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CEO Offers to Buy Parlux

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By: Jamie Matusow

Editor-in-Chief

Parlux Fragrances announced that its Board of Directors had received an unsolicited letter from its chairman and chief executive, Ilia Lekach, representing PF Acquisition of Florida LLC, pertaining to the possible acquisition of all of the outstanding common stock of the Company at a proposed price of $29.00 per share in cash, representing a premium of 55% over the closing price of the common stock of the Company on June 13, 2006.

The offer is subject to financial and other contingencies.

Parlux Fragrances, Inc. is a manufacturer and international distributor of prestige products. It holds licenses for Paris Hilton fragrances, watches, cosmetics, sunglasses, handbags and other small leather accessories in addition to licenses to manufacture and distribute the designer fragrance brands of Perry Ellis, GUESS?, XOXO, Ocean Pacific (OP), Maria Sharapova, Andy Roddick, babyGund, and Fred Hayman Beverly Hills.

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