REDE Redenvelope (MM)

RedEnvelope Chairman Michael Moritz Will Not Seek Another Term as Director SAN FRANCISCO, July 11 /PRNewswire-FirstCall/ -- RedEnvelope, Inc. (NASDAQ:REDE) today announced that Michael Moritz, the Company's Chairman, will not seek re-election to the Company's Board of Directors at RedEnvelope's upcoming Annual Meeting of Stockholders. Mr. Moritz, who has served on the Company's Board since 1999, said that this decision would allow him to focus more of his efforts on early stage investments. "RedEnvelope is grateful to Mike for his leadership over the last six years. His vision and insight have been invaluable in building our business and our brand," said Alison May, the Company's President and Chief Executive Officer. RedEnvelope, Inc. is an online retailer of upscale gifts for every occasion, every day. RedEnvelope offers a unique assortment of imaginative gifts through its catalog and website, http://www.redenvelope.com/. NOTE: RedEnvelope and the RedEnvelope logo are registered trademarks of RedEnvelope, Inc. MEDIA CONTACT: Susan Hook RedEnvelope, Inc. 415-512-6193 INVESTOR CONTACT: Jordan Goldstein Financial Dynamics 415-439-4500 DATASOURCE: RedEnvelope, Inc. CONTACT: media, Susan Hook of RedEnvelope, Inc., +1-415-512-6193, or investors, Jordan Goldstein of Financial Dynamics, +1-415-439-4500 Web site: http://www.redenvelope.com/

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