Carolina Pottery to Close Five Outlets; Bargain Basement Sales Underway.

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--April 12, 2001

Universal Capital Partners, LLC ("UCP"), a Minneapolis-based retail consulting and liquidation firm, confirmed today that it is managing the liquidation sales for five Carolina Pottery outlets including two stores in South Carolina, and one store each in Kentucky, Tennessee and Georgia.

Carolina Pottery, headquartered in Smithfield, North Carolina, is a specialty retailer of housewares, crafts and decorative accessories. The Company currently operates seven retail outlets. Carolina Pottery recently filed for voluntary bankruptcy protection under Chapter 11 of Title 11 of the United States Code to allow it the time to restructure its operations.

Mike Catain, UCP President and Chief Executive Officer, said, "It's unfortunate when a quality retailer like Carolina Pottery, with a long and successful history, has to close some of its stores. We're pleased, however, to have submitted the winning bid to assist them with these store closings. Our management team, with years of merchandising experience, has strong capabilities in valuing and liquidating inventory in a very cost-effective manner. We have conducted going out of business sales in the past for numerous specialty and home decor retailers, including MJDesigns and Wangs International."

Shoppers can expect tremendous discounts on a broad array of home fashion items, including:

-- A huge assortment of silk and dried floral merchandise;

-- Home decor including furniture, lamps, area rugs and other decorative
accessories;

-- Kitchen gadgets, glassware, dinnerware and table linens;

-- An endless supply of candles and potpourri;

-- Seasonal items including Christmas greenery and accessories;

-- Home and garden items;

-- Baskets, framed art, picture frames and more!

Shoppers won't believe the deals -- savings of 10%-60% off retail prices! However, these kinds of deals won't last long so shoppers should come early for the best selection.

STORE SALE DETAILS

Sales have already started at the stores to be closed and include the following locations

STORE ADDRESS                  CITY                          ST
-------------                  ----                          --
3775 Avenue of the Carolinas   Fort Mill                     SC
1495 HWY 17 North              Mt. Pleasant                  SC
5238 Jewel Futch Rd.           Lake Park (Valdosta)          GA
354 Shadowtowne Rd.            Blountville                   TN
401 Outlet Center Dr.          Georgetown                    KY

Questions concerning the remaining locations in Smithfield, NC and Macon, GA as well as corporate information should be directed to Carolina Pottery's corporate office in Smithfield, North Carolina at 919-934-1157.

Universal Capital Partners, LLC is a full-service, retail consultant serving both retail management and asset-based lenders. Headquartered in Minneapolis, Universal Capital employs 75 people and has offices in New York and Greensboro, N.C. Universal Capital provides a variety of services including strategic store analyses, inventory evaluation, real estate restructuring, collateral monitoring and inventory liquidations. The company also maintains a credit facility in excess of $100 million to assist lenders and businesses with their funding and liquidity needs. Universal Capital has conducted liquidations in hundreds of locations throughout the United States, representing more than $400 million in retail inventory. The company's retail client list includes Jay Jacobs, Just for Feet, Pacific Linen, Sun Television and Appliances, MJDesigns, Three D Bed & Bath, West Lumber, Strouds, Wang's International, Carolina Pottery and LOT$OFF.