PERY Perry Ellis International Inc. (delisted)

Perry Ellis International (NASDAQ:PERY), announced today it has entered into a new licensing agreement for the U.S. with ACI International Inc. to design, manufacture and distribute men�s, women�s and children�s footwear for the Original Penguin� by Munsingwear� brand. �We are thrilled to have found the right partner for a key product category such as footwear for our Original Penguin Brand. ACI International not only has the experience but a keen understanding of the Original Penguin concept and a strong commitment to the brand,� said Oscar Feldenkreis, president and COO of Perry Ellis International. The Original Penguin brand was re-launched in 2002, to cater to a new generation of fashion conscious consumers seeking classic, vintage inspired styles. This �suburban-chic� brand appeals to independent free-spirited young professionals who value Original Penguin�s unique detailing, classic fits and individual styling. Original Penguin footwear will complement the apparel with modern vintage, suburban-chic styles that complete each fashion look, from swim to dress. Steve Jackson, chief executive officer of ACI International Inc., added, �We are incredibly excited to be working on the Original Penguin brand, and we look forward to bringing to retail fun and unique styling consistent with the overall global positioning of the Original Penguin.� ACI International announced that Dave Frazier, former VP of Sales and Marketing for Lacoste Footwear in the U.S. and ten year veteran at Ralph Lauren Footwear, will be president of the Original Penguin footwear division. The Original Penguin footwear line will launch at selected retailers in the fall of 2007, followed by a broader launch in the spring of 2008. Original Penguin footwear distribution strategy includes specialty footwear stores and department stores such as Nordstrom�s, Barney�s and Urban Outfitters. 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. The Company's collection of dress and casual shirts, golf sportswear, sweaters, dress and casual pants and shorts, jeans wear, active wear and men's and women's swimwear is available through all major levels of retail distribution. The Company, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands including Perry Ellis�, Jantzen�, Cubavera�, Savane�, Munsingwear�, Original Penguin� by Munsingwear�, AXIST�, Grand Slam�, John Henry�, Natural Issue�, Farah�, Pro Player�, Manhattan�, the Havanera Co.�, Axis�, Tricots St. Raphael�, Mondo di Marco�, Redsand�, Gotcha�, Girl Star� and MCD�. The Company enhances its roster of brands by licensing trademarks from third parties including Dockers� for outerwear, Nike� and JAG� for swimwear, and PING� and PGA TOUR� for golf apparel. Additional information on the Company is available at http://www.pery.com. About ACI International Inc. Headquartered in Los Angeles, ACI International has been a leading manufacturer, distributor and marketer of men�s, women�s and children�s footwear brands for over thirty years. ACI International owns or licenses the diverse licenses, a diversified portfolio of fashion brands that touch every retail distribution. ACI International is the owner or licensee of LA Gear, Ocean Pacific, Jimmy Buffet�s Margaritaville, Shaquille O�Neal�s Shaq/Dunkman, C9 by Champion, as well as the children�s footwear licensee for well known and respected entertainment and toy companies such as Warner Bros., Nickelodeon, Dreamworks and Mattel. Additional information on the company is available at http://www.aciint.com. About Original Penguin by Munsingwear� The Original Penguin by Munsingwear� brand is designed, distributed and licensed in a broad line of high quality men's and women's apparel and accessories, including women�s and men�s sportswear, dress shirts, tailored suitings, denim, and swimwear to all major levels of retail distribution. ORIGINAL PENGUIN� offers an accessory collection through licensee partnerships with Seiko, BaumVision, Superba, and Concept One. Additional information on the division is available at http://www.originalpenguin.com For further information on Original Penguin by Munsingwear(R): David Bedwell, VP of Branding and Creative 323-842-3813 / David.Bedwell@pery.com Safe Harbor Statement We caution readers that the 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. Forward-looking statements are based on current expectations rather than historical facts and they are indicated by words or phrases such as "anticipate," "could," "may," "might," "potential," "predict," "should," "estimate," "expect," "project," "believe," "plan," "envision," "continue," "intend," "target," "contemplate," or "will" and similar words or phrases or comparable terminology. We have based such forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, many of which are beyond our control. These factors include: general economic conditions, a significant decrease in business from or loss of any of our major customers or programs, anticipated and unanticipated trends and conditions in our industry, including the impact of recent or future retail and wholesale consolidation, the effectiveness of our planned advertising, marketing and promotional campaigns, our ability to contain costs, disruptions in the supply chain, our future capital needs and our ability to obtain financing, our ability to integrate acquired businesses, trademarks, tradenames and licenses, our ability to predict consumer preferences and changes in fashion trends and consumer acceptance of both new designs and newly introduced products, the termination or non-renewal of any material license agreements to which we are a party, changes in the costs of raw materials, labor and advertising, our ability to carry out growth strategies including expansion in international and direct to consumer retail markets, the level of consumer spending for apparel and other merchandise, our ability to compete, exposure to foreign currency risk and interest rate risk, possible disruption in commercial activities due to terrorist activity and armed conflict, and other factors set forth in Perry Ellis International's filings with the Securities and Exchange Commission. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in Perry Ellis' filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are valid only as of the date they were made. We undertake no obligation to update or revise any forward-looking statements to reflect new information or the occurrence of unanticipated events or otherwise.