O Holdings, LLC acquires Ski Country Imports and Ouray Sportswear Wyoming

May 29, 2007, (Denver, Colorado) – O Holdings, LLC, announced today it has completed the acquisition of the assets of Ski Country Imports, Inc. and Ouray Sportswear Wyoming, Inc.

O Holdings has capitalized a new company, Ouray Sportswear, LLC which will continue the operations of Ski Country Imports, formerly dba Ouray Sportswear and its Denver-based full service wholesale “value added” light manufacturing of decorated sportswear and headwear.

Ouray Sportswear, LLC will retain the management team, COO Mark Musselman, CFO Jerry Wenzel, VP of Sales, Craig Dudley and VP of Operations, Kevin Smith while adding Jalex partners Jon Boris and Ryan Harrington who combined have over 28 years of investment and operational experience, most recently with Jackson-based outdoor clothing manufacturer Cloudveil Mountain Works.

“The future of Ouray Sportswear is bright and secure,” comments Mark Musselman. Musselman continues, “The new ownership structure provides the financial and operational resources to allow Ouray to fully capitalize on the wide range of strategic initiatives unveiled in 2006. The synergy between the senior management team at Ouray and the new operating partners at Jalex Group is fundamental to our ability to lead the business and benefit our customers. Ouray will not deviate from our commitment to quality, and will be, as a result of this re-structuring, more capable than ever in servicing our customers.”

Jon Boris from Jalex adds, “We look forward to leveraging the 42 years of history and experience that exists at Ouray. The new Ouray will be properly capitalized which will allow the Company to take advantage of the investment that Ski Country has made in infrastructure over the last eighteen months; this will allow for, among other things, substantially shorter lead times on re-ordered product. We intend to create a business focused on Service, Quality and Accountability with planned, strategic growth in both the Resort and College bookstore markets.”

Ouray (pronounced Yü-ray) Sportswear is a family-owned and professionally managed corporation founded in 1965. It designs, produces and decorates headwear, sportswear and other logoed apparel for collegiate, resort, retail, corporate, scholastic, and promotional markets. Ouray is known for distinctive, high quality garments and headwear for men, women, and children, and are offered in coordinated, fully merchandised collections. For more information on Ouray Sportswear go to www.ouraysportswear.com

Jalex Group (Jalex) is a Denver-based private equity investment company focused on the investment in or acquisition of lower middle-market consumer products firms.