                                                                   EXHIBIT 99.01

                                                                            NEWS

                                               Company Contact: Anthony Christon
                                                         Chief Financial Officer
                                                         Jaclyn, Inc.
                                                         (201) 868-9400

                        JACLYN, INC. ANNOUNCES GRANT OF
              OPTION FOR THE SALE OF OFFICE AND WAREHOUSE FACILITY

                                                           FOR IMMEDIATE RELEASE

West New York, NJ, September 7, 2005....................Jaclyn,  Inc. (AMEX:JLN)
today  announced that it has granted to a third party an option  relating to the
sale of the Company's executive offices and warehouse  facility,  as well as two
adjacent lots,  located in West New York, New Jersey.  As previously  announced,
Jaclyn currently uses approximately one-half of the 140,000 square foot West New
York facility (the remainder having been leased to third parties),  and has been
looking at  opportunities  to move to a space more  suitable for its present and
future needs.

The proposed purchase price is $10,000,000,  the substantial portion of which is
payable at closing.  The option contract provides the optionee an initial 90-day
diligence  period,  during which time the optionee has the absolute right not to
proceed with the proposed transaction,  as well as up to an additional 11 months
to obtain approval from all applicable  governmental  authorities for the use of
the property as residential housing.  Under certain  circumstances,  the Company
also has the right to decide not to proceed with the proposed  transaction.  The
proposed   transaction  is  also  subject  to  a  number  of  contingencies  and
conditions, including the governmental approvals mentioned above, the optionee's
receipt of a mortgage  commitment,  the completion of environmental  testing and
compliance, and other contingencies and conditions.

The option  contract  also permits  Jaclyn and its tenants to remain in the West
New York  facility  for up to five  months  after any  closing.  As Jaclyn  also
previously  announced,  it  anticipates  that  if the  proposed  transaction  is
consummated,  it would  move to  another  site in the  vicinity  of its  present
location.

Jaclyn noted that it has entered into an option  contract  only, and there is no
assurance that a sale of the property will be concluded.

NOTE: This press release may contain  forward-looking  statements that are being
made pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The Company's  actual  performance and results may vary as a
result of a number of risks,  uncertainties and other factors, both foreseen and
unforeseen,  including general economic and business conditions,  competition in
the  accessories  and apparel  markets,  continuing  favorable  sales  patterns,
pricing and consumer buying trends.

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Jaclyn,  Inc.  is a designer,  manufacturer  and  marketer  of apparel,  women's
sleepwear,  infant's  and  childrens'  apparel,  handbags,  premiums and related
accessories. Our web site is at www.jaclyninc.com.
