Jewel & Jewel

Bidz.com a leading online auctioneer of jewelry, announced today that it has received approval for an increase in its revolving credit line to $25 million, from $15 million, with Bank of America, as well as board authorization to significantly increase its share repurchase program to $20 million from $5 million.

The increased board authorization is effective for the next 24 months and the Company intends to begin implementation of the repurchase after it reports earnings next Thursday, February 28, and the blackout period is over and the repurchase window opens. The Company currently has a zero balance outstanding on its current credit line of $15 million, and only $1.2 million has been utilized to repurchase shares to date.

The Company feels the additional capacity from its untapped credit line, combined with its improvement in cash flow, low capital expenditures and 15 consecutive quarters of profitability, provides ample financial flexibility to both opportunistically repurchase shares, purchase inventory and continue to fund its working capital and infrastructure needs.

“Our business continues to grow profitably and we are very excited about our leading position in the online jewelry market place,” said Chairman & CEO, David Zinberg. “The increase in our share repurchase authorization will allow us to opportunistically purchase shares from time to time, when we believe the market is not appropriately valuing the strength of our business, or prospects.

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