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Ever-Glory Announces Resignation of Director

Add: 2009   Update: 2009/12/07

NANJING, China, Dec. 4 /PRNewswire-Asia-FirstCall/ -- Ever-Glory International Group, Inc. (the "Company," "Ever-Glory") (NYSE Amex: EVK) announced today the resignation of Bennet P. Tchaikovsky, an independent director and Chairman of the Audit Committee and a member of the Compensation Committee, from each of the positions effective on November 25, 2009. Mr. Tchaikovsky's resignation was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

"We thank Bennet for his contributions and wish him the best of luck in his future endeavors," said Mr. Edward Yihua Kang, Chairman and Chief Executive Officer of Ever-Glory. "The Company has commenced a search for his successor. In the interim, the other two independent directors serving on the Audit Committee and Compensation Committee, Mr. Zhixue Zhang and Mr. Changyu Qi will share Mr. Tchaikovsky 's responsibilities until a successor can be named."

About Ever-Glory International Group, Inc.

Based in Nanjing, China, Ever-Glory International Group, Inc. is a leading apparel supply chain manager and retailer in China. Ever-Glory is the first Chinese apparel company listed on the American Stock Exchange (now called NYSE Amex, and has a focus on middle-to-high grade casual wear, outerwear, and sportswear brands. The Company maintains global strategic partnerships in Europe, the United States, Japan and China, conducting business with several well-known brands and retail chain stores. In addition, Ever-Glory operates its own domestic chain of retail stores known as "LA GO GO."

Safe Harbor Statement

Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's products and projects, the Company's continued access to capital, currency exchange rate fluctuation and other risks and uncertainties. The actual results the Company achieves may differ materially from those contemplated by any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements. Readers should carefully review the risks and uncertainties described in the Company's latest Annual Report on Form 10-K and other documents that the Company files from time to time with the U.S. Securities and Exchange Commission.