Tully & Holland Advises HSN, Inc. in the Sale of The Territory Ahead

Wellesley, MA - August 1, 2012 - Tully & Holland, Inc. is pleased to announce its role as financial advisor to HSN, Inc. (Nasdaq: HSNI) and its subsidiary, Cornerstone Brands, Inc., in the sale of The Territory Ahead www.territoryahead.com to Territory Ahead Apparel, Inc., an affiliate of Blackstreet Capital. Terms of the transaction were not disclosed.

The Territory Ahead is a leading direct marketer of men's and women's apparel with a distinct, casual Santa Barbara style. The Territory Ahead sells its unique, "threads up" apparel through its catalog, website and several stores. Founded in 1988, the brand was bought by Cornerstone Brands in 1999.

About HSN, Inc. and Cornerstone Brands
HSN, Inc. www.hsni.com is a $3 billion interactive multi-channel retailer with strong direct-to-consumer expertise and operates two business segments, HSN and Cornerstone. HSN, Inc. offers an innovative, differentiated retail experience on TV, online, via mobile, in catalogs, and in brick and mortar stores.

Cornerstone is comprised of leading home and apparel lifestyle brands, including Ballard Designs, Frontgate, and Garnet Hill. Cornerstone operates seven separate e-commerce sites, distributes more than 300 million catalogs annually, and has 11 retail and outlet stores.

About Blackstreet Capital
Blackstreet Capital www.blackstreetcapital.com is a Chevy Chase, MD-based private equity firm with approximately $200 million under management. Blackstreet focuses on control buyouts of corporate divisions with $25-$150 million of revenue. To date, Blackstreet Capital has invested in 30 companies with combined sales in excess of $1.5 billion and over 8,000 employees.