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Freedom Group Acquires Para USA

Freedom Group, Inc. (FGI)

Madison, NC –-(Ammoland.com)- Freedom Group, Inc., (FGI) through a wholly owned subsidiary has announced today that it has finalized an asset purchase agreement to acquire certain assets of Para USA, INC., (Para).

Founded in 1985, Para has built a solid and enviable reputation for innovation, performance and reliability.

PARA USA

Firearms enthusiasts, serious shooting competitors and law enforcement agencies choose with confidence from a wide and growing variety of Para pistols. Para’s revolutionary high capacity frame and light double action ( LDA ™) trigger systems, are part of the innovation that Para has brought to the world famous 1911 design.

“We welcome Para into the Freedom Group Family of Companies,” stated. E. Scott Blackwell, Chief Sales and Marketing Officer of Freedom Group Inc.

“Para USA is a leader in handgun technology and their fine products exemplify quality, innovation and performance. Para is a perfect complement to our industry-leading family of brands, and our success in 2011 with the Remington R1 – 1911. We look forward to deploying both human and financial resources to continue to develop and supply current and future handguns for consumers and our channel partners. We also wish to thank all its employees for their continued dedication that has made Para a success.”

Para will continue day-to-day operations at their Pineville, NC based facility. Visit: www.paraord.com

About Freedom Group, Inc.
Freedom Group is the world’s leading innovator, designer, manufacturer, and marketer of firearms, ammunition, and related products for the hunting, shooting sports, law enforcement, and military markets. As one of the largest manufacturers in the world of firearms and ammunition, we have some of the most globally recognized brands including Remington, Bushmaster, DPMS/Panther Arms, Marlin, H&R, Parker, Mountain Khakis, AAC, and Dakota. The Company distributes its products throughout the U.S. and in over 80 foreign countries. More information about the Company can be found at www.freedom-group.com.

The Company assumes no obligation to update publicly such forward–looking statements, whether as a result of new information, future events or otherwise.

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Remington Arms Company

Madison, NC --(Ammoland.com)- Remington Arms Company and its parent, Freedom Group, Inc. (FGI), are pleased to announce that the board of directors has appointed Robert L. Nardelli as Chief Executive Officer.

Mr. Nardelli was named director and a member of FGI’s Office of the CEO in September, 2010, following the resignation of the former CEO.

Robert L. Nardelli

“Over the past 15 months, under Bob Nardelli’s strong leadership, Freedom Group has enhanced its operational capabilities and is now positioned to focus on customers with renewed intensity on technology and product development,” said John Blystone, Chairman of Freedom Group, Inc.”We are most fortunate to have one of the top business leaders of his generation at the helm of this iconic American company.”

Mr. Nardelli joined Cerberus Capital Management in the spring of 2007, and, shortly thereafter, was named Chairman and Chief Executive Officer of Chrysler Motors Company, LLC.

Mr. Nardelli will continue to serve as an advisor to Cerberus and CEO of its operations team, Cerberus Operations and Advisory Company, LLC. Prior to joining Cerberus, Mr. Nardelli was Chairman and CEO of the Home Depot, Inc.

About Freedom Group, Inc.
Freedom Group is the world’s leading innovator, designer, manufacturer, and marketer of firearms, ammunition, and related products for the hunting, shooting sports, law enforcement, and military markets. As one of the largest manufacturers in the world of firearms and ammunition, the company has some of the most globally recognized brands including Remington, Marlin, Harrington & Richardson, New England Firearms, L.C. Smith, Parker, Bushmaster, DPMS/Panther Arms, EOTAC, and INTC.

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