Bluefly.com Launches Radio Broadcast Campaign.

NEW YORK--(BUSINESS WIRE)--Nov. 1, 1999--

Bluefly, Inc. (NASDAQ SmallCap: BFLY), a leading online outlet for designer fashions and home furnishings (www.bluefly.com), announced today that it has expanded its offline marketing campaign to include radio advertising. The campaign, which was developed by Bates USA, features a flamboyant, fictional talk show host interviewing guests ranging from an outlet mall owner to Santa Claus.

The broadcast campaign launched this morning and will run for the entire holiday season, airing frequently throughout each day on major New York radio stations, including Z-100 and 95.5 WPLJ. "Debuting the broadcast campaign with such significant reach and frequency in the fashion capital of the world will not only drive traffic to our site, but will further solidify our brand image and enhance our standing in the fashion industry," said Ken Seiff, Chief Executive Officer of Bluefly.com.

Bluefly, Inc. is a NASDAQ SmallCap public company headquartered in New York City at the intersection of Fashion Avenue and the Information Superhighway. Distinguishing itself with discounts of up to 75%, over 200 designers and a 90 day money back guarantee, Bluefly.com aims to be the world's first full service outlet store for designer fashions. Its innovative MyCatalog feature is designed to eliminate the "hit-or-miss" aspect of off-price shopping by allowing shoppers to see only their favorite products and brands that are available for sale in their sizes. The online merchant has established strategic alliances with many of the most visited Web Sites and portals including AOL, Excite, Go Network, Lycos, MSN, Netcenter, Tripod, Women.com and Yahoo!. For more information, visit www.bluefly.com.

This press release may include statements that constitute "forward-looking" statements, usually containing the words "believe", "project", "expect", or similar expressions, including statements relating to the Company's ability to launch its redesigned Web site within the time frame discussed above. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. The risks and uncertainties are detailed from time to time in reports filed by the company with the Securities and Exchange Commission, including Forms 8-A, 8-K, 10-QSB, and 10-KSB. These risks and uncertainties include, but are not limited to the following: the competitive nature of the business and the potential for competitors with greater resources to enter such business; risk of litigation for sale of unauthentic or damaged goods and litigation risks related to sales in foreign countries; consumer acceptance of the Internet as a medium for purchasing apparel; the Company's limited working capital and need for additional financing; recent losses and anticipated future losses; the startup nature of the Internet business; the capital intensive nature of such business (taking into account the need for advertising to promote such business); the dependence on third parties and certain relationships for certain services; the successful hiring and retaining of personnel; the dependence on continued growth of online commerce; rapid technological change; year 2000 issues; online commerce security risks; governmental regulation and legal uncertainties; management of potential growth; and unexpected changes in fashion trends.