Warnaco Accelerates Launch of Calvin Klein Women's Swimwear in North America NEW YORK, May 25 /PRNewswire-FirstCall/ -- The Warnaco Group, Inc. (NASDAQ:WRNC) today announced it entered into agreements with Swimwear Anywhere, Inc. (the former licensee of Calvin Klein women's swimwear in North America) and Calvin Klein, Inc., a wholly owned subsidiary of Phillips-Van Heusen Corporation [NYSE: PVH], to accelerate the Company's launch of Calvin Klein women's swimwear in North America. Under its existing agreement with Calvin Klein, Inc., Warnaco was not expected to market this collection in North America until Cruise 2008. Warnaco will present its initial collection at the Miami International Swim Show in July 2005, for delivery during the upcoming Cruise 2006 season. Roger Williams, President of Warnaco's Swimwear Group, said, "We look forward to our introduction of Calvin Klein women's swimwear in North America. We now hold the exclusive worldwide rights to distribute Calvin Klein women's swimwear. Adding the signature Calvin Klein brand to the Swimwear Group's industry leading portfolio of brands will further increase the scale and broaden the reach of this operating segment." "We are pleased with the swift acceleration of the launch of the women's global swimwear license with Warnaco. We anticipate important potential synergies to be created by consolidating this business within Warnaco's Swimwear Group," said Tom Murry, President and Chief Operating Officer, Calvin Klein, Inc. About The Warnaco Group, Inc. 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 Collection(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, men's accessories, men's, women's, junior women's and children's jeans and women's and juniors swimwear. About Calvin Klein, Inc. Calvin Klein, Inc. is one of the leading fashion design and marketing studios in the world. It designs and markets women's and men's designer collection apparel and a range of other products that are manufactured and marketed through an extensive network of licensing agreements and other arrangements worldwide. Brands/lifestyles include Calvin Klein Collection, ck Calvin Klein, Calvin Klein, Calvin Klein Jeans and Choice Calvin Klein. Product lines under the various Calvin Klein brands include apparel, accessories, shoes, underwear, sleepwear, hosiery, socks, swimwear, eyewear, watches, jewelry, coats, and fragrances, as well as products for the home. About Phillips Van-Heusen Corporation. Phillips-Van Heusen Corporation is one of the world's largest apparel companies. It owns and markets the Calvin Klein brand worldwide. It is the world's largest shirt company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, IZOD, Arrow, and G.H. Bass & Co., and its licensed brands Geoffrey Beene, Kenneth Cole New York, Reaction Kenneth Cole, BCBG Max Azria, BCBG Attitude, MICHAEL Michael Kors, Sean Jean, Chaps, and Donald J. Trump Signature. FORWARD-LOOKING STATEMENTS This press release, as well as certain other written, electronic and oral disclosure made by Warnaco 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. 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 Warnaco'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; and the sufficiency of cash to fund operations, including capital expenditures. In addition, Warnaco encourages investors to read the discussion of the Company's critical accounting policies under "Management's Discussion and Analysis of Financial Condition and Results of Operations -- Discussion of Critical Accounting Policies" contained in the Company's Annual Report on Form 10-K for the year ended January 1, 2005, as such discussion may be modified or supplemented by subsequent reports that the Company files with the SEC. The discussion in this press release is not exhaustive but is designed to highlight important factors that may affect actual results. Forward-looking statements speak only as of the date on which they are made, and, except for the Company's ongoing obligation under the U.S. federal securities laws, the Company disclaims any intention or obligation to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise. DATASOURCE: The Warnaco Group, Inc. CONTACT: Investors - Deborah Abraham, Director, Investor Relations of The Warnaco Group, Inc., +1-212-287-8289 Web site: http://www.warnaco.com/

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