Epicenter Retail Format Enriches the Multi-Channel Shopping Experience; Brings New and Unique Merchants Into Shopping Centers.

GREENWICH, Conn. -- Launch of the Epicenter Collection Provides Growth Opportunity for Direct Merchants, and Creates a New Use for Anchor Locations

Epicenter Holdings, Inc., an affiliate of Sheldon Gordon, chairman of Gordon Group Holdings, today introduced the Epicenter Collection, bringing together in high-profile shopping center anchor locations a unique assortment of direct marketing and retail brands never before seen together in a retail environment. The Epicenter Collection is expected to generate unprecedented excitement among consumers while giving shopping centers the ability to re-invigorate or re-purpose strategic anchor locations. Epicenter's stunning architectural format provides each of its merchant partners with a totally branded retailing space, and its patent-pending technology enables consumers to shop among merchants using the revolutionary BUYpod(TM) hand-held shopping device.

The Epicenter Collection is the brainchild of Sheldon Gordon, the visionary developer of renowned world-class retail and entertainment properties. Gordon has assembled an experienced management team to roll out the Epicenter Collection, both nationally and internationally.

Epicenter will be exhibiting at the 2005 International Council of Shopping Centers Conference (ICSC) at the Las Vegas Convention Center (Glimcher booth #2155, Twenty-First Avenue) May 22-25 in Las Vegas. The company will also exhibit May 23-25 at the 2005 Annual Catalog Conference (ACC) at the Gaylord Palms Resort (Epicenter booth #423) in Orlando, Fla.

"In a multi-channel world, consumers expect merchants to have retail stores," said Antony Lee, CEO of Epicenter. "Epicenter provides merchants and brands a way to open successful stores at a fraction of the cost of traditional retail locations. In addition, we provide our merchant partners with a complete systems package to make their entry into retailing as effortless and inexpensive as possible."

"I believe there is a great opportunity to re-invigorate anchor locations with our Epicenter Collection," said Sheldon Gordon, chairman of Gordon Group. "In particular, our BUYpod(TM) hand-held devices will allow consumers to shop across stores, making the Collection greater than the sum of its parts."

Growth in Multi-Channel Retailing Leads to Demand for New Retail Spaces

The growth of online and catalog companies has given rise to the need for these merchants to open retail stores as a way to execute their multi-channel strategies. Recent studies have shown that customers purchase substantially more from a single brand when they can access the brand through multiple channels. Following on from the first wave of direct merchants to create substantial retail businesses, such as Williams-Sonoma, Sharper Image and J. Jill, the Epicenter Collection now affords the opportunity for today's highly successful catalogers, e-tailers and brands to open retail stores in some of the nation's premier shopping destinations with lower risk.

"The Epicenter business model presents a means for direct marketers and branded manufacturers to establish a bricks and mortar retail presence," said Jim Hersh, COO/CFO of Petals Decorative Accents LLC, the premier direct provider of silk flowers and accessories. "We think this strategy is an excellent solution that provides existing and prospective customers an exciting shopping environment and a way of experiencing the actual product before making a purchase."

By opening stores in the Epicenter Collection, not only will merchants create profitable retail businesses, but millions of consumers will see their brand on a regular basis, thereby driving more business to their Web and catalog channels.

Real Estate Trends Favor Rapid Expansion of Epicenter Collection Sites

The recent wave of consolidation in the department store industry has left shopping center developers and owners scrambling to find profitable alternate uses for anchor locations. Even some of the best shopping centers in the country are impacted by this trend. By utilizing anchor locations as the foundation for its Epicenter Collection sites, Epicenter Holdings offers developers and owners a new shopping venue which is guaranteed to generate substantial consumer excitement.

"There is a tremendous need for a new retailing format that brings unique merchants and merchandise into the malls," said Ray Carew, Epicenter's EVP for business development and who as a partner in GCD Consultants has worked with some of the nation's leading retailers in locating shopping center spaces. "This is a win-win for owners and developers on the one hand, and on the other, also for merchants who can leverage the mall's existing traffic and location."

Today's Merchants See Significant Obstacles in Opening Traditional Stores

The main reason underlying the scarcity of new retailing concepts has been the cost and complexity faced by merchants in opening stores. A new store can cost between $150-$500 per square foot to build, and landlords traditionally require long-term leases. In addition, new retailers need to invest in retailing systems and establish a separate management team.

The Epicenter Collection has been designed specifically to make the merchants' transition into retail as easy and as cost-efficient as possible. "We provide a complete range of services for our merchant partners," said Rich DiDonato, SVP for business development with Epicenter, formerly with Coach Store and Danskin and an expert in retail operations. "We will help to design and build their stores, recruit and train personnel, and ensure that their daily operations run smoothly in each location."

In addition, Epicenter provides each merchant with a complete retailing systems package, interfaced to their current operating systems. "The Epicenter system is a total solution for both merchants who wish to sell inventory from their store and those who wish to showcase individual items in the store for home delivery," said Ann Gambardella, Epicenter's CIO and formerly with Columbia House and Barnes & Noble. "The BUYpods(TM), touch-screen kiosks and the other hardware that we put into each Epicenter are completely integrated with the systems package that we make available to our merchants."

The first Epicenter Collection is expected to open in 2006 at the Polaris Fashion Place in Columbus, Ohio. This site is owned by Glimcher Realty Trust (NYSE: GRT) and was chosen because of its position at the center of one of the fastest-growing, upscale communities in the country. It is regularly visited by more than 6 million consumers each year. Plans are under way to open 100 Epicenters, both in the United States and abroad.

About Epicenter

The Epicenter Collection brings together, in high-profile anchor locations, a collection of leading catalogers, e-tailers, retailers and well-known brands into a single, architecturally stunning retailing space where each merchant can create their own store environment, yet also benefit from the power and consumer appeal of the entire collection. For consumers, the Epicenter experience will combine the convenience and speed of online and catalog shopping with superb store retailing, creating an innovative consumer experience supported by advanced shopping technology. For more information, visit www.epicenter.net.