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Leading personalization provider Skinit, Inc. receives $60 million

New Capital to Fuel Growth, Expand Product Offering, Enhance Sales and Marketing Capabilities

San Diego, California - July 20, 2010 - Skinit, Inc. ("Skinit" or the "Company"), a leading provider of technology and products to customize personal electronic devices (PEDs) on-demand, today announced a $60 million investment led by ABS Capital Partners ("ABS Capital"), a leading later-stage growth company investor, and Norwest Equity Partners, a leading middle market private equity firm. Skinit will use the funds to invest in new products and sales and marketing as well as to purchase a portion of the shares owned by founding shareholders. As a result of the financing, the Company's board will be expanded by the addition of Mark Anderson, General Partner at ABS Capital, Phil Clough, Managing General Partner at ABS Capital, and Tom Schauerman, Principal at Norwest Equity Partners, who will join the board as an observer. "Skinit revolutionized the ability for the consumer to customize an individual device in a cost effective manner and became a nationally recognized consumer brand and clear market leader in an industry that didn't exist five years ago," said founder and CEO Paul Buss. "Consumers have embraced the leading edge personalization and design tools that Skinit has developed. Our platform is being embraced and implemented into various supply chains by Fortune 1000 companies to power their personalization objectives in the consumer electronic industry." Skinit's strategy is centered upon a technology platform that leverages a robust infrastructure, including patent-pending technology that integrates disparate functions and high quality 3M products, to bring on-demand personalization to consumers for their PEDs, including cell phones, PDAs, laptops and game consoles. The Company offers its product directly to consumers as well as through partnerships with PED manufacturers, wireless carriers and retailers. Since 2006, Skinit has sold more than 1.6 million skins and shells directly through its website and millions more through retailers and promotional programs. For direct consumers, and affiliate websites offer a library of licensed and proprietary artwork; Skinit also provides a Customizer tool that enables consumers to upload their own photos and manipulate designs for a custom product. "Skinit does more than just provide a library of artwork for consumers," said Anderson. "The Company's technology and important relationships makes it the best solution for both consumers and companies looking for speedy customization of their devices." "This investment is a great growth opportunity for Skinit," said Schauerman. "From an investor perspective, we are excited to have yet another opportunity to partner with ABS Capital, and we look forward to working together with the Company's management team to achieve its growth objectives." Skinit also announced that Buss will transition out of his role as CEO following the investment. "Paul let us know early on in our conversations that he thought this would be the right time for him to step down, especially having brought the Company to this point in its growth. Paul's business acumen and solid execution across all elements of the business have truly positioned Skinit as a leader in the trend toward personalization of electronic devices," stated Anderson. Buss was a finalist for the 2010 Ernst & Young Entrepreneur of the Year San Diego Award. "It took a lot of hard work by the ever-growing team to bring the company to this level of rapid growth in two business units simultaneously," said Buss. "I look forward to seeing Skinit work with our new investment partners and this injection of capital helping to increase both our revenue growth and market share as the industry leader in personalization." Kevin Roberts, a seasoned executive who has been a consultant to the senior management team, will be the interim CEO while a search is conducted. Kevin will also join the Company's Board of Directors following the financing. Over the last year, the Company has successfully expanded its business model to include licensing technology that enables on-demand personalization. Skinit currently powers more than 19 personalization programs for Fortune 1000 companies in the medical, wireless, retail, consumer electronic, home appliance and commercial graphic industries. Some of the Company's customers include:, AT&T, Best Buy, Coca-Cola, Dell, Disney, Hewlett-Packard, Intel, Microsoft, Sprint Nextel, State Farm Insurance, Verizon and Walmart. For more information, please visit About Skinit, Inc. Skinit, Inc. is the industry leader in On-Demand Personalization Technology including the manufacture and distribution of customized products for electronic devices. Skinit's online ordering and customization tools allow consumers to create branded, designed, and personalized electronic device covers, or skins, using high quality 3M products. Skinit also offers B2B On-Demand Personalization Platforms as complete turn-key or stand-alone hosted software and service solutions which drive manufacturing technologies such as laser etching, paint on-demand, digital print, film conversion, and others. Located in San Diego, CA USA. About ABS Capital Partners ABS Capital Partners invests in the very best later-stage growth companies, partnering with CEOs to create a bridge to the next critical stage of success. Whether success is defined as a winning IPO like American Public Education, NeuStar, and Rosetta Stone or a rewarding sale such as US Labs, Course Advisor and Advanced Disposal, ABS Capital's financial backing and active partnership supports the CEO in tackling the challenges of rapid growth and creating significant long-term value. Our partners are highly experienced at working with growth companies - each having spent between one and three decades in their industry as C-level executives, investment bankers, and investors. Our practical, down-to-earth approach enables a strong partnership to determine and achieve well-defined goals. Our extensive network of resources delivers vital industry connections to our portfolio companies enabling them to capitalize on their competitive advantage. ABS Capital Partners specializes in four growth sectors - business services, health care, media and communications and technology. With over $2 billion raised since inception, including $420 million in our latest fund, ABS Capital continues to build on its strong reputation for teaming with market leaders to deliver strong returns to investors. About Norwest Equity Partners Partnering with management teams since 1961, Norwest Equity Partners (NEP) is a leading private equity firm focused on building companies into industry leaders. With a reputation for quality investments and exceptional financial returns, NEP manages $4.6 billion of capital through a series of equity and mezzanine funds. The firm, headquartered in Minneapolis, Minnesota, is currently investing NEP IX, a $1.2 billion fund. Contact: Matt Gehring Vice President of Marketing Skinit, Inc. 858-433-2580 x7052 Stephanie Carter Marketing & Communications Partner ABS Capital Partners 410-246-5609 Heather Goodwin Director of Marketing Norwest Equity Partners / Norwest Mezzanine Partners 612-215-1676