News

                              FGX International Acquires Corinne McCormack, Inc.

SMITHFIELD, R.I.--(BUSINESS WIRE) -- FGX International (NASDAQ:FGXI), a
leading designer and marketer of non-prescription reading glasses and sunglasses, today
announced that it has acquired Corinne McCormack, Inc. (CMI), a privately held
company located in New York City.

CMI was founded by Corinne McCormack in 1993 and designs and markets a collection
of eyewear and accessories under the Corinne McCormack brand name. CMI products
are sold to better specialty and department stores and are found in over 2,000 locations.
Leading CMI retailer partners include Bloomingdale’s, Lord & Taylor and LensCrafters.
Alec Taylor, CEO of FGX International commented, “The acquisition of CMI
strengthens our competitive position in the over-the-counter reading glasses category by
taking us into higher end channels and adding the fashion-forward styling that Corinne
McCormack is known for. We believe that by investing in the marketing and distribution
of this brand, we can increase CMI’s share of the designer reading glass market. Also, we
plan on utilizing Corinne’s substantial capabilities with our existing accounts where
fashionable offerings are becoming increasingly important.”

Corinne McCormack has over 15 years of experience in the eyewear category and prior
to that 15 years experience in wholesaling and retailing accessories. She will serve as
Vice President-Fashion Director of FGX International.

FGX International acquired CMI in exchange $1.45 million in cash. The purchase also
includes a related e-commerce company, Eye-Bar Inc. For the fiscal year ended
December 31, 2008, CMI had net revenues of approximately $2 million.
FGX International expects CMI to have no significant impact on 2009 earnings and to be
modestly accretive in 2010.

About FGX International
FGX International Holdings Limited is a leading designer and marketer of nonprescription
reading glasses and sunglasses with a portfolio of established, highly
recognized eyewear brands including Foster Grant®, Magnivision®, Angel ™ ,
Gargoyles®, Anarchy®, SolarShield® and PolarEyes®. FGXI also holds licenses for
brands such as Ironman, Levi Strauss, Body Glove and C9 by Champion. Based in
Smithfield, Rhode Island, FGXI has approximately 375 full time employees. Additional
offices are located in San Luis Obispo, CA; Toronto, Canada; Stoke-on-Trent, England;
Mexico City, Mexico; and Shenzhen, China.