fashionmall.com not looking to sell, but listening

fashionmall.com, Inc. acknowledged receipt of a letter from GenesisIntermedia.com, Inc. proposing a business combination in which each of the holders of fashionmall.com's common stock would receive $2 in cash and 0.29 shares of the common stock of GenesisIntermedia.com for each share of fashionmall.com common stock. Fashionmall CEO Ben Narasin indicated that despite the recent expressions of interest, fashionmall.com was not seeking to sell itself, but noted that the company hoped to obtain additional information from GenesisIntermedia.com and that the Board would evaluate the proposal in the near future. If GenesisIntermedia.com engages in a tender offer, fashionmall.com will advise its stockholders of its position with respect to such tender offer within 10 business days.