PLANTATION AND JACKSONVILLE, FL., April 16, 2012 – Dreams, Inc. (NYSE Amex: DRJ), a technology-driven, multi-channel retailer focused on the licensed sports products industry, has signed a definitive merger agreement with Fanatics, Inc., a leading online seller of licensed sports products.

The agreement calls for Fanatics to acquire all the outstanding shares of the company for $3.45 per share in cash for an aggregate transaction value of approximately $183 million, taking into account $25 million of outstanding debt. The offer represents a premium of 32.0% over Dreams' closing share price of $2.61 on April 13, 2012, the last trading day prior to this announcement.

The Board of Directors of Dreams has unanimously approved the transaction, which is subject to customary closing conditions, including the approval of Dreams' shareholders and regulatory approvals. The transaction is expected to close in the third quarter of 2012.