PERY Perry Ellis International Inc. (delisted)

Perry Ellis International, Inc. (NASDAQ:PERY) today announced that the company completed the acquisition of primarily all of the worldwide intellectual property of the leading California lifestyle company Gotcha International, including the Gotcha(R), GirlStar(R), MCD(R) and Fishman logo(R) trademarks and the intellectual property license agreements for a purchase price of $12 million. "Our action sports brands division promises to be a growth vehicle for Perry Ellis International," said division President Seth Ellison. "Our powerful portfolio diversifies our product base, attracts new customers, and strengthens our relationships with existing customers." Ellison continued: "These action sports brands have a heritage that dates back to the mid 80's. We are relaunching these brands for Spring 2007 delivery with an attitude that recaptures the original spirit and lifestyle that resonated with '80's teens. This West Coast inspiration will be equally powerful today. Each of these brands has moved beyond the surf market, becoming true lifestyle brands with a potent fashion edge." The Gotcha(R) brand will be marketed as an accessible California lifestyle brand, widely distributed to mid-tier and sporting goods accounts. The company has hired a new designer to create the nucleus of the young men's, boy's and junior swim collections out of its youth lifestyle headquarters in Irvine, Calif. The company is also building a strong portfolio of licensees, selected for their expertise in specific categories. GirlStar(R) will be distributed to better department stores, sporting goods and specialty accounts. The brand will be relaunched internally in the junior swimwear range, while licensee candidates are being interviewed for complimentary junior product lines. MCD(R) will be relaunched focused on the action sports specialty market. The Spring 2007 program will target the hardcore surf/skate consumer. "When originally created, this brand was very special because it was so focused," Ellison explained. "It filled an important niche when many of the popular brands moved on to the burgeoning mainstream surf market. That same niche exists today." About Perry Ellis International Perry Ellis International, Inc. is a leading designer, distributor and licensor of a broad line of high quality men's and women's apparel, accessories, and fragrances, including dress and casual shirts, golf sportswear, sweaters, dress and casual pants and shorts, jeans wear, active wear and men's and women's swimwear to all major levels of retail distribution. The company, through its wholly owned subsidiaries, owns a portfolio of highly recognized brands including Perry Ellis(R), Jantzen(R), Cubavera(R), Munsingwear(R), Savane(R), Original Penguin(R), Grand Slam(R), Natural Issue(R), Pro Player(R), the Havanera Co.(R), Axis(R), Tricots St. Raphael(R), Gotcha(R), Girl Star(R) and MCD(R). The company also licenses trademarks from third parties including Nike(R) for swimwear, and PING(R) and PGA TOUR(R) for golf apparel. Additional information on the company is available at http://www.pery.com.