Perry Ellis in the final stages of negotiating a new fragrance licensing agreement

George Feldenkreis, Chairman and Chief Executive Officer of Perry Ellis, commented: “I am pleased to announce that we are working closely with several parties to finalize a new licensing agreement for our fragrance business and the sale of related assets acquired from Parlux Fragrances Inc. We expect these new agreements will enable Perry Ellis International to recoup significantly all of the invested capital utilized for the purchase of assets from Parlux Fragrances Inc., and also to generate royalty income in line with industry standards.” Mr. Feldenkreis also noted that, “Although we cannot further discuss details until agreements are signed, we anticipate these transactions will be accretive for fiscal 2008 and beyond.”

As previously reported, Perry Ellis recently acquired all fragrance rights from Parlux.

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