Everlast Press Release

  
    
  
  
    
      Everlast® Worldwide Inc. (Nasdaq: EVST) 
      announced today that it has entered into a settlement agreement with 
      Hidary Group Acquisitions, LLC and Hidary Group Acquisitions, Inc. The 
      settlement provides for the dismissal, with prejudice, of Hidary’s 
      lawsuit against Everlast, which sought to block Everlast’s 
      pending merger agreement to be acquired by Brands Holdings Limited. 
      Pursuant to the terms of the settlement, among other things, Everlast 
      has agreed to limit the discovery it may take from Hidary in connection 
      with certain stockholder litigation, and Everlast agreed to publicly 
      reaffirm its board’s commitment to comply with 
      its fiduciary responsibilities, as set forth below.
    
    
      Pursuant to the terms of the merger agreement, the Board of Directors of 
      Everlast remains free to consider unsolicited acquisition proposals. 
      Additionally, as Everlast has previously disclosed, there is no 
      agreement between Everlast and Hidary that would prohibit Hidary from 
      commencing a non-coercive tender offer for Everlast’s 
      shares. The Everlast Board has been and remains committed to obtaining 
      the best transaction reasonably available to its stockholders, as it is 
      required to under Delaware law. In the event that any entity (including 
      Hidary) makes an unsolicited acquisition proposal or commences a 
      non-coercive tender offer for Everlast’s 
      shares, the Everlast Board will, as it has done in the past, comply with 
      its fiduciary duties under Delaware law in evaluating and responding to 
      any such proposal or tender offer.
    
    
      About Everlast Worldwide Inc.
    
    
      Everlast Worldwide Inc. is a leading designer, manufacturer and marketer 
      of boxing and fitness related sporting goods equipment under the 
      well-recognized Everlast brand name and a worldwide licensor of the 
      Everlast brand for apparel, footwear, sporting goods equipment and other 
      active lifestyle products and accessories. Since 1910, Everlast has been 
      the preeminent brand in the world of boxing and among the most 
      recognized brands in the overall sporting goods and apparel industries. 
      In order to capitalize on the rich heritage and authenticity of the 
      Everlast brand, the company has extended the Everlast brand outside of 
      the boxing ring into complementary product categories. Our strategy is 
      to continue to leverage the unique qualities represented by the Everlast 
      brand—Strength, Dedication, Individuality and 
      Authenticity — to become a leading global 
      athletic brand and a necessary part of the lives of consumers who train, 
      compete and live an active lifestyle.
    
    
      Statements made in this Press Release that are estimates of past or 
      future performance are based on a number of factors, some of which are 
      outside of the Company's control. Statements made in this Press Release 
      that state the intentions, beliefs, expectations or predictions of 
      Everlast Worldwide, Inc. and its management for the future are 
      forward-looking statements. It is important to note that actual results 
      could differ materially from those projected in such forward-looking 
      statements. Information concerning factors that could cause actual 
      results to differ materially from those in forward-looking statements is 
      contained from time to time in filings of Everlast Worldwide with the 
      U.S. Securities and Exchange Commission. Copies of these filings may be 
      obtained by contacting Everlast Worldwide or the SEC.