Harry & David Holdings Objection Filed

Pension Benefit Guaranty Corporation (PBGC) filed with the US Bankruptcy Court on June 8, 2011 an objection to Harry & David Holdings' motion for order determining that the financial requirements for a distress termination of their defined benefit pension plan are satisfied and approving a distress termination of the pension plan. According to the PBGC, unfunded pension promises could be as high as $44 million. The Court scheduled a July 22, 2011 hearing on the distress termination motion.