APN Apeiron Capital Investment Corp

NEW YORK, Nov. 15 /PRNewswire/ -- Harbinger Capital Partners Master Fund I, Ltd. and Harbinger Capital Partners Special Situations Fund, L.P. (together, "Harbinger Capital Partners") today responded to litigation initiated by NACCO Industries, Inc. (NYSE:NC)("NACCO") against them and certain individuals and entities affiliated with Harbinger Capital Partners regarding its merger agreement with Applica Incorporated (NYSE:APN)("Applica"), and Applica. Harbinger Capital Partners said that it was regrettable that NACCO has now resorted to litigation in an apparent attempt to deprive Applica shareholders of the full value of the transaction with Harbinger Capital Partners. Harbinger Capital Partners believes that NACCO wants to force the Applica shareholders to accept the consideration offered in the NACCO transaction, rather than the all-cash consideration offered in the superior transaction with Harbinger Capital Partners. Harbinger Capital Partners strongly believes that this lawsuit is completely without merit and, together with Applica, intends to defend vigorously its position. About Harbinger Capital Partners: The Harbinger Capital Partners investment team located in New York City manages in excess of $4 billion in capital through two complementary strategies. Harbinger Capital Partners Master Fund I, Ltd. is focused on restructurings, liquidations, event-driven situations, turnarounds and capital structure arbitrage, including both long and short positions in highly leveraged and financially distressed companies. Harbinger Capital Partners Special Situations Fund, L.P. is focused on distressed debt securities, special situation equities and private loans/notes in a predominantly long- only strategy. This press release does not constitute a solicitation of a proxy for or with respect to the annual meeting or any special meeting of Applica shareholders. Any such solicitation will be made only pursuant to separate proxy solicitation complying with the requirements of Section 14(a) of the Securities Exchange Act of 1934, as amended. Contacts: For Harbinger Capital Partners: Jeremy Fielding/Mark Semer Kekst and Company (212) 521 4800 DATASOURCE: Harbinger Capital Partners CONTACT: Jeremy Fielding, or Mark Semer, Kekst and Company For Harbinger Capital Partners, +1-212-521-4800

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