Michael Anthony Jewelers, Inc. Announces Delisting of Common Stock And Application to Suspend Its Duty to File Reports With the Securities and Exchange Commission MT. VERNON, N.Y., Feb. 20 /PRNewswire-FirstCall/ -- Michael Anthony Jewelers, Inc. today announced that its application filed with the Securities and Exchange Commission (SEC) to withdraw its Common Stock from listing and trading on the American Stock Exchange has been granted effective opening of business February 20, 2004. Effective today, the Company's shares are no longer traded on the American Stock Exchange and the Company's Common Stock is now being quoted by Pink Sheets LLC under the symbol "MAJI". The "Pink Sheets" is a centralized quotation service that collects and publishes market maker quotes in real time, primarily through its website, http://www.pinksheets.com/, which provides stock and bond price quotes, financial news and information about securities traded. In addition, the Company announced that it has filed with the SEC on Form 15 its notice to suspend its duty to file reports under the Securities and Exchange Act of 1934. The Company expects the suspension to become effective within 90 days of the filing with the SEC. As a result of the Form 15 filing, theCompany's obligation to file with the SEC certain reports and forms, including Forms 10-K, 10-Q and 8-K, have ceased. The Company expects to realize significant cost savings as a result of being relieved of its SEC periodic reporting requirements. Michael Anthony Jewelers is a leading designer, marketer and manufacturer of affordable fine jewelry, whose customers include jewelry chain stores, discount stores, department stores, television shopping networks, catalogue retailers 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. DATASOURCE: Michael Anthony Jewelers, Inc. CONTACT: Michael Paolercio, Chief Executive Officer of Michael Anthony Jewelers, Inc., +1-914-699-0000, ext. 290 Web site: http://www.michaelanthony.com/

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