief Executive Officer, said, “This agreement gives Gift Giant a much larger footprint in key markets throughout the U.S. and a stronger market position during the 2007 holiday season. In addition to the more than 278 “Personalized By Santa” ornament carts that we have negotiated on or own, the additional “Santa’s Pen” carts will offer our customers incredible access to the most diverse and attractively priced product line in the industry. We are very excited to offer such an outstanding product mix of Gift Giant, Santa’s Pen, Deb & Co., and Kurt Adler personalized Christmas ornaments, stockings, table toppers, and other holiday gifts. At the same time, we will generate significant sales revenue and profits to increase our market position in 2008 and beyond.”

Karen E. Sotomura, President of Joseph K. & Company, LLC, commented, “I would like to announce the collaboration of Joseph K. & Company (“JKC”) and Gift Giant (“GG”), and our respective specialty retailing programs: “Santa’s Pen”(R) and “Personalized By Santa”(R) (“PBS”). With the constant evolution of the specialty retailing industry and the manner in which mall leases are now awarded, we have made the complex decision to accept GG as one of our “Santa’s Pen” operators. GG will be operating a majority of our RMU locations at General Growth Properties and Simon Properties under our “Santa’s Pen” tradename. This is by far the largest undertaking by any single independent operator, but GG’s experience in this industry will no doubt assure its success as a Santa’s Pen operator.”

Sotomura further stated, “We have always been known for our attractive designs and we are pleased to announce that they will now not only be available through our “Santa’s Pen” independent operators, but also through GG’s “Personalized By Santa” carts. “Santa’s Pen” pioneered the concept of personalized ornament carts in 1995, and for the past 13 years has been the industry leader in independently owned and operated holiday carts. Together with GG / PBS and all of our other independent operators, we hope to continue our long-standing tradition of warming hearts and homes during the holidays for many more Christmases to come.”