Phillips-Van Heusen Corporation and Calvin Klein Sign License Agreement

Business Wire, August 21, 2002

Business Editors

NEW YORK--(BUSINESS WIRE)--Aug. 21, 2002

Calvin Klein, Inc. and Phillips-Van Heusen Corporation (NYSE:PVH) today announced that they have entered into a strategic licensing arrangement for the manufacture and distribution of dress shirts in department and specialty stores in the United States, Canada and Mexico under the brand name cK Calvin Klein.

Dress shirts under this license will be available at retail beginning with the Fall 2002 season.

"We are truly excited to enter into this partnership with the Calvin Klein organization," said Mark Weber, President and COO of Phillips-Van Heusen Corporation. "Calvin Klein is the world's most recognized designer and one of the most powerful brand names in the menswear market. From a business standpoint, this license enables us to capitalize on Calvin Klein's outstanding marketing skills, design reputation and premium retail distribution. We look forward to this dynamic new relationship."

Tom Murry, President and COO, of Calvin Klein, Inc. stated: "We are very pleased to align ourselves with the preeminent dress shirt manufacturer and marketer. Their skills in the men's apparel arena are a perfect complement to our strong brand recognition."

Calvin Klein, Inc. is one of the leading fashion and design companies in the world and a globally recognized brand name. The company's product lines included the Calvin Klein Collection, cK and cK Calvin Klein Jeans. Products designed under these lifestyles includes apparel, accessories, shoes, underwear, sleepwear, hosiery, socks, swimwear, eyewear, sunwear, watches, coats, and fragrance, as well as products for the home.

Phillips-Van Heusen Corporation is one of the leading apparel and footwear companies in the world. Its roster of owned and licensed nationally recognized brands includes Van Heusen, Izod, G.H. Bass & Co., Geoffrey Beene, DKNY, Arrow, Kenneth Cole New York, Reaction by Kenneth Cole and Aigner.