PEI Licensing, Inc. Announces a New Agreement for Perry Ellis® Sunglasses

PEI Licensing, Inc. a wholly owned subsidiary of Perry Ellis International (NASDAQ: PERY) announced today that it has entered into a license agreement with Oxford Ophthalmic Corporation, a division of Eyewear Designs Ltd., to design, manufacture and distribute men’s and women’s sunglasses and readers under the Perry Ellis brand. Oxford Ophthalmic Corporation is the long time Perry Ellis ophthalmic licensee.

Eyewear Designs Ltd. has done an excellent job with the Perry Ellis Ophthalmic Eyewear over the years and is recognized for having the finest collection of designer eyewear brands in the industry. Each collection offers a broad base of design inspirations that reflect the designer’s or the brand’s style. When viewed as a whole, the collections comprise a comprehensive family of brands that target every niche of the eyewear consumer market.

George Feldenkreis, Chairman and Chief Executive Officer of Perry Ellis International, said: "Eyewear Designs Ltd. is an industry leader in the eyewear market and the right partner for adding a new product category and interpreting the Perry Ellis lifestyle. We are extremely excited about the potential of this agreement and we look forward to working together with Eyewear Designs on a successful launch.”

The Perry Ellis line will consist of men’s and women’s sunglasses and readers. Product will be distributed through department stores and specialty shops throughout the United States and Canada. Initial shipments of men’s sunglasses will begin in January 2012.

"Perry Ellis is an internationally renowned brand and we are thrilled at the prospect of working together to market Perry Ellis Eyewear. The collection reflects the design aesthetic of the brand and reinforces its strong heritage. We feel Perry Ellis is an excellent addition to our impressive brand portfolio and offers our customers the ability to not only satisfy a niche in the eyewear market, but also appeal to a broader audience,” states Andrea Gluck, Co-President of Eyewear Designs Ltd.

About Perry Ellis International

Perry Ellis International, Inc. is a leading designer, distributor and licensor of a broad line of high quality men's and women's apparel, accessories and fragrances, as well as select children’s apparel. The Company's collection of dress and casual shirts, golf sportswear, sweaters, dress pants, casual pants and shorts, jeans wear, active wear, dresses and men's and women's swimwear is available through all major levels of retail distribution. The Company, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands, including: Perry Ellis^®, Jantzen^®, Laundry by Shelli Segal^®, C&C California^®, Rafaella^®, Cubavera^®, Centro^®, Solero^®, Munsingwear^®, Savane^®, Original Penguin^® by Munsingwear^®, Grand Slam^®, Natural Issue^®, Pro Player^®, the Havanera Co.^®, Axis^®, Tricots St. Raphael^®, Gotcha^®, Girl Star^®, MCD^®, John Henry^®, Mondo di Marco^®, Redsand^®, Manhattan^®, Axist^®, Farah^®, Anchor Blue^® and Miller’s Outpost^®. The Company enhances its roster of brands by licensing trademarks from third parties, including: Pierre Cardin^® for men’s sportswear, Nike^® and Jag^® for swimwear, and Callaway^®, TOP-FLITE^®, PGA TOUR^® and Champions Tour^® for golf apparel. Additional information on the Company is available at http://www.pery.com.

About Eyewear Designs Ltd.

Eyewear Designs Ltd. is headquartered in Syosset, N.Y. The Company designs, distributes and markets superior quality designer eyewear products to an ever-growing global distribution network, and many large retail accounts. For over 30 years, Eyewear Designs has been acknowledged as an industry leader offering world-class designer brand eyewear with innovative styling, manufactured to the highest quality standards.

Safe Harbor Statement

We caution readers that the forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations rather than historical facts and they are indicated by words or phrases such as "anticipate," "believe," "budget," "contemplate," "continue," "could," "estimate," "expect," "guidance," "indicate," "intend," "may," "might," "plan," "possibly," "potential," "predict," "probably," "proforma," "project," "seek," "should," "target," or "will" and similar words or phrases or comparable terminology. We have based such forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, many of which are beyond our control. These factors include: general economic conditions, a significant decrease in business from or loss of any of our major customers or programs, anticipated and unanticipated trends and conditions in our industry, including the impact of recent or future retail and wholesale consolidation, recent and future economic conditions, including turmoil in the financial and credit markets, the effectiveness of our planned advertising, marketing and promotional campaigns, our ability to contain costs, disruptions in the supply chain, our future capital needs and our ability to obtain financing, our ability to protect our trademarks, our ability to integrate acquired businesses, trademarks, trade names and licenses, our ability to predict consumer preferences and changes in fashion trends and consumer acceptance of both new designs and newly introduced products, the termination or non-renewal of any material license agreements to which we are a party, changes in the costs of raw materials, labor and advertising, our ability to carry out growth strategies including expansion in international and direct to consumer retail markets, the level of consumer spending for apparel and other merchandise, our ability to compete, exposure to foreign currency risk and interest rate risk, possible disruption in commercial activities due to terrorist activity and armed conflict, and other factors set forth in Perry Ellis International's filings with the Securities and Exchange Commission. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in Perry Ellis' filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are valid only as of the date they were made. We undertake no obligation to update or revise any forward-looking statements to reflect new information or the occurrence of unanticipated events or otherwise.