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Ever-Glory International Strengthens Working Relationship with QVC

NANJING, China, July 25 /Xinhua-PRNewswire-FirstCall/ -- Ever-Glory International Group, Inc. (OTC Bulletin Board: EGLY) (“Ever-Glory,” “the Company”), a leading apparel manufacturer in the People’s Republic of China (“PRC”), announced today that for the first six months of this year, it received production orders valued at approximately USD400,000 from one of its closest working partners, QVC, Inc., via QVC’s Shanghai office.

The new production order, filled by the Company’s New-Tailun subsidiary, mainly consists of women’s casual wear. Orders for the first half of 2007 represent a 48% increase from the pace set in 2006. Ever-Glory has worked with QVC for two years.

“Our involvement with QVC allows us to diversify our customer base beyond traditional retailing via a high-profile partner,” said Mr. Yihua Kang, Ever-Glory’s Chairman, Chief Executive Officer and President. “We look forward to continued cooperation with QVC and anticipate extensive growth.”

Ever-Glory continues to strengthen its revenue streams by building up a diversified customer base to reduce the impact of seasonality and increasing orders from long-term business partners.

About QVC, Inc.

Founded in 1986, QVC, Inc. established a new record in American business history for first full-fiscal-year sales by a new public company, with revenues of over $112 million. By 1993, QVC had become the number one televised shopping service in sales, profits, and reputation in the United States, reaching over 80% of all U.S. cable homes and 3 million satellite dishes. In 2004, more than 137 million units were shipped to customers around the world as a result of more than 192 million phone calls, leading to more than $5.7 billion in sales. QVC is the world’s preeminent electronic retailer. For more information about QVC, Inc., please visit: http://www.qvc.com .

About Ever-Glory International Group, Inc.

Ever-Glory International Group, Inc. is a U.S. publicly traded company engaged in international garment manufacturing for well-known middle- to high-grade casual, outer, and sportswear brands. The company’s U.S. headquarters is based in Los Angeles, CA, although Ever-Glory also owns two full subsidiary companies, Nanjing Goldenway Garments Co. Ltd., and New-Tailun Garment Co, Ltd. Ever-Glory has strategic business partners in China, Europe, the U.S. and Japan. The Company cooperates with well-respected apparel retail chains such as Itochu, Shinko, Debenhams, Next, C&A, Itoyokado and others in handling high- and middle-grade casual wear and sportswear. The Company has also entered into production and sales cooperation agreements with a number of internationally famous brands such as BB Dakota, Best-Seller, Eddie Bauer, Levi Strauss, Matalan and others. Ever-Glory employs more than 1,500 people. For more information about Ever-Glory International Group, please visit: http://www.everglorygroup.com /.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This press release contains certain “forward-looking statements,” as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management’s current expectations. Such factors include, but are not limited to the Company’s ability to accurately complete product orders, coordinate product design with its customers, ability to expand and grow its distribution channels, political and economic factors in the People’s Republic of China, the Company’s ability to find attractive acquisition candidates, dependence on a limited number of larger customers and other factors detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Ever-Glory International Group, Inc.
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Keywords: Food/Beverages
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