Everest Special Situations may seek representation on Concord Camera's board

By Lisa Kerner

Charlotte, N.C., Feb. 20 - Concord Camera Corp. investor Everest Special Situations Fund LP offered to assist the company as it explores strategic alternatives.

But if Concord Camera's board fails to take actions that Everest believes are in the stockholders' best interests, Everest said it will take action, which could include seeking representation on the company's board.

Everest, with a 5% stake in the company, said it believes in Concord Camera's long-term prospects "despite its poor operating performance over the last four years."

In addition, Everest encouraged the company in its efforts "to reverse Concord's recent run of sixteen straight quarters of losses and maximize value for stockholders."

Based in Hollywood, Fla., Concord Camera develops, manufactures and sells single-use and 35 mm traditional film cameras.

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