Jarden Corporation has acquired Pure Fishing, Inc., a provider of fishing tackle, lures, rods and reels marketed under brands including Abu Garcia, Berkley, Mitchell, Stren, Trilene and Gulp. Pure Fishing had 2006 revenue in excess of $250 million. Though detailed terms of the transaction were not disclosed, the purchase price consisted of $300 million in cash, $100 million five year note with a 2% coupon and warrants exercisable into Jarden common stock with a strike price of $45.32. In addition to the upfront purchase price, a contingent purchase price payment based on the future financial performance of the acquired business may be paid. With double-digit EBITDA margins, the Pure Fishing acquisition is consistent with the company's stated strategy of purchasing leading, niche consumer-oriented brands with attractive cash flows and strong management. Pure Fishing will be joining The Coleman Company, Inc. as part of the company's Outdoor Solutions segment and is an accretive acquisition before synergies.

Commenting on the transaction, Martin E. Franklin, Chairman and Chief Executive Officer of Jarden Corporation, said, “Pure Fishing is an excellent fit for Jarden and our Outdoor Solutions segment. We believe there are significant opportunities for future growth in the recreational fishing category, as well as cross-selling, channel expansion and geographical expansion opportunities with both our Coleman® and Campingaz® brands. As an established leader and an innovator in the specialty, sporting goods and mass channels for a number of decades, we believe Pure Fishing is well positioned to continue its growth and strong financial performance under Jarden and we welcome the entire Pure Fishing team to our company.”

Gary A. Kiedaisch, President of Jarden Outdoor Solutions commented, “The strength of Pure Fishing's brands in combination with Coleman's vast product line provides us with an exceptional platform for the future growth of our Outdoor Solutions business. Leveraging the strengths of the Jarden, Coleman and Pure Fishing domestic and international operations will help us drive top line growth, expand new product and brand offerings, while creating synergies and a greater level of innovation, responsiveness and service to retailers and consumers.”

Tom Bedell, the chairman and member of the founding family of Pure Fishing said, “We are proud of the business that we have built and believe that Jarden is the right company to take the business to the next level. Jarden's expertise in growing leading brands and access to capital will build upon the expertise and innovation we have at Pure Fishing. We also are extremely proud to partner with Coleman under the banner of Jarden Outdoor Solutions.”

Mr. Franklin concluded, “We strategically raised capital in the fourth quarter of 2006 and opportunistically did so again earlier this year. With this transaction we are beginning to put the capital raised to good use as we continue to look for opportunities to increase shareholder value. We look forward to discussing our first quarter results with investors later this month and discussing the transaction in more detail at that time.”