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September 21, 2006 Stock Pick: Blue Holdings, Inc. (BLUE)

Stock Price: $4.75

Blue Holdings, Inc. designs, develops, manufactures, markets, distributes and sells high-end fashion jeans, apparel, and accessories with a western flair. Business is through their wholly owned subsidiaries, Antik Denim, LLC and Taverniti So Jeans, LLC, in the United States and internationally.

BLUE reported a net sales increase of 167% to $15.2 million and net income increase of 68% to $1.7 million for the second quarter. The company expects 2006 net sales to be in the range of $60 million - $70 million, consistent with prior outlook.

BLUE is at a market cap of $123.77 million off 47% from its high of $9.05 on the year.

BLUE is well diversified with several different high end brands. BLUE diversified itself even further within the denim space by signing a definitive merger agreement with Up Against the Wall, a high-end denim retailer.

When BLUE moves, it will do so quickly with only 3.15 million shares in the float.

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