Icon Merger Sub, Inc. Extends Expiration Date of Offer to Purchase All Outstanding Shares of Playboy Enterprises

Icon Acquisition Holdings, L.P. today announced that its wholly owned subsidiary, Icon Merger Sub, Inc. , has extended the expiration date of its offer to purchase for cash all of the outstanding shares of Class A common stock (NYSE: PLA.A) and Class B common stock (NYSE: PLA) of Playboy Enterprises, Inc. at a purchase price of $6.15 per share, net to the seller in cash, without interest thereon, less any applicable withholding taxes.

The offer is now scheduled to expire at 5:00 p.m., Eastern time, on March 3, 2011, unless further extended. The offer was previously scheduled to expire at 5:00 p.m., Eastern time, on February 22, 2011. All other terms and conditions of the offer remain unchanged.