Second Boyds Collection Ltd., Retail Store Means Big Business to Smoky Mountain Region.

PIGEON FORGE, Tenn. -- Boyds Bear Country bringing popular teddy bears, hares and other lovable collectibles to America's most popular tourist towns

When The Boyds Collection Ltd. (NYSE:FOB) opens its 110,000-square foot Boyds Bear Country(TM) store in this popular tourist town today, Friday, November 5th, it will be the first time folks remember actually welcoming a bear market.

But the welcome mat is out for Boyds Bear Country(TM), "the world's most humongous teddy bear store," as it comes to Tennessee.

Boyds Bear Country(TM) opened its first retail store in Gettysburg, Pennsylvania in 2002, and quickly became one of Pennsylvania's most popular family destinations.

Now, in the Company's 25th Anniversary year, Boyds is bringing its beloved collectibles to Pigeon Forge, Tennessee, one of the country's foremost family travel destinations with more than 11 million visitors each year. More than 1 million people are expected at the Pigeon Forge store in the first year alone.

"We believe our retail operations will be a key growth engine for the company, giving us the opportunity to introduce our story and our brand to a broader range of consumers nationwide," said Jan Murley, CEO of The Boyds Collection.

In Pigeon Forge, Boyds has selected a prime den amidst dozens of popular tourist attractions, including Dolly Parton's Dollywood theme park, more than 300 outlet stores and specialty shops, spectacular live entertainment and almost 100 restaurants. Pigeon Forge also benefits from the year-round draw of neighboring Smoky Mountains National Park, America's most visited national park.

The city sees the largest average traveling party size in all of Tennessee, is the host to the most family travel parties and sees higher trip spending than the state average. In fact, Sevier County, where Pigeon Forge is located, posted more than $1.1 billion in domestic expenditures in 2003, ranking third in the state, according to the Travel Industry Association of America (TIA).

"Shopping is Americans' top activity while traveling, which makes Boyds Bear Country especially noteworthy to Pigeon Forge," said Leon Downey, Pigeon Forge Department of Tourism Director. "For many people, Boyds Bear Country will be a destination unto itself, and it's certainly a solid addition to Pigeon Forge's mix of outlet, crafts and specialty stores."

The Pigeon Forge store will be a signature Boyds' production with more than 60,000 bean-stuffed and resin bears, hares and other lovable critters throughout three gigantic floors of merchandise and displays.

Interactive shopping opportunities include Digby's Super Duper "Make Your Own" Bear Factory, a 500-seat restaurant called the Rufus, Dufus, and Daryl's Dinner Hall, and the Teddy Bear Nursery, where visitors can experience the "bear adoption process" and hand pick their own bear. The family-friendly store will also feature live entertainment on weekends.

Following the Pigeon Forge opening and consistent with its focus on high-traffic, tourist locations for families, Boyds plans its third and fourth stores in Myrtle Beach, South Carolina and Branson, Missouri respectively.

About The Boyds Collection Ltd.

Founded in 1979, the Boyds Collection, Ltd. is a leading designer and manufacturer of branded, high quality, handcrafted collectibles and other specialty gift products. Boyds sells its affordably priced "Folksy with Attitude" collectibles through a large network of retailers, high-end department stores, selected catalogue retailers and other retail channels, including its Boyds Bear Country(TM) stores -- www.boydsbearcountry.com -- "the world's most humongous teddy bear stores." Based in Gettysburg, Pa., the Company was acquired by Kohlberg Kravis Roberts & Co. (KKR) in 1998. It is a publicly traded company (NYSE symbol: FOB). Information about Boyds can be found at www.boydsstuff.com.

Address: 149 Cates Lane, Pigeon Forge

--Hours: Monday-Saturday, 10 a.m. to 8 p.m.; Sunday 10 a.m. to 6 p.m.

--For high resolution photos, please email: [e-mail]

--Media interested in covering the VIP ribbon-cutting ceremony at 10 a.m., Nov. 5, 2004, just prior to the store opening, please call Mark Thien at [phone] for details.