Expands Presence in Emerging Asian Markets

NEW YORK, June 23 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc. (NYSE: JNY) (Jones) today announced it has acquired a minority interest in GRI Group Limited (GRI), a leading international accessories and apparel brand management and retail-distribution network.

Jones distributes its products through international partners in over 60 countries with over 1,000 retail locations. GRI is the exclusive licensee of several of Jones' brands in Asia, including Nine West, Anne Klein New York, AK Anne Klein, Easy Spirit, Enzo Angiolini and Joan and David. A Jones representative has joined the Board of GRI. Additional terms of the transaction were not disclosed.

Wesley R. Card, Jones Apparel Group President and Chief Executive Officer, said, GRI Group has been instrumental in establishing our brands abroad and we look forward to building on our successful business relationship and enhancing our international strategy through this investment. Industry reports show that rising income and favorable economic policies are supporting robust consumption growth in China. The Asian consumer has responded positively to our footwear and accessories brands, and we are eager to grow our apparel brands in the region in a more meaningful way. We see opportunities to significantly increase our retail footprint in emerging markets over the next several years.

Jeffrey Fang, GRI Group Chief Executive Officer, said, Jones has been an excellent business partner over the last fifteen years and we are excited to expand our relationship as we embark on the next phase in our history. We believe there continues to be an opportunity for growth and brand penetration throughout Asia. We are confident that by leveraging our retail and brand management expertise, we will expand the reach of our partner brands throughout Asia.

About Jones Apparel Group, Inc.

Jones Apparel Group, Inc. (http://www.jny.com) is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories. The Company also markets directly to consumers through its chain of specialty retail and value-based stores. The Company's nationally recognized brands include Jones New York, Nine West, Anne Klein, Gloria Vanderbilt, Kasper, Bandolino, Easy Spirit, Evan-Picone, l.e.i., Energie, Enzo Angiolini, Joan & David, Mootsies Tootsies, Sam & Libby, Napier, Judith Jack, Albert Nipon and Le Suit. The Company also markets costume jewelry under the Givenchy brand licensed from Givenchy Corporation and footwear under the Dockers Women brand licensed from Levi Strauss & Co. Each brand is differentiated by its own distinctive styling, pricing strategy, distribution channel and target consumer. The Company contracts for the manufacture of its products through a worldwide network of quality manufacturers. The Company has capitalized on its nationally known brand names by entering into various licenses for several of its trademarks, including Jones New York, Evan-Picone, Anne Klein New York, Nine West, Gloria Vanderbilt and l.e.i., with select manufacturers of women's and men's products which the Company does not manufacture. For more than 30 years, the Company has built a reputation for excellence in product quality and value, and in operational execution.

About GRI Group Limited

GRI Group (http://www.griretail.com), a privately held leading international brand management and retail-distribution group that operates over 600 points of sales in 12 Asian countries(1), is the exclusive licensee of several of Jones' brands in Asia, including Nine West, Anne Klein New York, AK Anne Klein, Easy Spirit, Enzo Angiolini and Joan and David. In addition to these Jones brands, GRI Group also distributes a series of well-known ladies apparel, shoes and accessory brands such as Pringle of Scotland, EQ:IQ, Francesco Biasia, Steve Madden, Lucky Brand Jeans, IZOD and others. GRI Group was founded by Jeffrey Fang and Christine Fang with investments from leading global financial institutions including Goldman Sachs and GIC of Singapore.

(1) including its franchisees

Forward Looking Statements

Certain statements contained herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding the Company's expected financial position, business and financing plans are forward-looking statements. The words believes, expect, plans, intends, anticipates and similar expressions identify forward-looking statements. Forward-looking statements also include representations of the Company's expectations or beliefs concerning future events that involve risks and uncertainties, including:

-- those associated with the effect of national and regional economic conditions;

-- lowered levels of consumer spending resulting from a general economic downturn or lower levels of consumer confidence;

-- the performance of the Company's products within the prevailing retail environment;

-- customer acceptance of both new designs and newly-introduced product lines;

-- the Company's reliance on a few department store groups for large portions of the Company's business;

-- consolidation of the Company's retail customers;

-- financial difficulties encountered by customers;

-- the effects of vigorous competition in the markets in which the Company operates;

-- the Company's ability to attract and retain qualified executives and other key personnel;

-- the Company's reliance on independent foreign manufacturers;

-- changes in the costs of raw materials, labor, advertising and transportation;

-- the general inability to obtain higher wholesale prices for the Company's products that the Company has experienced for many years;

-- the uncertainties of sourcing associated with an environment in which general quota has expired on apparel products (while China has agreed to safeguard quota on certain classes of apparel products through 2008, political pressure will likely continue for restraint on importation of apparel);

-- the Company's ability to successfully implement new operational and financial computer systems; and

-- the Company's ability to secure and protect trademarks and other intellectual property rights.

A further description of these risks and uncertainties and other important factors that could cause actual results to differ materially from the Company's expectations can be found in the Company's Annual Report on Form 10- K for the year ended December 31, 2007, including, but not limited to, the Statement Regarding Forward-Looking Disclosure and Item 1A-Risk Factors therein, and in the Company's other filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such expectations may prove to be incorrect. The Company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

For Jones Apparel Group
Investor Contacts:
John T. McClain,
CFO, Jones Apparel Group
212-642-3860

Media Contacts:
Joele Frank and Sharon Stern
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

SOURCE Jones Apparel Group, Inc.

CONTACT: Investor Contacts, John T. McClain, CFO, Jones Apparel Group,
+1-212-642-3860; or Media Contacts, Joele Frank and Sharon Stern, both of
Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449 /
/Web site: http://www.jny.com
http://www.griretail.com /
(JNY)