Anne Klein New York Announces New Retail Openings

NEW YORK, Aug. 2 /PRNewswire-FirstCall/ -- Following an intensive phase of strategic planning and re-alignment since purchasing the Anne Klein New York brand in 2003, Jones Apparel Group stands poised to unveil a bold new retail identity for the storied brand this fall. Between August and October of this year, the Company will open eight new Anne Klein New York stores across the United States, with plans to roll out as many as 15 more annually over the next few years.

The first new accessories-only Anne Klein New York store will open at Century City in Los Angeles on August 15th. The New York City store will be the site of the first accessory/apparel venue at 655 Madison Avenue, opening September 8th. Additional scheduled openings include Green Hills Mall in Nashville (9/12); Greenwich Avenue in Greenwich, Connecticut (9/15); Plaza Frontenac in St. Louis, Missouri (9/19); Somerset Collection in Troy, Michigan (9/19); San Francisco Center in San Francisco (9/28) and Copley Plaza in Boston (10/18).

"We are thrilled to recognize and re-energize the heritage of the Anne Klein brand with the imprint of a strong and distinctive retail presence. We are confident that this is a major step in re-establishing the Anne Klein New York name among the most significant in American fashion," stated Heather Pech, Chief Executive Officer, Company-Owned Retail Footwear and Apparel, Jones Apparel Group.

Accessories are expected to be a key element in the continued growth of the Anne Klein New York brand. Handbags will represent about half of the offering, with footwear, jewelry, belts, scarves, sunglasses and watches rounding out the core selection. Additionally there will be small gift items like fragrant candles and note cards. Handbags will be under the design direction of Dominique Aurientis. Dominique is a tremendous talent, having designed for such prestigious companies as Ferragamo and Pucci.

Each store will be approximately 1,600 square feet in size and laid out in a series of "little rooms" - each dedicated to a different product category. The Madison Avenue location will be considerably larger at 2,500 square feet and will feature select Anne Klein New York apparel items, in addition to the branded accessories. The interior decor reflects the modern attitude of the personal style that Anne Klein cherished. The concept is described as "a metaphor for the modern woman," featuring sleek, ash wood walls, smoked glass shelving, brushed metal showcases, travertine marble flooring and plush brown carpeting. A striking, carved Gold leaf table will serve as a signature visual theme at the entrance. There is also dramatic, yet comfortable tufted "leather" banquette seating with backs extending to the ceiling.

"Anne Klein was the quintessential elegant American woman, and her lifestyle lives on within this new luxurious retail world," stated Eileen McMaster, Vice President Corporate Communications at Anne Klein New York.

Jones Apparel Group, Inc. (http://www.jny.com/), a Fortune 500 company, is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories. The Company also markets directly to consumers through our chain of specialty retail and value-based stores, and operates the Barneys New York chain of luxury stores. The Company's nationally recognized brands include Jones New York, Evan-Picone, Norton McNaughton, Gloria Vanderbilt, Erika, l.e.i., Energie, Nine West, Easy Spirit, Enzo Angiolini, Bandolino, Joan & David, Mootsies Tootsies, Sam & Libby, Napier, Judith Jack, Kasper, Anne Klein, Albert Nipon, Le Suit and Barneys New York. 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 primarily 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.

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 involves 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 identify acquisition candidates and, in an increasingly competitive environment for such acquisitions, acquire such businesses on reasonable financial and other terms; -- the integration of the organizations and operations of any acquired businesses into the Company's existing organization and operations; -- 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 the new 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 fiscal year ended December 31, 2005, 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.