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Young Explorers Sells Certain Assets to Potpourri Group

Loveland, CO (March 31, 2004) -- Young Explorers, LLC, an educational toy catalog which has been published since 1993, announced that it sold certain assets to Potpourri Group, Inc., based in Chelmsford, MA. Young Explorers enjoyed strong growth in the past several years. Young Explorers was advised in the transaction by Gruppo, Levey & Co., the New York-based investment bank.

George McMahon, a founder and former President of Young Explorers, will be a consultant to Potpourri and assist in producing the Fall 2004 catalogs. “I am excited to partner with Potpourri and find a home for Young Explorers that will help take it to the next level in its path of continued development and growth,” McMahon said.

“This acquisition enables us to enter the fastest growing segment of the toy business and complements our offering of other gift titles, ” said Jack Rosenfeld, Chairman of Potpourri. “This highly synergistic add-on acquisition was made possible by the completion of a 100,000-square-foot addition to our distribution center in Whitinsville, MA. We look forward to working with George in continuing to grow this excellent title, and aggressively pursuing further acquisitions now that we have completed the warehouse expansion.”

Potpourri Group, Inc. is a privately held company founded in 1963 and owned by Linsalata Capital Partners and management. Linsalata Capital Partners is a Cleveland, Ohio based private equity firm. Potpourri publishes ten titles in addition to Young Explorers in the gift and craft segments, and had revenues of $150 million in 2003. Young Explorers is the seventh title purchased by Potpourri in the past five years.

Source: Gruppo, Levey & Co.