Peerless Licenses Perry Ellis America Brand for Young Men's Tailored Clothing

Business Wire, Sept 21, 2000

Business Editors

MIAMI and NEW YORK--(BUSINESS WIRE)--Sept. 21, 2000

Perry Ellis International Inc. (Nasdaq:PERY) and Peerless Clothing Inc. announced today the appointment of Peerless Clothing Inc. as the United States licensee for the Perry Ellis America brand of young men's tailored clothing.

The collection will launch in the Fall/Winter 2001 season coinciding with the much expected relaunch of Perry Ellis America Jeanswear.

"There is a definite trend among young men to dress up for their leisure activities. The standard nine-to-five work attire does not suit this need, they are demanding a totally different type of tailored suit separates and 6.5" to 8" drop in clothing with a younger, hipper, easier, forward fashion look. Peerless has a real grip in this emerging segment of the market, they are the ideal partner for us" said Allan Zwerner, President of Licensing Perry Ellis International.

Alvin Segal, Chairman of Peerless Clothing Inc. added "This type of young suit is the fastest growing segment in the tailored clothing market. We were looking for the appropriate brand to enter this segment from a position of strength and were extremely impressed with the renewed vitality of the Perry Ellis America concept".

The Perry Ellis America brand targets a young consumer seeking to evolve his personal style with products that are forward thinking, distinctive, easy, innovative and wearable. The Perry Ellis America collection encompasses full offerings of Activewear, Swimwear, athletic shoes, eyewear, small leather goods, fragrances and, starting in 2001, jeanswear, accessories and tailored clothing.

Perry Ellis International is a publicly traded company (Nasdaq:PERY), which markets men's, women's and children's products in 39 different categories under the Perry Ellis(R) Perry Ellis Portfolio(R) and Perry Ellis America(R) Trademarks. Perry Ellis products are available in the United States and in more than 26 countries with worldwide retail sales of almost $1 billion. Supreme International, a division of PEI manufactures, markets and distributes other trademarks both domestically and internationally.

Peerless Clothing Inc. is North America's largest manufacturer of men's fine tailored clothing, with a significant presence in the United States. The Peerless families of product lines include men's tailored suits, sport jackets, blazers, tuxedos, trousers, vests and shorts.

Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The actual results of PEI could differ materially from those expressed or indicated by forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, changes in fashion trends, risks relating to the retail industry, use of contract manufacturing and foreign sourcing, import restrictions, competition, seasonality and other factors. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission