Big Dog Holdings Inc. Files Registration Statement for Initial Public Offering.

SANTA BARBARA, Calif.--(BUSINESS WIRE)--Aug. 7, 1997--Big Dogs (proposed NASDAQ/NMS:BDOG) announced today that it filed a registration statement with the Securities and Exchange Commission for an initial public offering of 3.5 million shares of common stock.

The total size of the offering is expected to range from $42 million to $49 million at the filed price range of $12 to $14 per share of common stock. Of the 3.5 million shares being offered, 2.8 million are being sold by Big Dogs and 700,000 are being sold by the selling stockholders. The offering will be managed by Robertson, Stephens & Co. LLC, Hambrecht & Quist, LLC and Needham & Co. Inc.

Big Dogs develops, markets and retails a branded, lifestyle collection of unique, high-quality, popular-priced consumer products, including activewear, casual sportswear, accessories and gifts. The company distributes BIG DOGS(R) brand products through its own 134 retail stores and mail order catalog and through other channels including better department and specialty stores. Big Dogs employs over 1,000 people in 39 states and in England.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Copies of the preliminary prospectus relating to the offering may be obtained from Robertson, Stephens & Co. LLC, 555 California St., Suite 2600, San Francisco, CA 94104, 415/781-9700; Hambrecht & Quist LLC, One Bush St., San Francisco, CA 94104, 415/439-3300; or Needham & Co. Inc., 445 Park Ave., New York, NY 10022, 212/371-8300. -0-

The information contained herein is not a complete analysis of every material fact respecting any company, industry or security.

Although opinions and estimates expressed herein reflect the current judgment of the Firm, the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when they are, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice.

This news release contains forward-looking statements, which involve risks and uncertainties. The company's actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in the "Investment Risks."

Robertson, Stephens & Co. LLC from time to time performs corporate finance services for some companies described herein and may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the opinions and estimates herein.

Facts and other information discussed have been obtained from sources considered reliable but are not guaranteed. Robertson, Stephens & Co. LLC, its managing directors, its affiliates and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this press release is in circulation.

CONTACT: Big Dog Holdings Inc.

Jonathan S. Howe, 805/963-8727