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C.W. Downer & Co. Advises A.T. Cross Company on the Sale of its Cross Accessory Division to Clarion Capital Partners

BOSTON, September 9, 2013 – C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that A.T. Cross Company (NASDAQ: ATX)(the “Company” or “A.T. Cross”) of Lincoln, RI has completed the sale of its Cross Accessory Division (“Cross” or the “Division”) to a newly formed affiliate of Clarion Capital Partners (the “Buyer”) for a cash purchase price of $60 million. A.T. Cross announced that it had appointed C.W. Downer & Co. as its financial advisor to explore strategic alternatives for the Division on February 4, 2013.

Founded in 1846, Cross is a leading international designer, manufacturer and marketer of high-quality, premium writing instruments as well as personal and business accessories including timepieces, leather goods, reading glasses, desk sets and stationery. Cross is an iconic brand and widely considered to be one of the most recognizable fine writing instrument brands in the world. With the sale of the Division, the Company will focus its efforts on the continued expansion of its fast growing Cross Optical Group, which includes the premium sports sunglass brands Costa and Native.

David G. Whalen, President and Chief Executive Officer of A.T. Cross commented, “We were extremely pleased to have worked with C.W. Downer & Co. on this transaction, which has helped us unlock value for our shareholders. C.W. Downer’s thoughtful approach and dedication to this transaction was instrumental in achieving this successful outcome.” Mike Howell, Managing Director & Partner at C.W. Downer & Co. added, “We were honored to have been entrusted with the sale of a business such as Cross with an iconic brand, rich history and longstanding tradition of excellence.”

The C.W. Downer & Co. team advising A.T. Cross on the sale included Mr. Howell (Managing Director & Partner), Frank Merkel (Managing Director & Partner), Jochen Köhler (Vice President), Breck Bailey (Associate) and Charles-Henri Raindre (Analyst).

About C.W. Downer & Co.

C.W. Downer & Co. is an independent, global investment bank offering middle-market clients a high level of personal attention coupled with 38 years of international execution experience. We provide insight, not just information. We generate value, not just transactions. With nine fully integrated offices on four continents, we consistently identify the most appropriate strategic buyer and uncover “hidden” acquisition targets. C.W. Downer & Co. delivers the reach of a bulge-bracket investment bank with the senior level focus of a boutique. For more information, visit http://www.cwdowner.com.

For Further Information:

Michael Howell, Managing Director & Partner
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Frank Merkel, Managing Director & Partner
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Patti Allan, Marketing Director
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C.W. Downer & Co.
+1 617 482 6200

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