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Orange 21 Files for Extension of 10-K

CARLSBAD, Calif.--(BUSINESS WIRE)--March 31, 2006--Orange 21 Inc. (NASDAQ:ORNG), a leading developer of premium eyewear products for the action sport and youth lifestyle markets, today announced that it will file an extension notification with the Securities and Exchange Commission (SEC) for its Annual Report on Form 10-K until April 15, 2006. The Company announced earlier today that it had recently completed a contract with an Australian distributor. The combination of the management resources dedicated to this effort, the financial impact from the Australian transition, as well as the added resources necessary to audit the recently acquired manufacturer, LEM S.r.l. and meeting its year-end audit requirements has necessitated this delay. The Company will file for this extension to allow time to complete the work required to finalize the Company's Annual Report on Form 10-K.

The Company will release its fourth quarter 2005 earnings and hold its conference call concurrent with the filing of its Form 10-K in mid-April, and specify the exact date next week. The Company expects to report fourth quarter results that are consistent with the preliminary estimates outlined in its February 21, 2006 press release.

About Orange 21 Inc.

Orange 21 is a leading developer of premium eyewear products for the action sport and youth lifestyle markets. Orange 21's primary brand, Spy Optic(TM), manufactures sunglasses and goggles targeted towards the action sports and youth lifestyle markets.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements and forecasts about Orange 21 and its business, such as management's estimates of net sales and profitability for 2005 and 2006. Because forecasts are inherently estimates that cannot be made with precision, the Company's performance may at times differ from its estimates and targets.

Statements in this press release regarding the timing of the filing of the 10K and the completion of the audit, as well as the financial guidance are forward-looking statements. All forward-looking statements in this press release reflect Orange 21's current analysis of existing trends and information and represent Orange 21's judgment only as of the date of this press release. Actual results may differ from current expectations based on a number of factors affecting Orange 21's business, including but not limited to, adjustments which may be necessary upon completion of the final audit by its outside auditors; and other factors described in the Company's filings with the Securities and Exchange Commission, including its most recent quarterly report on Form 10-Q. Therefore, the reader is cautioned not to rely on these forward-looking statements. Orange 21 disclaims any intent or obligation to update these forward-looking statements.

CONTACT: Orange 21 Inc.
Michael Brower, 760-804-8420
or
Investor Relations:
Integrated Corporate Relations
Andrew Greenebaum or Allyson Pooley, 310-395-2215
agreenebaum@icrinc.com
apooley@icrinc.com

SOURCE: Orange 21 Inc.