''NBA BEACH'' to Hit Stores and Shores in 2006 as Op and NBA Enter into New Apparel Deal

Business Wire, Feb 27, 2006

IRVINE, Calif. -- Ocean Pacific (Op) announced today a partnership with NBA that will allow NBA fans to enjoy the sun and sand in style with the new "NBA Beach" collection.

The three-year deal provides for the design, manufacture, sale and distribution by Op of "NBA Beach" -- a new collection of team logo swim and beachwear for young men, juniors and kids -- to include swimwear, cover-ups, coordinating t-shirts and related accessories.

This is the first co-branded strategic relationship of this kind for Op and further extends the company's reach as the dominant West Coast lifestyle brand.

"This is a strategic evolution in the course of our business growth objectives and in terms of further expanding our brand relevance, to bring the beach lifestyle to NBA fans nationwide," says Andrew Lelchuk, Op senior vice president.

Distribution of the beach-inspired line is slated for better specialty and sporting goods retail in the United States and Canada, and through the world's only NBA Store on Fifth Avenue in New York City, NBAStore.com, and on-site at team venues.

"We're very excited to work with Op, a brand synonymous with West Coast fashion," says Sal LaRocca, NBA senior vice president, global merchandising group. "It's a unique opportunity to bring a complementary fashion component to our business, executed by experts in the category."

ABOUT OP

Founded more than three decades ago, Ocean Pacific (Op) was the first surfboard manufacturer to offer a full range of products for surfers both in and out of the water. Today, through sponsorship of world-class sporting events, athletes, artists and musicians, and manufacture of goods ranging from apparel and footwear to accessories, wetsuits and skateboards, Op, a division of The Warnaco Group, Inc. (NASDAQ:WRNC), caters to an ever-growing worldwide youth culture by remaining true to its mission: to create quality products with authenticity and style.

ABOUT NBA

More than 200 licensees manufacture and promote NBA products, which are sold in more than 100,000 retail stores in 100 countries on six continents. The NBA also owns and operates the world's only NBA Store on Fifth Avenue in New York City and NBAStore.com. The NBA Store receives over 1,000,000 visitors annually and features multimedia attractions, a fully operational broadcast booth and an official half-court used for special events, and regularly-scheduled appearances by NBA and WNBA players, legends and celebrities. NBAStore.com receives over 20,000,000 visitors each year and offers three international stores online in Chinese, Japanese, and Spanish.

ABOUT WARNACO

The Warnaco Group, Inc., headquartered in New York, is a leading apparel company engaged in the business of designing, marketing and selling intimate apparel, menswear, jeanswear, swimwear, men's and women's sportswear and accessories under such owned and licensed brands as Warner's(R), Olga(R), Lejaby(R), Body Nancy Ganz(TM), Speedo(R), Anne Cole(R), Op(R), Ocean Pacific(R), Cole of California(R) and Catalina(R) as well as Chaps(R) sportswear and denim, J. Lo by Jennifer Lopez(R) lingerie, Nautica(R) swimwear, Michael Kors(R) swimwear and Calvin Klein(R) men's and women's underwear and sportswear, men's, women's, junior women's and children's jeans and women's and juniors' swimwear.

FORWARD-LOOKING STATEMENTS

This press release, as well as certain other written, electronic and oral disclosure made by the Company from time to time, contains "forward-looking statements" within the meaning of Rule 3b-6 under the Securities Exchange Act of 1934, as amended, Rule 175 under the Securities Act of 1933, as amended, and relevant legal decisions. The forward-looking statements involve risks and uncertainties and reflect, when made, the Company's estimates, objectives, projections, forecasts, plans, strategies, beliefs, intentions, opportunities and expectations, both with respect to its existing businesses and the businesses it has agreed to acquire. Actual results may differ materially from anticipated results or expectations and investors are cautioned not to place undue reliance on any forward-looking statements. Statements other than statements of historical fact are forward-looking statements. These forward-looking statements may be identified by, among other things, the use of forward-looking language, such as the words "believe," "anticipate," "estimate," "expect," "intend," "may," "project," "scheduled to," "seek," "should," "will be," "will continue," "will likely result," or the negative of those terms, or other similar words and phrases or by discussions of intentions or strategies.

The following factors, among others and in addition to those described in the Company's reports filed with the SEC (including, without limitation, those described under the heading "Statement Regarding Forward-Looking Disclosure," as it may be modified or supplemented from time to time, in such reports), could cause the Company's actual results to differ materially from those expressed in any forward-looking statements made by it: economic conditions that affect the apparel industry; the Company's failure to anticipate, identify or promptly react to changing trends, styles, or brand preferences; further declines in prices in the apparel industry; declining sales resulting from increased competition in the Company's markets; increases in the prices of raw materials; events which result in difficulty in procuring or producing the Company's products on a cost-effective basis; the effect of laws and regulations, including those relating to labor, workplace and the environment; changing international trade regulation, including as it relates to the imposition or elimination of quotas on imports of textiles and apparel; the Company's ability to protect its intellectual property or the costs incurred by the Company related thereto; the Company's dependence on a limited number of customers; the Company's dependence on the reputation of its brand names; the Company's exposure to conditions in overseas markets in connection with the Company's foreign operations and the sourcing of products from foreign third-party vendors; the Company's foreign currency exposure; unanticipated internal control deficiencies or weaknesses or ineffective disclosure controls and procedures; the sufficiency of cash to fund operations, including capital expenditures; the limitations on purchases under the Company's share repurchase program contained in the Company's debt instruments, the number of shares that the Company purchases under such program and the prices paid for such shares; the failure of the businesses the Company acquired to generate expected levels of revenues; the Company failing to successfully integrate such businesses with its existing businesses, and as a result not achieving all or a substantial portion of the anticipated benefits of the acquisition; and such businesses being adversely affected by one or more of the factors relating to the apparel industry described above and thereby failing to achieve anticipated revenues and earnings growth.