Arden (ARDNA) Enters New $25M Unsecured Facility

Arden Group, Inc. (Nasdaq: ARDNA) entered into a credit agreement with Wells Fargo Bank, National Association (Wells), dated November 1, 2011, which provides the Company with an unsecured revolving credit facility (the Facility) with a standby letter of credit subfacility. The Facility provides for borrowings and/or letters of credit up to an aggregate principal amount at any one time of $25,000,000 and replaces the Company’s current letter of credit agreement with Wells. The Facility will be used for working capital and general corporate purposes and expires on June 1, 2014.

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