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RG Barry Corp confirms receipt of unsolicited acquisition proposal from Mill Rd

R. G. Barry confirmed that it has received an unsolicited, non-binding acquisition proposal from Mill Road Capital Management and its affiliated funds to acquire all of the company's outstanding common shares at a price of $20 per share in cash, subject to due diligence and other conditions. No information was provided by Mill Road Management concerning the source of financing for such proposed acquisition. The Board of Directors of R. G. Barry intends to evaluate the proposal in a timely manner, but has not determined a definitive time frame for its evaluation. The company will not comment upon or provide further updates regarding the acquisition proposal until circumstances warrant.