Park West Gallery Responding to Changing Economic Conditions

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Leading At-Sea Art Auction Company Adjusts Inventories and Cruise Schedules

Looking ahead to the upcoming cruise season and beyond, Park West Gallery, the leading cruise art company is gradually reducing the number of ships on which it offers art by approximately 10 percent. "I can't think of an industry or region of the world that has not been affected by the economic slowdown," said Albert Molina, president of Park West Gallery Florida. "Like all other industries the art industry has been affected, including onboard auctions. This change will give us the opportunity to focus our operations in a manner that will enable us to continue to serve our clients as the leader in our field."

Adjusting its corporate resources accordingly, Park West will withdraw its program on a gradual basis from the Holland America Line ships, with the majority of ships still being served through the third quarter of 2009. The gallery is already focusing on the presentation of the right art and collecting opportunities in response to changing client interests on the remaining ships on which it offers art. Those efforts are paying off in the form of brisk increases in sales.

Conducting art auctions on cruise ships around the world, Park West is able to judge consumer confidence on a daily basis. Assessing the current environment, Molina still sees opportunity. "I have heard from clients who feel this is a perfect time to purchase something tangible and beautiful they can enjoy everyday in their homes."

"We work very hard to understand the demographics, mood and capacity of the passengers on every ship on which we operate," said Molina. "This is a challenging environment in which we have tasked our merchandising department to monitor and advise on a cruise-by-cruise basis. On the bright side, our cruise clients are responding very well to our constantly changing collections of new and exciting art. Paintings, watercolors, rare prints, sports collectibles and animation art are well-received. Competitive and attractive pricing continue to be a big advantage for our clients."

About Park West Gallery
Founded in 1969, Park West Gallery (http://www.parkwestgallery.com) conducts art auctions on cruise ships around the world. The Park West Gallery collection includes oil and acrylic paintings, watercolors and drawings, hand-signed limited edition etchings, lithographs, serigraphs, and hand-embellished graphic works, as well as animation art and selected sports memorabilia. Park West Gallery occupies a 63,000 square foot headquarters and gallery in Southfield, Michigan, and an 181,000 square foot fulfillment center and gallery in Miami Lakes, Florida.

Media Contact:    Chris Tennyson at Fleishman-Hillard, (212) 453-2246.

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