Jaclyn, Inc. Announces Deregistration Transaction

MAYWOOD, NJ, May 20 (MARKET WIRE) --
Jaclyn, Inc. (OTCQX: JCLY) announced today that on May 19, 2008 it completed
a reverse stock split of the Company's issued and outstanding shares of common
stock at a ratio of 1-for-250, followed immediately by a 250-for-1 forward stock
split of the shares of common stock. The stock splits became effective in
accordance with certificates of amendment to the Company's certificate of
incorporation which were filed with the Secretary of State of Delaware. As a
result, each stockholder holding fewer than 250 shares of common stock
immediately
prior to the effective time of the reverse stock split had such shares
cancelled and converted into the right to receive $10.21, without interest,
for each share of common stock held immediately prior to the effective time of
thereverse stock split. The shares of common stock of each stockholder holding
250 or
more shares of common stock immediately prior to the effective time of the
reverse stock split remain unchanged after the stock splits. The Company's
transfer agent will send a letter of transmittal to stockholders who are
entitled to payment as a result of the reverse stock split with instructions
for exchanging their stock certificates for the payment to which they are
entitled.

Also as a result of the stock splits, based on information available to
theCompany, the number of record holders of the Company's common stock fell
below
300. Accordingly, the Company has filed a Form 15 with the Securities and
Exchange Commission to deregister its common stock under the Securities
Exchange Act of 1934, as amended.

The Company's common stock was approved for listing on the OTCQX(SM) tier of
Pink OTC Markets Inc. (formerly Pink Sheets LLC). Commencing today, the
Company will be quoted on the OTCQX(SM) under the symbol JCLY.

Forward Looking Statements

Note: This press release may contain forward-looking statements that are
being made pursuant to the Private Securities Litigation Reform Act of 1995,
which provides a "safe harbor" for forward-looking statements to encourage
companies to provide prospective information so long as those statements are
accompanied by meaningful cautionary statements identifying important factors
that
could cause actual results to differ materially from those discussed in the
statement. Our forward-looking statements are subject to a number of known
and unknown risks and uncertainties that could cause actual results,
performance or achievements to differ materially from those described or
implied in the forward-looking statements, including, but not limited to,
general
economic and business conditions; competition in the accessories and apparel
markets,
potential changes in customer spending; acceptance of our product offerings and
designs; the variability of consumer spending resulting from changes in domestic
economic activity; any significant variations between actual amounts and the
amounts estimated for those matters identified as our critical accounting
estimates, as well as other significant accounting estimates made in the
preparation of our financial statements; and the impact of hostilities in the
Middle East and in other geographic areas, as well as other geopolitical
concerns.Accordingly, actual results may differ materially from such
forward-lookingstatements. Our forward-looking statements are based on our
current
expectations, assumptions, estimates and projections about the Company and
involve significant risks and uncertainties. The Company assumes no
obligation for updating any such forward-looking statements to reflect actual
results, changes in assumptions or changes in other factors affecting such
forward-looking statements.

Company Contact:
Anthony Christon
Chief Financial Officer
Jaclyn, Inc.
(201) 909-6000

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