LOS ANGELES, June 18, 2003 (PRIMEZONE) -- Aussie Apparel Group Ltd. (OTCBB:AASI) sought to end the confusion in the financial market place today by announcing that there is no connection between Aussie Apparel Group Ltd. and Mooney Aerospace Group Ltd.
Bruce MacGregor, President and CEO of Aussie Apparel said, "Nasdaq took away the AASI symbol from Mooney on March 27, 2002. We received the AASI symbol from Nasdaq on May 27, 2003. There is absolutely no connection or affiliation between Mooney and Aussie Apparel of any kind. Mooney Aerospace Group's new symbol is MASGE."
About Aussie Apparel Group, Ltd.
Aussie Apparel Group is an emerging growth apparel company focused on the rapidly growing extreme-sports apparel market, both domestically and internationally, utilizing a multi-branded and multi-distribution channel approach. According to Sporting Goods Intelligence, the US sports apparel market was an estimated $19.08 billion at wholesale in 2002. The Company currently owns four brands, including Hot Tuna, which is focused on the surfing enthusiast, Xisle, a mid-tier label that targets both the surf and skate market, and Piranha Boy and Piranha Girl, directed at the children's market with surf inspired apparel for the mass-market. For more information visit: http://www.aussieapparelgroup.com/
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.