Remington Arms Co. reported a net loss of $39.4 million in 2008
after writedowns of assets below their carrying value. Revenues jumped 20.9% to
$591.1 million from $489.0 million, due primarily to sales generated as a
result of the acquisition of The Marlin Firearms company as well as increased
sales of our R-15 and R-25 product lines introduced in 2008

The $47.4 million impairment charge related to its Firearms
and All Other reporting segments based on the excess of its carrying value over
fair value based on valuations completed by third parties. Included in this
amount is a $3.1 million impairment charge associated with certain trademarks
obtained from the Marlin Acquisition. The charges eliminated the goodwill
amounts from both our Firearms and All Other reporting segments.

Adjusted EBITDA improved 15.5% to $70.8 million for 2008 as
compared to $61.3 million for 2007. The non-cash impairment charges are added
back to Adjusted EBITDA.

The outstanding amount on the revolving credit facility was
$51.8 million at December 31, 2008. There was no outstanding amount on the
revolving credit facility at December 31, 2007. The outstanding amount
represents incremental funds borrowed by the company as a cautionary measure in
response to the continued uncertainty in the financial markets. The company has
not repaid the amounts as of the date of this press release. Cash on hand at
December 31, 2008 was $66.7 million, compared to $23.4 million at December 31,
2007, and is invested in a treasury reserve fund.

Accounts receivable at December 31, 2008, was $93.1 million
compared to $72.8 million at December 31, 2007, an increase of $20.3 million or
27.9%, and was due primarily to higher sales in 2008.

Inventories at December 31, 2008 were $102.0 million,
compared to $116.9 million at December 31, 2007, a decrease of $14.9 million or
12.7%. The decrease in inventories was primarily due to higher sales in 2008 as
well as various management initiatives to optimize inventory levels in order to
meet demand.

As of December 31, 2008, the company was in compliance with
its financial covenants and had additional availability of $49.8 million
(including the $27.5 million minimum availability condition). The company
generally funds expenditures for operations, administrative expenses, capital
expenditures, debt service obligations, dividend payments, and potential
repurchases of our outstanding notes (which we intend to make from time to time
depending on market conditions), in addition to satisfying working capital
needs, with internally generated funds from operations and periodically with
borrowings under our credit facility.