March 3rd, 2008 – Houchens Industries announced today closing of the acquisition of all franchise assets of Cohen Fashion Optical. Inc.

Jimmie Gipson, Chairman, and Spencer Coates, President, of Houchens Industries announced today the closing of the acquisition of all franchise assets of Cohen Fashion Optical. Inc., headquartered in Garden City, New York. Houchens Industries, Inc is a diversified conglomerate, wholly owned by its employees and has its corporate offices in Bowling Green KY. Houchens is listed as one of the largest 100% employee owned companies in the United States.

Cohen’s principal business is granting franchises to operate retail optical stores under the name Cohen’s Fashion Optical, offering eye exams, prescription eye glasses, contact lenses, sunglasses, and related items and services. Cohen’s has been operating retail optical stores and granting franchises for retail optical stores since incorporation in 1978. The concept for Cohen’s Fashion Optical stores began in 1924 with the operation of a single retail store in New York City.

Today there are over 100 Cohen’s Fashion Optical stores in major malls and convenient city locations in six Eastern seaboard states and Puerto Rico. The company enjoys a very significant presence in New York City. In announcing the closing of the transaction, Mr. Gipson stated, “We are excited about this acquisition, and we believe it will be beneficial to our company and its employee owners. The acquisition represents an opportunity to further diversify our business operations into a new area and territory.” Mr. Coates stated that Houchens is excited to be working with Cohen management and looks forward to them continuing to manage and grow the business.

Dr Robert Cohen, President of Cohen Fashion Optical, Inc. said, “This acquisition of our Franchise Division truly marks a milestone in the eighty year plus history of our company. This new alliance with Houchens Industries greatly facilitates and expedites our strategic expansion into a national chain.” Working closely with his present management team, Dr Cohen looks forward to expanding Cohen’s, the most successful regional optical chain, onto the national scene.

Deutsche Bank Securities Inc. acted as advisor to Cohen’s Fashion Optical, Inc.

Press inquiries should be directed to Spencer Coates, President, Houchens Industries 270-780-2865 (office) or 270-535-7748 (cell) and Dr Robert Cohen, President, Cohen’s Fashion Optical, 516-390-2200.