Perry Ellis Buys Gotcha International Trademarks

Perry Ellis International, Inc. (PERY) announced today that it has signed a definitive asset purchase agreement to acquire primarily all of the worldwide intellectual property, including the Gotcha(R) and GirlStar(R) trademarks and the intellectual property license agreements, of the leading California lifestyle company Gotcha International. The cash transaction is expected to close in January 2006, subject to satisfation of closing conditions set forth in the asset purchase agreement.

Gotcha is an internationally recognized surf wear brand produced through a global network of licensees. Gotcha is sold through surf, specialty and department stores in 20 countries across five continents.