American Greetings to Sell Party Goods Business, Production Operations to Amscan

American Greetings expects to receive cash of approximately $25 million and a warrant to purchase approximately 2% of the Class A Common Stock of AAH Holdings Corporation, Amscan's ultimate parent corporation.

As a result of this transaction, American Greetings will wind down its manufacturing of party goods products. American Greetings expects to incur non-cash asset impairment costs of approximately $10 million to $15 million. In addition, American Greetings expects to incur facility related cash closure costs, primarily severance, in an amount that is still being quantified.