BIDZ.COM Merger Status Update

BIDZ.COM Merger Status Update

REDONDO BEACH, Calif., Oct. 11, 2012 (GLOBE NEWSWIRE) -- As previously
announced, on September 27, 2012, BIDZ.com, Inc. (Nasdaq:BIDZ), a leading
online retailer of jewelry, held its annual meeting of stockholders. At the
annual meeting, each proposal presented at the annual meeting was approved by
the required vote of Bidz.com stockholders, including the adoption of the
merger agreement with Glendon Group, Inc. As previously announced, each
condition to Glendon Group's obligation to close the merger has been
satisfied.

On October 4, 2012, BIDZ announced that it had agreed to extend the deadline
for Glendon Group to close the merger until October 10, 2012.

As of the close of business on October 10, 2012, Glendon Group has not closed
the merger.

The Company has agreed to provide Glendon Group until the close of business on
Monday, October 15, 2012 to close the merger.

About Bidz.com

Bidz.com, founded in 1998, is a leading online retailer of jewelry. Bidz
offers its products through a live auction format as well as a fixed price
online retail store, Buyz.com. Bidz also operates Modnique.com, a division of
Bidz.com, a flash sale shopping website, offering authentic premium brand name
merchandise. Modnique offers its members exclusive access to 24-72 hour sales
events on designer apparel, accessories, shoes, and housewares and much more
at price points up to 85% below traditional retail prices.

CONTACT: Bidz.com, Inc.
         Tawnia Suggs
         Investor Relations
         tsuggs@bidz.com
 
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