MICHAEL LEBOWITZ JOINS BUXBAUM JEWELRY ADVISORS AS V.P.

AGOURA HILLS, Calif. (6/29/10) –Jewelry industry veteran Michael Lebowitz has joined Buxbaum Jewelry Advisors as vice president.

Lebowitz, who brings 40 years of experience in jewelry retailing, wholesaling and consulting, will be based in the firm’s new metro Boston office, where he will lead a team dedicated to assisting wholesale and retail jewelers in distress.

He comes to Buxbaum Jewelry Advisors from Royal Jewelers, Andover, Mass., where he was vice president- merchandise since 2004. In that role, he ran the day-to-day operations of a 5,000-square- foot-fine jewelry and watch store, overseeing both merchandise and personnel.

Lebowitz began his career in 1970 with Lebowitz and Co., a third-generation, family-owned jewelry store in Shrewsbury, Mass., where he subsequently became chief operating officer, responsible for day-to-day operations. After 25 years in his family’s business, Lebowitz served as a close-out buyer and asset appraiser for Gordon Brothers Corporation in Boston. He moved back into retailing in 1997, joining preeminent Boston jeweler Shreve Crump & Low as fine jewelry merchandise manager. In that role, he developed key product initiatives such as the SCL Mastercut Diamond. After leaving Shreve in 2003, he served as a consultant to manufacturer M. Fabrikant & Sons, spearheading a project to develop a high-end designer jewelry line.

A resident of North Andover, Mass., Lebowitz earned a bachelor’s degree in Business Management from the University of Bridgeport in Connecticut. He is also certified by the GIA (Gemological Institute of America) as a graduate gemologist and as an Okuda Certified Diamond Inspector.

“Michael’s experience as a high-end independent retailer, as well as his closeout and appraisal experience, makes him a perfect match for this position,” said Stevan Buxbaum, president of Buxbaum Jewelry Advisors. “He is able to assess all sides of the equation—wholesale, retail, store operations—to ensure a ‘win-win’ relationship. Michael’s vast knowledge of manufacturing costs and trends, combined with a strong retail background, allows him to fully understand the challenges facing the jewelry business today and to develop viable solutions for retailers and wholesalers.”

About Buxbaum Jewelry Advisors/Buxbaum Group - Buxbaum Jewelry Advisors has assembled a team of jewelry professionals that have provided wholesale and retail jewelers with financial solutions for more than 20 years. It offers a wide range of services and can meet the needs of both profitable and financially distressed jewelry retailers and wholesalers. It is an affiliate of Agoura Hills, Calif.-based Buxbaum Group, which has built its reputation for over 30 years as one of the largest liquidators and appraisers of retail and wholesale inventories across North America, as well as a prominent turnaround investing firm.

Press Contacts: At Buxbaum Jewelry Advisors, Stevan Buxbaum, (612) 363-6517; at Parness & Associates Public Relations, Bill Parness or Lisa Kreda, (732) 290-0121.