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Remington Announces Manufacturing Consolidation Plan

From Remington Arms Company, Inc.

-- Remington Arms Company, Inc., recently announced a strategic manufacturing consolidation move that will result in the closure of its Gardner, Mass., plant. This integration will be seamless and will not affect our customers or our product offerings.

"While it was a difficult decision to close Gardner, we believe that this consolidation will enhance our ability to more efficiently provide quality products at competitive prices in an increasingly demanding global marketplace." said Tommy Millner, Remington's CEO.

"We are always looking for ways to strengthen and optimize our business in order to stay competitive, while also creating additional opportunities for our employees and better products for customers. Our number one goal is to provide our customers and end-users with the best, most innovative products at a competitive price. Consolidation of manufacturing capabilities and migration to common operating systems are expected to create efficiencies that will achieve this goal."

Throughout the remainder of 2008, the integration of Gardner's operations is expected to result in centralized sales and marketing, streamlined operations, standardized information technology infrastructure, and common financial functionality while vigorously maintaining and promoting individual brand identity and products.

Unfortunately, an estimated 200 Gardner employees will be impacted by the closure, which is expected to be completed by the end of 2008. A number of employees will transition from Gardner to other capacities within the company. For those not transferred, the company will offer severance, outplacement, and referral services.

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