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iFLOOR Reaches Half Million Customers Opens 32nd Store



iFLOOR (http://www.ifloor.com/index.html) company, today announced that it has reached the 500,000 customer mark and has just opened its 32nd retail store in Rocklin, CA, following recent store openings in Brooklyn, NY; Concord, CA; and Bellevue and Everett, WA. iFLOOR, which offers over 70,000 products online, is set for continued strong growth in the second half of 2007 and has secured an additional $7.5 million in funding commitments to enable the company to open another ten stores before the end of the year. Overall, iFLOOR is anticipating 50% growth in its core business in 2007.



iFLOOR also announced today that Brenda Morris, former CFO of specialty teen retailer Zumiez Inc. (NASDAQ: ZUMZ), has joined iFLOOR as its new CFO. During her four-year tenure at Zumiez, the company grew from 99 stores to approximately 250, while also completing an IPO, two secondary offerings and the acquisition of a twenty-store chain. Morris joins industry veterans Jeff Butler, EVP Stores; Steve Simonson, CEO; and Rick Altenhofen, EVP of business strategy.



Other key milestones in the first half of 2007 include:



- Secured $7.5M line of credit: Earlier this year, iFLOOR secured a $7.5M line of credit from Comerica Bank to support the company's continued business expansion. This line of credit brings iFLOOR's total financing commitments to $17.5 million, which includes a 2006 Series B financing round led by top consumer venture capital firm Maveron LLC (http://www.ifloor.com/installation/package_types.html) to its customers. Overwhelmingly positive reception has brought the total number of completed projects in this pilot program to 3,000 as of the end of Q2 2007.



- Increased registered web site users by 40%: As the number one online retailer of flooring products, iFLOOR.com continues to grow its online business at a rapid rate, showing a 40% increase in registered users over the previous year, while at the same time expanding its retail outlets to better serve consumers.



"iFLOOR's success reflects the appeal of our approach: combining superior customer service with competitive pricing," said Steve Simonson (www.ifloor.com.






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