UPTOWN CHEAPSKATE, NEW FASHION EXCHANGE RETAILER, SELECTS ROCKVILLE PIKE FOR NEW LOCATION

Rockville (Sept 26, 2012) – Uptown Cheapskate, a national franchise utilizing a “fashion exchange” concept that targets a 13 to 35 year old demographic, has chosen Edmonston Crossing Shopping Center as the site for
its inaugural Washington DC-area location. Former South Moon Under executives Nancy Kline and Emily Schramm, who opened their first Uptown Cheapskate franchise in Salisbury, MD in September 2010 and second Uptown Cheapskate franchise in Timonium, MD in July 2011, are targeting a late October opening for their latest 4000 square foot store, at 1038 Rockville Pike.

Headquartered in Salt Lake City, Uptown Cheapskate operates twenty “fashion exchange” stores around the country, with several more to open within the next year. The store concept enables consumers to purchase name brand clothing, shoes, and accessories such as abercrombie & Fitch, Citizens of Humanity, Roxy/Quiksilver, Coach, Michael Kors, North Face, Ugg, Hollister and Juicy Couture at a fraction of their original retail sales price. The store accepts only freshly-laundered, gently-worn, in-style men’s and women’s 
fashions -- such as skirts, dresses, denim, jackets, shirts, handbags and accessories -- that can be quickly re-sold to customers interested in the latest clothing styles. The Rockville location is currently accepting merchandise to stock its inventory, followed by a grand opening to local
consumers in late October.

“It is important for consumers to differentiate Uptown Cheapskate from the typical consignment shop,” explained Nancy Kline, who spent more than 32 years with South Moon Under, rising to the position of Chief Operating Officer. “We pay cash immediately to the seller, whereas sellers to traditional consignment shops must wait for payment until after their item is sold. While our target
demographic caters to the brands developed to appeal to the 15-35 year old market, we find that most of these brands are not so much age specific but more lifestyle specific. They appeal to those who have an interest in current fashion and like to change out their wardrobe on a regular basis. Our store concept brings tremendous affordability to high-end brand names for consumers
looking for current styles to add to their wardrobe. It also allows customers to quickly cycle clothing through their closets and receive value for unwanted items.   

Owners Nancy Kline and Emily Schramm offer the following example concerning how the concept operates: A consumer purchases a pair of True Religion jeans for
approximately $200, wears them a few times and decides her wardrobe needs a makeover. After cleaning out her closet, she brings the things she is willing to part with to Uptown Cheapskate. The buyer reviews her items and makes a cash offer between 25% and 35% of the new resale price – for example, the jeans would be priced at $59.99, netting her $18.00 in cash or $22.50 in store
credit. Two days later, a 20-year old college student purchases the gently-worn jeans for $59.99 and leaves the store feeling elated because she saved more than $140.00

“Fashions and trends are constantly changing and it is financially difficult for many consumers to immediately purchase the latest styles,” stated Schramm, who spent
more than twelve years with South Moon Under as an assistant store manager and in the e-commerce division, as well as five years on the wholesale side of the fashion business representing Roxy and Billabong. “We are ideal for the fashionista on a budget who will be rewarded with a price that is seventy percent lower than the original retail price.”

The entrepreneurs decided to invest with the Uptown Cheapskate concept rather than inventing a new fashion exchange retailer, largely due to the franchise’s UC
Buyer software that produces immediate and accurate pricing on items they are considering for purchase. “All of the guesswork is taken out of the buying process, which is extremely critical for the success of our store. The concept
has been overwhelmingly embraced by the Salisbury and Baltimore markets and we are anticipating a similar reception in the Washington DC region,” added Nancy
Kline.