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Iconix Brand Group Announces Upsizing and Pricing of $600 Million Securitized Notes

NEW YORK, Nov. 16, 2012 /PRNewswire/ -- Iconix Brand Group, Inc. (Nasdaq: ICON) ("Iconix" or the "Company"), today announced that certain of its subsidiaries have priced $600 million of Series 2012-1, Class A-2 Fixed Rate Senior Secured Notes ("Class A-2 Senior Notes"). The size of the Class A-2 Senior Notes offering was increased from the previously announced $500 million principal amount of Class A-2 Senior Notes to $600 million principal amount of Class A-2 Senior Notes.  The Class A-2 Senior Notes, which will be issued in a private securitized financing transaction, will have an expected life of seven years and bear interest at 4.229% per annum, payable quarterly.

The net proceeds from the sale of the Class A-2 Senior Notes will be used to finance the Company's pending acquisition of the Umbro brand, to repay outstanding indebtedness under the Company's existing revolving credit facility and asset backed notes, and for general corporate purposes, including potential acquisitions and/or share repurchases. The Company expects the offering to close the week of November 26, 2012. The Class A-2 Senior Notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable state securities laws.

This press release is neither an offer to sell nor the solicitation of an offer to buy the Class A-2 Senior Notes or any other security, and shall not constitute an offer, solicitation or sale of the Class A-2 Senior Notes or any other security in any jurisdiction in which such offer, solicitation or sale would be unlawful.  This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

About Iconix Brand Group, Inc.

Iconix Brand Group, Inc. owns, licenses and markets a growing portfolio of consumer brands including: CANDIE'S (R), BONGO (R), BADGLEY MISCHKA (R), JOE BOXER (R), RAMPAGE (R), MUDD (R), MOSSIMO (R), LONDON FOG (R), OCEAN PACIFIC (R), DANSKIN (R), ROCAWEAR (R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R), CHARISMA (R), STARTER (R), WAVERLY (R), ZOO YORK (R), ED HARDY (R) and SHARPER IMAGE (R).  In addition, Iconix owns interests in the ARTFUL DODGER (R), ECKO (R), MARC ECKO (R), MATERIAL GIRL (R), PEANUTS (R) and TRUTH OR DARE (R) brands. The Company licenses its brands to a network of leading retailers and manufacturers that touch every major segment of retail distribution from the luxury market to the mass market in both the U.S. and worldwide. Through its in-house business development, merchandising, advertising and public relations departments Iconix manages its brands to drive greater consumer awareness and equity.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. The statements that are not historical facts contained in this press release are "forward-looking statements" within the meaning of U.S. federal securities laws that involve a number of known and unknown risks, uncertainties and other factors, all of which are difficult or impossible to predict and many of which are beyond the control of the Company, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, uncertainty regarding the results of the Company's acquisition of additional licenses, continued market acceptance of current products and the ability to successfully develop and market new products particularly in light of rapidly changing fashion trends, the impact of supply and manufacturing constraints or difficulties relating to the Company's licensees' dependence on foreign manufacturers and suppliers, uncertainties relating to customer plans and commitments, the ability of licensees to successfully market and sell branded products, competition, uncertainties relating to economic conditions in the markets in which the Company operates, the ability to hire and retain key personnel, the ability to obtain capital if required, the risks of litigation and regulatory proceedings, the risks of uncertainty of trademark protection, the uncertainty of marketing and licensing acquired trademarks and other risks detailed in the Company's filings with the Securities and Exchange Commission. The words "believe", "anticipate," "expect", "confident", "will", "project", "provide" "guidance" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of such statements.

Contact Information:
    Jaime Sheinheit
    Investor Relations
    Iconix Brand Group

SOURCE Iconix Brand Group, Inc.

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