Blyth Announces Plan to Repatriate up to EUR 104 Million under the American Jobs Creation Act of 2004

Subject to Board approval of a domestic reinvestment plan, Blyth announced that it intends to repatriate up to EUR 104 million (approximately $130 million) in foreign earnings, which were previously considered permanently reinvested in non-U.S. legal entities, under the American Jobs Creation Act of 2004. The funds are expected to be brought back to the U.S. late in the fourth quarter and will receive the favorable tax treatment provided by the Act. The company expects to record a one-time tax expense of up to approximately $9.8 million ($0.24 per share) in the fourth quarter to recognize the income tax liability associated with repatriating these funds. As part of the plan, the company plans to make a domestic investment of the repatriated amount in a wide range of initiatives, including the hiring and training of U.S. workers, research and development efforts, qualified retirement plan funding, capital expenditures to support the U.S. businesses, advertising and marketing with respect to its various trademarks, brand names and rights to intangible property, and acquisitions of U.S.-based businesses, all consistent with the requirements of the legislation.