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Matrixx Initiatives, Inc. Summarizes Ongoing 'Go-Shop' Process and Board Reaffirms Recommendation
Date:1/21/2011

party.  Matrixx remains open to receiving competing proposals and will continue to work with its financial advisor through the balance of the go-shop period (which expires January 22) to continue to solicit and encourage alternative acquisition proposals.  However, Sawaya Segalas has advised the management of the Company that it does not believe any proposal will be submitted as a result of its go-shop efforts.

In view of the current absence of any proposal or indication of interest, and for the reasons provided in the Company's Solicitation/Recommendation Statement on Schedule 14D-9 for the transaction filed with the United States Securities and Exchange Commission ("SEC") on December 22, 2010, as amended, (the "Schedule 14D-9"), the Company's board of directors continues to recommend that the stockholders of Matrixx accept the tender offer and tender their shares of common stock to Wonder pursuant to the tender offer.  

About Matrixx Initiatives, Inc.

Matrixx Initiatives, Inc. is an over-the-counter healthcare company that develops and markets Zicam® products. Zicam, LLC, its wholly-owned subsidiary, markets and sells Zicam® products in the cough and cold category. The Company markets Zicam brand pharmaceuticals, including Zicam Cold Remedy in multiple oral delivery forms; Zicam Allergy and Congestion Relief products; as well as Zicam Cough and Zicam Multi-Symptom relief items. For more information regarding Matrixx products, go to www.Zicam.com. To find out more about Matrixx Initiatives, Inc., visit our website at www.matrixxinc.com. For additional information, contact William Hemelt, President and Chief Executive Officer, at 602-385-8888, or Bill Barba, Vice President of Finance & Accounting, at 602-385-8881. Matrixx is located at 8515 E. Anderson Dr., Scottsdale, Arizona 85255.

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