Elegant Illusions, Inc. Reports Second Quarter Ending June 30, 2007, Earnings

PACIFIC GROVE, CA--(Marketwire - August 23, 2007) - Elegant Illusions, Inc. (PINKSHEETS: EILL), for the quarter ending June 30, 2007, reports a loss of $208,545 on revenues of $1,371,235 compared to a loss of $144,677 on revenues of $1,480,408 for the same quarter in 2006.

Same store sales for the quarter ending June 30, 2007 were up 4.9% as compared to the same quarter in 2006. Company wide sales for the quarter ending June 30, 2007 were down 7.4% as compared to the same quarter in 2006.

As of June 30, 2007, we operated 16 retail locations excluding the Riverwalk location and, as of June 30, 2006, we operated 19 retail locations.

Elegant Illusions, Inc. is engaged primarily in the created gem and copy jewelry business with 17 specialty stores across the continental United States.

This release includes certain forward-looking information that is based upon management's beliefs as well as on assumptions made by and data currently available to management. This information which has been, or in the future may be, included in reliance on the "safe harbor" provisions on the Private Securities Litigation Reform Act of 1995, is subject to a number of risks and uncertainties, including but not limited to the factors identified in the Company's 10-KSB and other documents filed with the Securities and Exchange Commission. Actual results may differ materially from those anticipated in such forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein may not be realized. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.

Contact Information: Contact: James Cardinal Elegant Illusions, Inc. (831) 649-1814