NEW YORK, June 9 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc. (Nasdaq: ICON) ("Iconix" or the "Company"), today announced the termination of its exclusive financial advisory agreement between the Company and UCC Capital. The termination of the exclusive relationship is effective immediately and allows the Company to work with other investment banking partners with a more diverse set of resources and industry expertise. The Company has also announced that it has obtained a commitment from Merrill Lynch Mortgage Capital, Inc. to finance the cash portion of the Mossimo Inc. acquisition and is working with Merrill Lynch & Co. to explore strategic acquisitions within and outside of the apparel industry.

Neil Cole, Chairman and CEO of Iconix stated, "UCC Capital has distinguished itself in intellectual property financing arena and Bob D'Loren and his team have been good partners to Iconix. As we continue with our growth strategy to build a multi-billion dollar brand portfolio and global licensing business, we will require an array of debt and equity expertise and the ability to expand our deal flow to a broader spectrum of industries. We are very excited to be working with Merrill Lynch and moving forward with our strategic growth plans."

Additionally, Iconix has announced that William Sweedler, who was an executive vice president of the Company, president of its Joe Boxer division and a member of the Company's board of directors is stepping down. Mr. Sweedler will continue to work with Iconix on a part time basis and then as a consultant with respect to business development initiatives. Mr. Sweedler's position at the Company will not be replaced.

Iconix Brand Group Inc. (Nasdaq: ICON) owns, licenses and markets a growing portfolio of consumer brands including CANDIE'S (R), BONGO (R), BADGLEY MISCHKA (R), JOE BOXER (R) RAMPAGE (R) and MUDD (R). The company's brands 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 drive greater consumer awareness and loyalty and licenses its brands to a network of leading retailers and manufacturers.

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, Inc.
     212.819.2077

     Warren Clamen
     CFO
     Iconix Brand Group, Inc.
     212.819.2069

SOURCE  Iconix Brand Group, Inc.
    -0-                             06/09/2006
    /CONTACT:  David Conn, Executive Vice President, +1-212-819-2077; or
Warren Clamen, CFO, +1-212-819-2069, both of Iconix Brand Group, Inc./
    /Web site:  http://iconixbrand.com /
    (ICON)

CO:  Iconix Brand Group, Inc.; UCC Capital; Merrill Lynch Mortgage Capital,
     Inc.; Mossimo Inc.
ST:  New York
IN:  FIN REA FAS ADV
SU:  FNC TNM PER

GD
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9588 06/09/2006 08:00 EDT http://www.prnewswire.com