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EXHIBIT 99.1
SALTON, INC. ENTERS INTO EXCLUSIVITY AGREEMENT.
LAKE FOREST, Ill.--November 15, 2006--Salton, Inc. (NYSE:SFP)
announced today
that the company has entered into an exclusivity agreement with
Harbinger
Capital Partners Master Fund I, Ltd. (Harbinger). The agreement
provides that
Salton will not on or prior to December 15, 2006 solicit or,
subject to certain
exceptions, otherwise negotiate any acquisition proposal involving
Salton with
any person other than Harbinger. Salton and Harbinger are currently
in
discussions with respect to a possible combination of Salton and
Applica, which
is party to a definitive agreement to be acquired by certain
affiliates of
Harbinger. Harbinger has agreed to use its commercially reasonable
efforts to
complete its due diligence and negotiate customary commitment
letters in respect
of financing for the combined companies, in each case on or prior
to December
15, 2006.
Salton emphasized that there can be no assurance that any
transaction will occur
or, if one is undertaken, of its potential terms or timing. Salton
may not
update its progress or disclose developments with respect to
potential strategic
initiatives unless the Board of Directors has approved a definitive
course of
action or transaction.
ABOUT SALTON, INC.
Salton, Inc. is a leading designer, marketer an
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