Iconix Wins Jury Verdict Against Hubert Guez, Sweet Sportswear, LLC, Azteca Production International, Inc. and Apparel Distribution Services, LLC

NEW YORK, April 11 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc. (NASDAQ: ICON) (the "Company") announced today that the jury has returned a favorable verdict in the litigation entitled Unzipped Apparel, LLC. et al. v. Sweet Sportswear, LLC., et al. commenced by the Company and certain of its subsidiaries in August 2004 in the Superior Court of California, Los Angeles County. A description of the litigation is contained in the Company's 2006 Form 10-K and certain of its other SEC reports.

The jury awarded the Company an aggregate of approximately $45 million in compensatory damages. The jury found for the Company on every one of the claims it pursued, and against the defendants on every counterclaim asserted. Additionally, the jury found that all of the defendants acted with "malice, fraud or oppression" with regard to Company's tort claims, and intentionally infringed the Company's federally registered BONGO(R) trademarks.

Based upon the multiple findings of malice and willfulness, a punitive damages phase of the trial will begin shortly. There will also be a subsequent proceeding in which the Court will determine whether treble damages should be awarded for the trademark infringement claims. In addition, many of these claims are subject to contractual and statutory fee-shifting provisions, entitling the Company to recover its attorneys' fees and costs.

The Company intends to vigorously pursue collection of the judgments against the defendants, when entered by the Court. The defendants have the right to appeal the judgments, but should be required to post an appropriate bond to secure the judgment and stay execution proceedings.

Neil Cole, Chairman and CEO commented, "We are extremely pleased with the verdict and feel that justice has been served."

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), MUDD(R), LONDON FOG(R), MOSSIMO(R), OCEAN PACIFIC(R), DANSKIN(R) and ROCAWEAR(R). The Company 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 increase 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
            212.730.0030

            Joseph Teklits
            ICR
            203.682.8258