NEW YORK, June 13 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc. (NYSE: JNY) today announced the signing of a letter of intent to enter into a licensing agreement with a subsidiary of Esprit Holdings Limited (SEHK:330; LSE:EPT LI) to manufacture and distribute women's and young women's footwear, luggage, handbags and small leather goods. These ESPRIT, ESPRIT SPORT, ESPRIT DE CORP, and EDC by ESPRIT branded products will be distributed exclusively by the Nine West Group Division to department stores, retail specialty stores and other direct to consumer venues throughout the United States and Puerto Rico. The licensing agreement calls for an initial term of five years with a renewal option of an additional five years should certain conditions be met.

Rhonda Brown, President and CEO of Nine West Group, stated, "The ESPRIT name is one of the most widely-recognizable brands among consumers today. It is a perfect fit for us and compliments our existing brand portfolio while allowing us to further leverage our infrastructure." Ms. Brown went on to say, "We intend to launch the business during the August footwear market in Las Vegas."

Heinz Krogner, Executive Director of Esprit Holdings Limited commented, "We are very excited to have joined forces with Nine West Group, a highly successful U.S. designer and marketer of women's shoes and accessories, to establish our first line of U.S. licensed products since our acquisition of the U.S. trademarks."

Commenting on this announcement, Peter Boneparth, President and CEO of Jones Apparel Group, Inc., said, "The addition of this well-known brand to our portfolio and the development of product within our established core competencies of footwear and handbags is commensurate with our stated growth strategy. We are very excited with the long-term potential of this licensing arrangement."

Jones Apparel Group, Inc. (www.jny.com), a Fortune 500 Company, is a leading designer and marketer of branded apparel, footwear and accessories. The Company's nationally recognized brands include: Jones New York; Lauren by Ralph Lauren, Ralph by Ralph Lauren, and Polo Jeans Company, which are licensed from Polo Ralph Lauren Corporation; Evan-Picone, Rena Rowan, Norton McNaughton, Gloria Vanderbilt, Erika, Energie, Currants, Jamie Scott, Todd Oldham, Nine West, Easy Spirit, Enzo Angiolini, Bandolino, Napier and Judith Jack. The Company also markets costume jewelry under the Tommy Hilfiger brand licensed from Tommy Hilfiger Corporation and the Givenchy brand licensed from Givenchy Corporation. Celebrating more than 30 years of service, the Company has built a reputation for excellence in product quality and value, and in operational execution.

Esprit Holdings Limited (www.espritholdings.com) is a constituent stock of the MSCI Hong Kong Index, and its subsidiaries are engaged in the retail and wholesale distribution of quality lifestyle products under its globally recognized ESPRIT brand and of cosmetic products under its RED EARTH brand. The Group controls retail space of over 3 million square feet in more than 40 countries worldwide. It operates approximately 500 directly managed retail outlets and has over 2,000 franchised shops.

Certain statements herein are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements represent the Company's expectations or beliefs concerning future events that involve risks and uncertainties, including the strength of the economy and the overall level of consumer spending, the performance of the Company's products within the prevailing retail environment, and other factors which are set forth in the Company's 2001 Form 10-K and in all filings with the SEC made by the Company subsequent to the filing of the Form 10-K. The Company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

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SOURCE Jones Apparel Group, Inc.
Web site: http: //www.jny.com
CONTACT: Wesley R. Card, Chief Operating and Financial Officer, or Anita Britt, Executive Vice President - Finance, +1-215-785-4000, both of Jones Apparel Group