Porter Orlin LLC Submits Letter to the Board of Directors of Matrixx Initiatives

On January 10, 2011, Porter Orlin LLC, a New York-based registered investment adviser and shareholder of Matrixx Initiatives, Inc.

, sent a letter to the Board of Directors of the Company regarding the Company's announcement on December 14, 2010 of (i) its entry into a merger agreement with certain affiliates of H.I.G. Capital, LLC (“HIG”) and (ii) the Board's recommendation that shareholders accept HIG's related tender offer at a price of $8.00 per share. The letter expresses Porter Orlin's belief that the proposed transaction severely undervalues the Company and will deprive shareholders of the full value of their investment.