Steve Madden Plans Two New Retail Store Openings in Florida at Palm Beach Gardens Mall and at Shops at Sunset

Business Wire, June 1, 1998

LONG ISLAND CITY, N.Y.--(BUSINESS WIRE)--June 1, 1998--Steven Madden Retail Inc., a division of Steven Madden Ltd., (Nasdaq:SHOO), a leading designer, wholesaler and retailer of fashion footwear for women, Monday announced two new Steve Madden Stores, one in Palm Beach Gardens Mall in Palm Beach Gardens, Fla., which will open its doors in July 1998 and another in Shops at Sunset in Coral Gables, Fla., which will open its doors in October 1998.

These stores represent the 23rd and 24th Steve Madden retail stores nationwide.

"We are very excited to expand our presence in Florida. With the addition of these new sites there will be five Steve Madden retail stores in Florida. These two stores are perfect locations for the Steve Madden brand, which appeals to young women ages 16-25," says Steve Madden, president and chief executive officer.

The new 1,500 square foot store in the Palm Beach Gardens Mall, reinforces the signature Steve Madden retail environment. Extensive promotional activities are planned in conjunction with the store opening.

The Steve Madden store at Shops at Sunset, a new entertainment concept mall, is 1,300 square feet, features a new design and reinforces the signature Steve Madden retail environment. Extensive promotional activities are planned in conjunction with the store opening.

Steven Madden Ltd. designs and markets fashion footwear for women. The shoes are sold through Steve Madden Retail Stores, department stores, apparel and footwear specialty stores and on-line at www.stevemadden.com. The company now has seven licenses including ready-to-wear and jeans, outerwear, intimate apparel, eyewear, legwear, handbags, jewelry, and owns and operates a retail store under its David Aaron brand, and is the licensee of l.e.i. shoes. -0-

Statements in this news release that are not statements of historical or current fact constitute "forward-looking-statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates" or "plans" to be uncertain and forward-looking. The forward looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements, filed with the Securities and Exchange Commission.

    CONTACT:  Steven Madden Ltd., Long Island City, N.Y.
               Steve Madden or Rhonda Brown, 718/446-1800
                    or
               Kehoe, White, Savage & Co. Inc.
               James K. White, 562/437-0655