R.G. Barry Corporation reported that it has entered into a non-disclosure and standstill agreement with Mill Road Capital Management LLC in regards to the PE firm's potential bid to acquire the company. R.G. Barry owns Dearfoams slippers as well as Baggallini handbags, totes and travel accessories and Foot Petals premium insoles and comfort products.

This follows the decision of the R.G. Barry Board of Directors to proceed with the due diligence request of Mill Road for its previously announced unsolicited and non-binding proposal to acquire the company.

The Board of Directors cautions the company's shareholders that the Board has not made any decision with respect to the Mill Road proposal and there can be no assurance that any definitive offer will be made, that any definitive agreement will be executed or that the proposed transaction or any other transaction will be approved or consummated.

The company does not undertake any obligation to provide any updates with respect to the matters that are the subject of this press release, except as required under applicable law.

R.G. Barry is being advised by Peter J. Solomon Company, L.P. and Vorys, Sater, Seymour and Pease LLP.