Premier Concepts, Inc. Announces Proposed Equity Funding and Debt Financing, New Board Member; Proceeds to Enhance E-Commerce and Fund Retail Expansion and Store Improvements.

AURORA, Colo.--(BUSINESS WIRE)--Nov. 11, 1999--

Premier Concepts, Inc. (NASDAQ: FAUX) announced that it has approved the terms of an equity funding of up to $200,000 and debt financing in the amount of $500,000. Premier Concepts will use the proceeds from the debt funding to enhance its E-commerce orientation, establish new store locations, improve existing stores and for working capital and other general corporate purposes.

Premier Concepts expects to receive the equity funding and debt financing by mid-November. The equity funding will be made by International Monetary Group Incorporated (IMG), and Florida-based company. IMG is a merchant banking firm specializing in debt, equity and asset based financing.

IMG will arrange for the debt financing from a third-party lender. The debt financing will be structured as a sale/leaseback of Premier Concepts' furniture, fixtures and equipment. The equity funding will be used solely to collateralize the debt financing and will be redeemed by the company if certain events do not occur.

In connection with the funding, Geraldine Magalnick will join Premier Concepts' Board of Directors as IMG's designee.

Sissel B. Eckenhausen, President and CEO of Premier Concepts, commented: "We are pleased with the timing and terms of these financings. The improvements in the company's bricks and mortar locations will complement its E-commerce expansion. These arrangements enable the company to provide our customers an integrated shopping experience as the company moves into 2000."

Infusion Capital Partners, LLC, an investment bank engaged by Premier Concepts since March 1999 to assist the company in raising funds, will deliver the equity and debt financings, which represent the third round of financing arranged by Infusion.

Premier Concepts is one of the nation's leading specialty retailers of designer-inspired FAUX and bridge jewelry as well as 14kt gold and sterling silver. The company's 36 store locations operate nationally under the names Imposters (TM) and Elegant Pretenders (TM). For more information about FAUX jewelry and Premier Concepts' products and store locations, please visit the company's Web site at www.impostors.com or call toll-free 800/259-8705.

This news release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results in future periods to differ materially from what is anticipated.