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Investment in Slippers

From: ASAP

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The Daniel Green Company (Nasdaq: DAGR) announced today that it entered into a definitive agreement with Elan-Polo, Inc. to sell its Daniel Green and L.B. Evans brands, along with related assets, effectively exiting the slipper business. Elan-Polo is a St. Louis, Missouri, based private footwear company. Going forward, Daniel Green plans further investments to support the growth of its two footwear brands, SoftWalk and Trotters, which have experienced revenue growth well in excess of 25% for the 2001 year.

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