Paramount Cards' Premier Greetings Division Wins Account As Primary Card Supplier For Factory Card & Party Outlet, Confirming Value Leadership

Pawtucket, RI (PRWEB) February 8, 2005

Hamilton Davison, President and Chief Executive Officer of Paramount Cards Holding Corporation, announced today that the company’s Premier Greetings division entered into a definitive supply agreement with Factory Card & Party Outlet Corp. (NASDAQ: FCPO) as its primary supplier of everyday and seasonal greeting cards for all of its stores.

Premier Greetings won the highly contested account and will begin shipping product to the company’s 184 Company-owned retail stores during the first half of this year. Davison said, “FCPO’s choice of Premier Greetings reaffirms our position as the leader in value marketing of greeting cards. We are delighted to have concluded the supply agreement. Having watched Factory Card and Party Outlet’s growth and development, it is a pleasure for us to have them in our base of valued customers.”

Gary W. Rada, President and Chief Executive Officer of Factory Card and Party Outlet said, “Our relationship with Paramount marks a major milestone in our Company’s 20-year history, broadening our position as the leading provider of exceptional quality, value priced social expressions merchandise. We believe the Premier Greetings offering will re-energize our card sales and bolster our position as one of the foremost specialty retailers of greeting cards and party supplies in the United States.” Rada added, “This relationship will enable us to reposition our greeting card strategy by introducing a multi-tiered pricing program featuring superior quality greeting cards retailing at new low prices to benefit customers. We are pleased to be aligned with Premier Greetings and Paramount Cards, a company of excellent resources and a recognized leader in the greeting card industry.”

Paramount is America’s oldest and third largest greeting card company, offering over 30,000 cards, wraps and related products. Premier Greetings, also based in Pawtucket, RI, supplies leading retailers across North America with top quality cards and traffic building value-marketing programs. Under the terms of the agreement, substantially all the cards offered by FCPO will be supplied by Paramount’s Premier Greetings.

Davison said, “With a product line second to none, Premier Greetings leverages nearly 100 years of experience marketing through retail outlets ranging from discount to specialty card and party stores.    Factory Card & Party Outlet is a confirmed leader in the social expressions arena, and has a history of innovation that we are proud to now be a part of. Their formula combines proven success strategies found at mass retail in a specialty store package card and party buyers love.”

Mark Deuschle, Executive Vice President for Premier Greetings, said, “This was a heavily contested account for which many international companies competed. The new relationship leverages our considerable expertise and brings together two companies committed to getting great greeting cards in people’s hands at a great price.”

Andy Meehan, Executive Vice President of Marketing, added, “With one of the fastest and most efficient supply chains in our industry, Premier Greetings is set to provide FCPO with turnkey service. In test market stores, Factory Card and Party Outlet’s customers reacted very well to Premier Greetings’ products and pricing. We are confident this will be a winning relationship for both companies.” Factory Card & Party Outlet (http://www.factorycard.com) based in Naperville, Illinois, currently operates 184 Company-owned retail stores in 20 states, offering a wide selection of party supplies, greeting cards, gift-wrap, balloons, everyday and seasonal merchandise and other special occasion merchandise at everyday value prices.

Based in Pawtucket, Rhode Island, Paramount Cards is America’s oldest and third largest greeting card company, featuring beautifully designed greeting cards, wraps and related products created by a world-wide network of artists and writers and produced in state-of-the-art factories in North America. Premier Greetings (http://www.premiergreetings.com) supplies leading retailers in the U.S. and Canada top quality cards and traffic building value-marketing programs. Paramount’s other operating subsidiaries include Cardsmart Retail Corporation (http://www.cardsmart.com), a fast growing national chain of value priced card and gift stores; Image Craft, the second largest card publisher in Canada and supplier of over 90% of the dollar cards sold in Canada; Lawson Falle (http://www.lawsonfalle.com), the second largest Christian card publisher; Images From The Heart, which markets products including handmade greeting cards also sold through http://www.cardshopinabox.com; Paramount International, a leading supplier of private label and custom produced cards and related products sold worldwide.

(PC-52)

Contact: Brian Dobson, 203-613-2222, bdobson@premiergreetings.com

###