Sharper Image Corporation Signs Licensing Agreement With Moneual Lab for GPS Navigational Devices

SAN FRANCISCO--(BUSINESS WIRE)--Sharper Image Corporation (NASDAQ:SHRP) today announced the signing of a multiyear licensing agreement with Polaris Media Research, Inc. d/b/a Moneual Lab, a leading manufacturer and distributor of GPS Navigation Devices (“Moneual Lab”). The product line will be manufactured by Ubistar, one of Korea’s top manufacturers of GPS receivers.

“We are tremendously excited about this license agreement with The Sharper Image. With the support and cutting edge technology that we will bring to Sharper Image GPS systems, we feel that we will offer high quality and unique convenience that will enhance travel of all kinds.”

Under the agreement, Moneual Lab will offer handheld GPS Navigation Systems that represent the values of quality, excitement and innovation associated with The Sharper Image brand. The products will feature a state-of-the-art, user friendly interface that will make Sharper Image GPS receivers unique in the market. Other features include multimedia functions such as MP3 playback, image viewing and games. The units will also be loaded with over 6 million points of interest. The first Sharper Image GPS products will be launched in early 2008 at leading mid-tier and better retailers.

John W. Spotts, Senior Vice-President, Brand Licensing for The Sharper Image, said: “This license is a close fit with The Sharper Image brand and customer demographics, and we are thrilled to have such a strong, proven partner in this rapidly growing category.”

Scott Park, Senior Vice President of Moneual Lab, added: “We are tremendously excited about this license agreement with The Sharper Image. With the support and cutting edge technology that we will bring to Sharper Image GPS systems, we feel that we will offer high quality and unique convenience that will enhance travel of all kinds.”

About Sharper Image

The Sharper Image (‘The Company”) is a specialty retailer that is nationally and internationally renowned as a leading source of new, innovative, high-quality products that make life better and more enjoyable. The Company's principal selling channels include 186 Sharper Image specialty stores throughout the United States; the award-winning Sharper Image monthly catalog; and its primary Web site, www.sharperimage.com. The Company also has business-to-business sales teams for marketing its exclusive and proprietary products for corporate incentive and reward programs and wholesale to selected U.S. and international retailers.

About Moneual Lab

Moneual Lab is a leading home entertainment system solutions provider based in Irvine, California. Specializing in providing home media PC technologies, Moneual offers premium class home entertainment systems which incorporate some of the most advanced PC technologies including water cooling power supply units, HDMI capable graphics cards, PCI HDTV tuner cards, wireless video transmission, and a dual LCD remote control system. Moneual is partnered with top technology companies such as Intel, Microsoft, AMD, ASUS computer, and NVIDIA. Recently, Moneual has extended its business capability into the GPS navigation market in cooperation with UBISTAR in Korea.

About Ubistar

UBISTAR. Co, Ltd. was established in 1992 as a pioneer of GPS/GIS solutions in Korea. The company is a global force in electronics, information, and communications products. With outstanding manpower and technology, UBISTAR is comprised of five main business companies including GPA&LBS, DMB, CDMA WLL, VOIP, and WiBro. UBISTAR’s goal is to enable the intelligent networking of digital products that will make consumers’ lives better than ever.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the Sharper Image’s (“the Company’s”) current plans, expectations, estimates, and projections about the specialty retail industry and management's beliefs about the Company’s future performance. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" or variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties that are difficult to predict and which may cause the Company's actual results and performance to differ materially from those expressed or forecasted in any such forward-looking statements. Some of these risks and uncertainties are discussed in the Company’s Annual Report on Form 10-K for the year ended January 31, 2007 under “Risk Factors”. These risks include, among other factors, the success of its new business strategy, its ability to continue to find or develop and to offer attractive merchandise to customers, the market potential for products in design, the success of its advertising efforts, changes in business and economic conditions, risks associated with its retail store, catalog and Internet operations, and changes in the competitive environment in which it operates. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements. However, readers should carefully review the statements set forth in the reports, which the Company files from time to time with the Securities and Exchange Commission, particularly its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.