Business Editors

NEW YORK--(BUSINESS WIRE)--Aug. 20, 2003--Alloy, Inc. (Nasdaq: ALOY), a media, direct marketing and marketing services company targeting Generation Y, intends to release its fiscal second quarter results announcement for the period ending July 31, 2003 before the market opens on Thursday, August 28, 2003. In conjunction with this announcement, Alloy, Inc. cordially invites you to listen to a conference call conducted by senior management, which will be broadcast live over the Internet. -0-

                 The live webcast will take place on:
                       Thursday, August 28, 2003
                            9:00 A.M. (EDT)
                         http://www.alloy.com
                   (click the "Investor Info" link)

                       Speaking from management:

                     Matt Diamond, Chairman & CEO
                 Jim Johnson, Chief Operating Officer
                 Sam Gradess, Chief Financial Officer

Participants may also listen to the quarterly conference call replay by logging onto www.alloy.com, and clicking on "INVESTOR INFO". The archived webcast will be accessible from Thursday, August 28th, at approximately 12:00 p.m. (EDT) until Friday, November 28th, at 11:59 p.m. (EDT).

    CONTACT: PR21, Inc. 
             AJ Goodman,