- Renewal Extends License Agreement through the End of 2010

     - Allows Joe Boxer to Expand into Sears Stores

NEW YORK, Sept. 28 /PRNewswire-FirstCall/ -- Iconix Brand Group Inc., (Nasdaq: ICON) ("Iconix" or "the Company") today announced the renewal and expansion of its Joe Boxer license agreement with Sears Holdings. The new agreement will expand the term of the license for three additional years through the end of 2010, restructure the financial guarantee from Sears Holdings for the year 2007, and allow Sears Holdings to sell Joe Boxer products in both its Kmart and Sears stores.

According to Neil Cole, Chairman and CEO of Iconix Brand Group, "We are excited to expand our relationship with Sears Holdings. Their merchants have a compelling vision to grow Joe Boxer going forward in both Sears and Kmart, and I am confident that Iconix will be a powerful marketing partner for Sears Holdings helping to drive young customers through their doors and expanding Joe Boxer into an even more powerful lifestyle brand."

According to Peter Whitsett, Senior Vice President Merchandising for Sears Holdings, "We are thrilled to be able to continue our relationship with Iconix and Joe Boxer through 2010. This solidifies Joe Boxer as an important brand in our Kmart stores and gives us the opportunity to launch Joe Boxer within Sears. This is another step toward our mission of building lifetime relationships with our customers."

About Iconix Brand Group:

Iconix Brand Group Inc. (Nasdaq: ICON - News) 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) and LONDON FOG (R). The Company has also entered into a definitive agreement to purchase the brand MOSSIMO (R). The Company licenses it 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. Iconix, through its in-house advertising agency, advertises and markets its brands to continually increase consumer awareness and loyalty.

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 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 SEC filings. The words "believe," "anticipate," "expect," "confident," "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.

    Contact:

    David Conn
    Executive Vice President
    Iconix Brand Group
    212.730.0030

    Joseph Teklits
    Integrated Corporate Relations
    203.682.8200

SOURCE  Iconix Brand Group Inc.
    -0-                             09/28/2006
    /CONTACT:  David Conn, Executive Vice President of Iconix Brand Group
Inc., +1-212-730-0030; or Joseph Teklits of Integrated Corporate Relations,
+1-203-682-8200/
    /Web site:  http://iconixbrand.com /
    (ICON)

CO:  Iconix Brand Group Inc.; Sears Holdings
ST:  New York
IN:  REA ADV
SU:  LIC

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9691 09/28/2006 07:30 EDT http://www.prnewswire.com