Boss Holdings, Inc. Announces Acquisition of Aries Manufacturing

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August 13, 2010
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Boss Holdings, Inc. Announces Acquisition of Aries Manufacturing

KEWANEE, Ill., Aug. 13 -- Boss Holdings, Inc. (Pink Sheets: BSHI) ("Boss" or the "Company") announced today that its newly formed subsidiary, Boss Tech Products, Inc. ("Boss Tech"), has purchased the cell phone accessory distribution business and related assets of Aries Manufacturing, Inc., located in Libertyville, IL ("Aries"), pursuant to an Asset Purchase and Sale Agreement.  Aries markets cell phone accessories, including wireless headsets, car chargers and related accessories through multiple distribution channels, including service stations, convenience stores and truck stops.

Thomas Novak, Aries' founder and chief executive officer, will head up the new operations as president of Boss Tech, which will operate in this segment under the Aries tradename. The assets purchased include Aries' accounts receivable, inventory, equipment, trademarks, tradenames and other intellectual property. Boss funded the purchase price of approximately $1,100,000 in cash from its existing working capital.

Boss management believes the Aries line of products, including its popular line of Cobra® licensed headsets and chargers, presents significant opportunity for growth. Boss already sells its work gloves, boots and rainwear in the primary distribution channels utilized by Aries and the acquisition will provide numerous cross-selling opportunities. Boss Tech will operate from the former Aries offices in the Chicago metropolitan area, with Aries' sales and customer support staff now working for the new company. Aries 2009 total revenues were approximately $5,650,000 and approximately $2,575,000 for the six month period ending June 30, 2010. Management expects the Aries acquisition will be immediately accretive to Boss net earnings.

This press release may contain various forward-looking statements.  Such forward-looking statements involve a number of assumptions, risks and uncertainties that could cause the actual results of the Company to differ materially from those matters expressed in or implied by such forward-looking statements.  They involve known and unknown risks, uncertainties, and other factors, which are in some cases beyond the control of the Company.  Additional information regarding the Company can be obtained through the "Company Information" section of the Company's website at http://www.bossgloves.com.

Boss Holdings, Inc. distributes gloves, boots and rainwear through Boss Manufacturing Company, based in Kewanee, Illinois. Other Boss subsidiaries include Boss Pet Products, Inc., based in Maple Heights, Ohio which distributes pet leashes, restraints, toys and supplies and Galaxy Balloons, Inc., based in Cleveland, Ohio which distributes custom imprinted balloons, inflatables and other products for the promotional products industry.

Source: Boss Holdings, Inc.
   

CONTACT:  Steven G. Pont, Chief Financial Officer of Boss Holdings, Inc.,
1-800-447-4581

Web Site:  http://www.bossgloves.com/

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