Michael Anthony Jewelers, Inc. Announces Approval of Reverse Stock Split MT. VERNON, N.Y., Dec. 15 /PRNewswire-FirstCall/ -- Michael Anthony Jewelers, Inc. announced that its 1:1,500 reverse stock split of its common stock became effective at 12:01 a.m. on December 15, 2004. As approved by the Company's stockholders, the reverse stock split will result in every 1,500 shares of Michael Anthony Jewelers, Inc. common stock being combined into one share of common stock. The reverse stock split will reduce the total number of fully diluted outstanding shares (without regard to redemption of fractional shares) from 6,267,438 to approximately 4,200. Fractional shares resulting from the reverse stock split, will be purchased by the Company at a price of $2.17 per pre-split share. Each Stockholder will be receiving letters of transmittal that will explain how to exchange old share certificates for new share certificates and how to receive the purchase price for fractional shares. About Michael Anthony Jewelers Michael Anthony Jewelers is a leading designer, marketer and manufacturer of branded, affordable fine jewelry and watches, whose customers include jewelry chain stores, discount stores, department stores, television shopping networks, and wholesalers. Except for historical information contained herein, the matters set forth in this news release are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These uncertainties include general economic conditions, jewelry industry conditions, the effects of competition and the success of new products and programs. DATASOURCE: Michael Anthony Jewelers, Inc. CONTACT: Michael A. Paolercio, Treasurer of Michael Anthony Jewelers, +1-914-699-0000, ext. 328 Web site: http://www.michaelanthony.com/

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