<SEC-DOCUMENT>0000905718-14-000598.txt : 20140929
<SEC-HEADER>0000905718-14-000598.hdr.sgml : 20140929
<ACCEPTANCE-DATETIME>20140929172002
ACCESSION NUMBER:		0000905718-14-000598
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20140929
DATE AS OF CHANGE:		20140929
GROUP MEMBERS:		ARENAL CAPITAL FUND LP

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAKELAND INDUSTRIES INC
		CENTRAL INDEX KEY:			0000798081
		STANDARD INDUSTRIAL CLASSIFICATION:	ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
		IRS NUMBER:				133115216
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-39049
		FILM NUMBER:		141127695

	BUSINESS ADDRESS:	
		STREET 1:		701-7 KOEHLER AVENUE
		CITY:			RONKONKOMA
		STATE:			NY
		ZIP:			11779
		BUSINESS PHONE:		6319819700

	MAIL ADDRESS:	
		STREET 1:		701- 7 KOEHLER AVENUE
		CITY:			RONKONKOMA
		STATE:			NY
		ZIP:			11779

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Arenal Capital Partners LP
		CENTRAL INDEX KEY:			0001580833
		IRS NUMBER:				453913253
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		P.O. BOX 692
		CITY:			FLAGTOWN
		STATE:			NJ
		ZIP:			08821
		BUSINESS PHONE:		917-922-9848

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 692
		CITY:			FLAGTOWN
		STATE:			NJ
		ZIP:			08821
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>lakeland13dam1sept14.htm
<DESCRIPTION>AMENDMENT NO. 1
<TEXT>
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<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Times New Roman,serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 11pt/18pt Times New Roman,serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 11pt/18pt Times New Roman,serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 11pt/18pt Times New Roman,serif; margin: 0; text-align: center"><B>SCHEDULE 13D</B></P>

<P STYLE="font: 11pt/18pt Times New Roman,serif; margin: 0; text-align: center"><B>Under the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 11pt/18pt Times New Roman,serif; margin: 0; text-align: center"><B>(Amendment No. 1)</B></P>

<P STYLE="font: 11pt/18pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 11pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">LAKELAND INDUSTRIES, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman,serif; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">(Name of Issuer)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 11pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">Common Stock, par value $0.01 per share</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman,serif; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">(Title of Class of Securities)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 11pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">511795106</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman,serif; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">(CUSIP Number)</FONT></TD></TR>
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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 0.5in">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 0.5in">Steven Graham</P>
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 0.5in">Arenal Capital Partners LP</P>
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 0.5in">P.O. Box 692</P>
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 0.5in">Flagtown, NJ 08821</P>
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 0.5in">917. 922.9848</P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 22.5pt"><I>with a copy to</I>:</P>
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 22.5pt">Scott H. Moss, Esq.</P>
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 22.5pt">Lowenstein Sandler LLP</P>
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 22.5pt">1251 Avenue of the Americas, 17th Floor</P>
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 22.5pt">New York, NY 10020</P>
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 22.5pt">646.414.6874</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: center; border-top: Black 0.75pt solid">(Name, Address and Telephone
        Number of Person</P>
        <P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: center">Authorized to Receive Notices and Communications)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 11pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">September 23, 2014</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">(Date of Event Which Requires Filing of this Statement)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman,serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/12pt Times New Roman,serif; margin: 0; text-align: justify">If the filing person has previously filed a statement
on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of <FONT STYLE="font-family: Playbill">&sect;&sect;</FONT>
240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [&nbsp;&nbsp;&nbsp;&nbsp;]</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify"><B>Note</B>: Schedules filed in paper format shall
include a signed original and five copies of the schedule, including all exhibits. See <FONT STYLE="font-family: Playbill">&sect;</FONT>
240.13d-7 for other parties to whom copies are to be sent.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">*The remainder of this cover page shall be filled out
for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a prior cover page.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">The information required on the remainder of this cover
page shall not be deemed to be &quot;filed&quot; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&ldquo;<U>Act</U>&rdquo;)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>


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    <TD COLSPAN="9" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">CUSIP No.&nbsp;&nbsp;511795106</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">1.&#9;Names of Reporting Persons.&nbsp;&nbsp;I.R.S. Identification Nos. of above persons (entities only):</FONT></TD></TR>
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    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Arenal Capital Partners LP </FONT></TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">2.&#9;Check the Appropriate Box if a Member of a Group (See Instructions):</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">(a)&nbsp;&nbsp;&nbsp;Not </FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">(b)&nbsp;&nbsp;&nbsp;Applicable</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="border-bottom: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">3.&#9;SEC Use Only</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">4.&#9;Source of Funds (See Instructions):&nbsp;&nbsp;OO, AF</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">5.&#9;Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e):&nbsp;&nbsp;Not Applicable</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">6.&#9;Citizenship or Place of Organization:&nbsp;&nbsp;State of Delaware</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Number of</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">7.&#9;Sole Voting Power:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 11pt">0</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Shares Beneficially</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">8.&#9;Shared Voting Power:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 11pt">335,185 (1)(2)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Owned by</FONT></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Each Reporting</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">9.&#9;Sole Dispositive Power:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 11pt">0</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Person With</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">10.&#9;Shared Dispositive Power:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 11pt">335,185 (1)(2)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">11.&#9;Aggregate Amount Beneficially Owned by Each Reporting Person:&nbsp;&nbsp;&nbsp;335,185 (1)(2)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">12.&#9;Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">13.&#9;Percent of Class Represented by Amount in Row (11):&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7% (1)(2)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">14.&#9;Type of Reporting Person (See Instructions):&nbsp;&nbsp;&nbsp;PN</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">(1) The information set forth in Items 4, 5 and 6 of
this statement on Schedule 13D is incorporated herein by reference.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">(2) As of September 29, 2014 (the &ldquo;<U>Filing
Date</U>&rdquo;), LKL Investments, LLC (the &ldquo;<U>Lender</U>&rdquo;), a Delaware limited liability company and a wholly-owned
subsidiary of Arenal Capital Fund LP, a Delaware limited partnership (the &ldquo;<U>Fund</U>&rdquo;), holds (i) a common stock
purchase warrant (the &ldquo;<U>Warrant</U>&rdquo;) to purchase up to 311,015 shares of common stock (&ldquo;<U>Common Stock</U>&rdquo;)
of Lakeland Industries, Inc. (the &ldquo;<U>Company</U>&rdquo;), subject to adjustment, and (ii) 24,170 shares of Common Stock
as a result of the exercise by the Lender of a portion of the Warrant on behalf of the Fund. Arenal Capital Partners LP, a Delaware
limited partnership (the &ldquo;<U>General Partner</U>&rdquo;), serves as the sole general partner of the Fund. Adam Kauffman,
Steven Graham and Rajinder Singh directly or indirectly manage or advise the General Partner. Mr. Singh also manages Arenal Capital
GP LLC, a Delaware limited liability company that serves as the sole general partner of the General Partner. The Fund and the General
Partner (together, the &ldquo;<U>Reporting Persons</U>&rdquo;) share the power to vote and the power to direct the disposition
of all securities of the Company owned by the Lender, including the Warrant. Thus, for the purposes of Rule 13d-3 under the Securities
Exchange Act of 1934 (the &ldquo;<U>Exchange Act</U>&rdquo;), the Reporting Persons are deemed to beneficially own 5.7% of the
Common Stock of the Company deemed issued and outstanding as of the Filing Date. This calculation is based on 5,926,696 shares
of Common Stock outstanding as of the close of business on September 29, 2014, which includes (i) 5,360,681 shares of Common Stock
outstanding as of September 10, 2014 as reported in the Company&rsquo;s Quarterly Report on Form 10-Q for the quarter that ended
July 31, 2014; (ii) the Warrant to purchase 311,015 shares of Common Stock; and (iii) 255,000 shares of Common Stock outstanding
as a result of the exercise by the Lender of a portion of the Warrant on behalf of the Fund. Thus, for the purposes of Rule 13d-3
under the Exchange Act, the Reporting Persons are deemed to beneficially own 5.7% of the Common Stock deemed issued and outstanding
as of the Filing Date.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">CUSIP No.&nbsp;&nbsp;511795106</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">1.&#9;Names of Reporting Persons.&nbsp;&nbsp;I.R.S. Identification Nos. of above persons (entities only):</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Arenal Capital Fund LP</FONT></TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">2.&#9;Check the Appropriate Box if a Member of a Group (See Instructions):</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">(a)&nbsp;&nbsp;&nbsp;Not </FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">(b)&nbsp;&nbsp;&nbsp;Applicable</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="border-bottom: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">3.&#9;SEC Use Only</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">4.&#9;Source of Funds (See Instructions):&nbsp;&nbsp;WC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">5.&#9;Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e):&nbsp;&nbsp;Not Applicable</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">6.&#9;Citizenship or Place of Organization:&nbsp;&nbsp;State of Delaware</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Number of</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">7.&#9;Sole Voting Power:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 11pt">0</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Shares Beneficially</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">8.&#9;Shared Voting Power:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 11pt">335,185 (1)(2)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Owned by</FONT></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Each Reporting</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">9.&#9;Sole Dispositive Power:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 11pt">0</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Person With</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">10.&#9;Shared Dispositive Power:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 11pt">335,185 (1)(2)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">11.&#9;Aggregate Amount Beneficially Owned by Each Reporting Person:&nbsp;&nbsp;&nbsp;335,185 (1)(2)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">12.&#9;Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">13.&#9;Percent of Class Represented by Amount in Row (11):&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7% (1)(2)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="padding-top: 6pt; padding-bottom: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">14.&#9;Type of Reporting Person (See Instructions):&nbsp;&nbsp;&nbsp;PN</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">(1) The information set forth in Items 4, 5 and 6 of
this statement on Schedule 13D is incorporated herein by reference.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">(2) As of September 29, 2014 (the &ldquo;<U>Filing
Date</U>&rdquo;), LKL Investments, LLC (the &ldquo;<U>Lender</U>&rdquo;), a Delaware limited liability company and a wholly-owned
subsidiary of Arenal Capital Fund LP, a Delaware limited partnership (the &ldquo;<U>Fund</U>&rdquo;), holds (i) a common stock
purchase warrant (the &ldquo;<U>Warrant</U>&rdquo;) to purchase up to 311,015 shares of common stock (&ldquo;<U>Common Stock</U>&rdquo;)
of Lakeland Industries, Inc. (the &ldquo;<U>Company</U>&rdquo;), subject to adjustment, and (ii) 24,170 shares of Common Stock
as a result of the exercise by the Lender of a portion of the Warrant on behalf of the Fund. Arenal Capital Partners LP, a Delaware
limited partnership (the &ldquo;<U>General Partner</U>&rdquo;), serves as the sole general partner of the Fund. Adam Kauffman,
Steven Graham and Rajinder Singh directly or indirectly manage or advise the General Partner. Mr. Singh also manages Arenal Capital
GP LLC, a Delaware limited liability company that serves as the sole general partner of the General Partner. The Fund and the General
Partner (together, the &ldquo;<U>Reporting Persons</U>&rdquo;) share the power to vote and the power to direct the disposition
of all securities of the Company owned by the Lender, including the Warrant. Thus, for the purposes of Rule 13d-3 under the Securities
Exchange Act of 1934 (the &ldquo;<U>Exchange Act</U>&rdquo;), the Reporting Persons are deemed to beneficially own 5.7% of the
Common Stock of the Company deemed issued and outstanding as of the Filing Date. This calculation is based on 5,926,696 shares
of Common Stock outstanding as of the close of business on September 29, 2014, which includes (i) 5,360,681 shares of Common Stock
outstanding as of September 10, 2014 as reported in the Company&rsquo;s Quarterly Report on Form 10-Q for the quarter that ended
July 31, 2014; (ii) the Warrant to purchase 311,015 shares of Common Stock; and (iii) 255,000 shares of Common Stock outstanding
as a result of the exercise by the Lender of a portion of the Warrant on behalf of the Fund. Thus, for the purposes of Rule 13d-3
under the Exchange Act, the Reporting Persons are deemed to beneficially own 5.7% of the Common Stock deemed issued and outstanding
as of the Filing Date.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">Item 4.&#9;<U>Purpose of Transaction</U>.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">The following paragraph in Item 4 is hereby amended
and restated as follows:</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 1in">Pursuant to the terms of an Investor
Rights Agreement dated as of June 28, 2013 between the Company and the Lender (the &ldquo;<U>Investor Rights Agreement</U>&rdquo;),
the Lender is entitled to designate one person (the &ldquo;<U>Board Representative</U>&rdquo;) for election to the Board, for so
long as the Lender and/or any of its affiliates own (beneficially or of record) (i)(A) Stockholder Securities (as defined below)
that represent (for these purposes, all Stockholder Securities convertible into, or exchangeable or exercisable for, other securities
of the Company shall be deemed to have been so converted, exchanged or exercised in full) in the aggregate at least 6% of the outstanding
Common Stock and (B) any loans, notes or other indebtedness under the Subordinated Loan Agreement or other Transaction Documents
(as defined below) in an aggregate principal amount of at least $2,000,000 or (ii) shares of Common Stock (for these purposes,
excluding securities of the Company that are convertible, exchangeable or exercisable for shares of Common Stock) that represent
in the aggregate at least 5% of the outstanding Common Stock. As of September 29, 2014 (the &ldquo;<U>Filing Date</U>&rdquo;),
the Lender has not exercised the right to designate a Board Representative.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">Item 5.&#9;<U>Interest in Securities of the Issuer</U>.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">Item 5 is hereby amended and supplemented as follows:</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 1in">As of the Filing Date, the Lender,
a wholly-owned subsidiary of the Fund, holds (i) a Warrant to purchase up to 311,015 shares of Common Stock of the Company (subject
to adjustment) and (ii) 24,170 shares of Common Stock as a result of the exercise by the Lender of a portion of the Warrant on
behalf of the Fund. The General Partner serves as the sole general partner of the Fund. Adam Kauffman, Steven Graham and Rajinder
Singh directly or indirectly manage or advise the General Partner. Mr. Singh also manages Arenal Capital GP LLC, a Delaware limited
liability company that serves as the sole general partner of the General Partner. The Fund and the General Partner (together, the
Reporting Persons) share the power to vote and the power to direct the disposition of all securities of the Company owned by the
Lender, including the Warrant. Thus, for the purposes of Rule 13d-3 under the Securities Exchange Act of 1934 (the &ldquo;<U>Exchange
Act</U>&rdquo;), the Reporting Persons are deemed to beneficially own 5.7% of the Common Stock of the Company issued and outstanding
as of the Filing Date. This calculation is based on 5,926,696 shares of Common Stock outstanding as of the close of business on
September 29, 2014, which includes (i) 5,360,681 shares of Common Stock outstanding as of September 10, 2014 as reported in the
Company&rsquo;s Quarterly Report on Form 10-Q for the quarter that ended July 31, 2014; (ii) the Warrant to purchase 311,015 shares
of Common Stock; and (iii) 255,000 shares of Common Stock outstanding as a result of the exercise by the Lender of a portion of
the Warrant on behalf of the Fund. Thus, for the purposes of Rule 13d-3 under the Exchange Act, the Reporting Persons are deemed
to beneficially own 5.7% of the Common Stock issued and outstanding as of the Filing Date.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 1in">The following table details the transactions
by the Reporting Persons, on behalf of the Fund, in Common Stock during the period commencing sixty (60) days prior to the Filing
Date. Each sale by the Reporting Persons was preceded by the exercise of the Warrant by the Lender for the number of shares of
Common Stock being sold:</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR>
    <TD STYLE="vertical-align: top; width: 10%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt; line-height: 115%">Date</FONT></TD>
    <TD STYLE="width: 19%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt; line-height: 115%">Price per Share</FONT></TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt; line-height: 115%">Type of Transaction</FONT></TD>
    <TD STYLE="width: 18%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt; line-height: 115%">Number of Shares</FONT></TD>
    <TD STYLE="vertical-align: top; width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">9/17/14</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">$7.8244<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">Open Market Sale</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">16,095</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">9/18/14</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">$7.5208<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">Open Market Sale</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">16,802</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">9/19/14</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">$7.4400</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">Open Market Sale</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">2,477</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">9/22/14</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">$7.5144<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">Open Market Sale</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">2,409</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">9/23/14</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">$7.5668<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">Open Market Sale</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">167,647</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">9/24/14</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">$7.5690<SUP>(5)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">Open Market Sale</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 11pt">25,400</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify"><U>Explanation of response:</U></P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">1. The price reported in Item 5 is a weighted average
price. These shares were bought in multiple transactions at per share prices ranging from $7.61 to $8.01, inclusive. The Reporting
Persons undertake to provide to the staff of the Securities and Exchange Commission (the &ldquo;<U>SEC</U>&rdquo;), upon request,
full information regarding the number of shares bought at each separate price within the range set forth in this footnote.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">2. The price reported in Item 5 is a weighted average
price. These shares were bought in multiple transactions at per share prices ranging from $7.48 to $7.66, inclusive. The Reporting
Persons undertake to provide to the staff of the SEC, upon request, full information regarding the number of shares bought at each
separate price within the range set forth in this footnote.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">3. The price reported in Item 5 is a weighted average
price. These shares were bought in multiple transactions at per share prices ranging from $7.50 to $7.60, inclusive. The Reporting
Persons undertake to provide to the staff of the SEC, upon request, full information regarding the number of shares bought at each
separate price within the range set forth in this footnote.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">4. The price reported in Item 5 is a weighted average
price. These shares were bought in multiple transactions at per share prices ranging from $7.50 to $7.81, inclusive. The Reporting
Persons undertake to provide to the staff of the SEC, upon request, full information regarding the number of shares bought at each
separate price within the range set forth in this footnote.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">5. The price reported in Item 5 is a weighted average
price. These shares were bought in multiple transactions at per share prices ranging from $7.55 to $7.65, inclusive. The Reporting
Persons undertake to provide to the staff of the SEC, upon request, full information regarding the number of shares bought at each
separate price within the range set forth in this footnote.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">_________________________________</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 1in">Except as set forth in this Schedule
13D, none of the persons identified in Item 2 has engaged in any transaction involving the securities of the Company during the
period commencing sixty (60) days prior to the Filing Date.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 1in">Other than the persons identified
in Item 2, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from
the sale of, the securities of the Company referred to in this Item 5.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in">Item 7.&#9;<U>Material to
Be Filed as Exhibits</U>.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><U>Exhibit</U></TD><TD STYLE="text-align: justify"><U>Exhibit Description</U></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">1.</TD><TD STYLE="text-align: justify">Joint Filing Agreement, dated as of September 29, 2014, between Arenal Capital Partners LP and
Arenal Capital Fund LP.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;&nbsp;</P>


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<P STYLE="font: 11pt/115% Times New Roman,serif; margin: 0 0 10pt">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman,serif; margin: 24pt 0 12pt; text-align: center"><U>Signature</U></P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">After reasonable inquiry and
to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">September 29, 2014</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt"><B>ARENAL CAPITAL PARTNERS LP</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 43%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">/s/ Steven Graham<U> </U></FONT></TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Steven Graham<U> </U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Authorized Signatory</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">September 29, 2014</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt"><B>ARENAL CAPITAL FUND LP</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Arenal Capital Partners LP,</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">its general partner</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">/s/ Steven Graham<U> </U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Steven Graham<U> </U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Authorized Signatory</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
</TABLE>
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<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: center"><B>Attention: Intentional misstatements or omissions
of fact constitute<BR>
Federal criminal violations (See 18 U.S.C. 1001).</B></P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt/115% Times New Roman,serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: center"><B>EXHIBIT 1</B></P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: center"><U>JOINT FILING AGREEMENT</U></P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 1in">The undersigned hereby agree that
this Amendment No. 1 to Schedule&nbsp;13D relating to the shares of common stock of Lakeland Industries, Inc. is filed jointly
on behalf of each of the undersigned pursuant to Rule 13d-1(k).</P>

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<P STYLE="font: 11pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">September 29, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt"><B>ARENAL CAPITAL PARTNERS LP</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 43%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">/s/ Steven Graham<U> </U></FONT></TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Steven Graham<U> </U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Authorized Signatory</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt"><B>ARENAL CAPITAL FUND LP</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Arenal Capital Partners LP,</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">its general partner</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">/s/ Steven Graham<U> </U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Steven Graham<U> </U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif"><FONT STYLE="font-size: 11pt">Authorized Signatory</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
</TABLE>
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