The Company also announces two license agreements in core outerwear categories

NEW YORK, Aug. 29 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc., (Nasdaq: ICON) ("Iconix" or "the Company") today announced that it has closed the acquisition of the London Fog brand from London Fog Group Inc. The Company previously announced that it was planning on purchasing the brand, pending final approval by the Nevada state bankruptcy court, which was subsequently received.

The Company had also previously announced that it has entered into a license agreement with leading outerwear maker Herman Kay, which will hold the license for men's and women's outerwear and women's suits in the United States.

In addition, the Company has signed a license with leading children's outerwear maker Amerex (USA), Inc., which will hold the license for children's outerwear in the United States.

Neil Cole, Chairman and CEO of the Iconix Brand Group, stated, "We are thrilled to have closed on our purchase of the London Fog brand. With two leading outerwear makers forming the foundation of our licensing program, we are confident will be able to quickly capitalize on the long and rich heritage of London Fog and build it into a lifestyle brand that appeals to a broad range of consumers."

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 signed a definitive agreement to purchase the brand MOSSIMO(R) which is anticipated to close in September of this year. 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 drive consumer awareness and loyalty.

About Herman Kay:

Herman Kay is one of the largest coat companies in the United States and has been in business and family run for over 70 years. Herman Kay manufacturers and sells coats and outerwear under the labels Michael Kors, Anne Klein, JLO and Jones New York, among others, and is based in New York City and run by Barry and Richard Kay.

About Amerex:

Amerex is a leading children's outerwear company that has been in business for nearly 75 years. Amerex manufactures and sells coats and outerwear for children under the labels of Osh Kosh, Mudd, Wrangler and Jones New York.

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-                             08/29/2006
    /CONTACT:  David Conn, Executive Vice President of Iconix Brand Group,
+1-212-730-0030; or Joseph Teklits, of Integrated Corporate Relations for
Iconix Brand Group, Inc., +1-203-682-8200/
    /Web site:  http://iconixbrand.com /
    (ICON)

CO:  Iconix Brand Group, Inc.; London Fog Group Inc.; Herman Kay;
     Amerex (USA), Inc.
ST:  New York
IN:  REA FAS
SU:  TNM LIC

AM
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4016 08/29/2006 08:00 EDT http://www.prnewswire.com