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Orvis Forms Strategic Alliance With Oxford Industries

From: ASAP


Orvis and Oxford Industries jointly announced today the formation of a strategic partnership with Oxford Industries, Inc. (NYSE:OXM) Under the newly signed agreement, Oxford will design, merchandise and produce a men's sportswear line, under license, using the Orvis brand name, to be sold in select upscale department and specialty stores beginning Fall 2005.

Orvis, founded in 1856, began as a single shop in a small Vermont village. Though the company was originally focused exclusively on fly fishing and the outdoors, the brand now encompasses a full range of products and services that embody the company's passion for the Distinctive Country Lifestyle. Orvis brings a unique perspective to the men's apparel business, with an unrivaled sporting legacy and a storied tradition of quality.

"We're a very unique brand," says Orvis President Leigh "Perk" Perkins. "We build fly fishing rods, send sportsmen to Africa on hunting safaris, and teach thousands of people to fish and shoot each year at our schools. There just aren't that many companies out there today with an authentic claim to country living and the outdoors. Orvis is it, really. That's why I'm so excited about working with Oxford to move the Orvis name into better men's clothing, and introduce our way of life to an entirely new customer. Guys know the real thing when they see it, and Orvis is as real as it gets."

Although Orvis has offered menswear for many years, the new line will build upon the brand's authenticity and quality, and elevate the name into the world of better sportswear. "This line is directed at the better consumer who shops in fine specialty and better department stores." says Michael Setola, President of Oxford Industries. "He appreciates quality and luxury fabrics and is seeking a look that matches his quest for a distinct outdoor lifestyle. The Orvis brand is uniquely positioned to connect with this gentleman through better apparel. He already trusts Orvis with his sporting traditions."

The Oxford line of men's product swill be marketed under the Orvis Signature Collection Name. The concept for the line's name, and its label, (a facsimile of company founder Charles F. Orvis' signature) is reminiscent of the brand's rich past and connects it firmly with today's male consumer.

The Signature Collection consists of premium sportswear with a distinctive country appeal. Cashmere sweaters, wool trousers and sportcoats, woven shirts in unique patterns, and luxury fabrics form the bulk of the line.

The Oxford relationship is one of several licensing and brand extensions in which Orvis is currently involved. The company is working on Orvis Shorefox, an outdoor lifestyle resort community in Colorado, custom home designs in partnership with Rocky Mountain Log Homes of Montana, and a recreational properties real estate venture with commercial realtors Cushman-Wakefield.

Oxford Industries, Inc. is a producer and marketer of branded and private label apparel for men, women, and children. Oxford provides retailers and consumers with a wide variety of apparel products and services to suit their individual needs. Oxford's brands include Tommy Bahama®, Indigo Palms ®, Island Soft®, Ben Sherman®, Ely & Walker®, and Oxford Golf®. The Company also holds exclusive licenses to produce and sell certain product categories under the Tommy Hilfiger®, Nautica®, Geoffrey Beene®, Slates®, Dockers®, and Oscar de la Renta® labels. Oxford's customers are found in every major channel of distribution including national chains, specialty catalogs, mass merchants, department stores, specialty stores, and Internet retailers. The Company's common stock has traded on the NYSE since 1964 under the symbol OXM. For more information, please visit Oxford's website at www.oxfordinc.com.

Orvis, the oldest continuously operated catalog company in the country, has been the premier outfitter of the distinctive country lifestyle and sporting traditions since 1856. The company's international headquarters for its mail order, e-commerce, retail, and wholesale businesses are in Manchester, Vermont. For more information, please visit www.orvis.com.

November 2004

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