Financial Highlights FY 2008

Annual Report 2008

2 Financial Highlights FY 2008 Reconciliation of Net Income to Proforma Net Income and Diluted Earnings Per Share to Proforma Diluted Earnings Per Share Year Ended January 31 2008 2007(1) 2006 2005 2004(2) Net Income (in thousands) $ 28,173 $ 22,409 $ 22,682 $ 20,962 $ 13,152 Plus: Effect of debt extinguishment costs, net of tax effect $ $ 1,953 $ $ $ 4,646 Proforma Net Income (in thousands) $ 28,173 $ 24,362 $ 22,682 $ 20,962 $ 17,798 Diluted Earnings / Share* $ 1.80 $ 1.45 $ 1.51 $ 1.44 $ 1.06 Plus: Effect of debt extinguishment costs, net of tax effect $ $ 0.13 $ $ $ 0.37 Proforma Net Income (in thousands) $ 1.80 $ 1.58 $ 1.51 $ 1.44 $ 1.43 (1) Proforma net income and proforma diluted earnings per share for the year ended January 31, 2007, respectively, consists of net income and diluted earnings per share excluding the effect of approximately $3.0 million ($1.9 million, net of taxes) or $0.13 per share net of taxes, respectively, for debt extinguishment costs related to the call of our $57 million senior secured notes. Neither proforma net income nor proforma diluted earnings per share is a measurement of financial performance under accounting principles generally accepted in the United States of America. Accordingly, you should not regard this figure as an alternative to actual net income and/or diluted earnings per share. Proforma net income and proforma diluted earnings per share are presented solely as a supplemental disclosure, because management believes it is useful to compare the Company's current results across multiple periods. (2) Proforma net income and proforma diluted earnings per share for the year ended January 31, 2004, respectively, consists of net income and diluted earnings per share excluding the effect of approximately $7.3 million ($4.7 million, net of taxes) or $0.37 per share net of taxes, respectively, for debt extinguishment costs related to the call of our $57 million senior secured notes. Neither proforma net income nor proforma diluted earnings per share is a measurement of financial performance under accounting principles generally accepted in the United States of America. Accordingly, you should not regard this figure as an alternative to actual net income and/or diluted earnings per share. Proforma net income and proforma diluted earnings per share are presented solely as a supplemental disclosure, because management believes it is useful to compare the Company's current results across multiple periods.

3 $28.2 $1.80 $849 $864 $830 $21.0 $22.7 $24.4 $1.43 $1.44 $1.51 $1.58 $657 $17.8 $506 2004 2005 2006 2007 2008 2004 2005 2006 2007 2008 2004 Total Revenue (in millions of dollars) Proforma Net Income** (in millions of dollars) 2005 2006 2007 Proforma** Diluted Earnings Per Share (in dollars) 2008 Fiscal Year Ended January 31 In thousands, except per share 2008 2007 2006 2005 2004 Income Statement Data: Total Revenue $863,866 $ 829,842 $ 849,414 $ 656,581 $ 505,916 Gross Profit $ 291,634 $ 275,796 $ 262,514 $208,050 $ 167,135 Operating Income $ 62,483 $ 59,305 $ 57,721 $ 48,211 $ 44,792 Net Income $ 28,173 $ 22,409 $ 22,682 $ 20,962 $ 13,152 Proforma** Net Income $ 28,173 $ 24,362 $ 22,682 $ 20,962 $ 17,798 Diluted Earnings / Share* $ 1.80 $ 1.45 $ 1.51 $ 1.44 $ 1.06 Proforma** Diluted Earnings / Share* $ 1.80 $ 1.58 $ 1.51 $ 1.44 $ 1.43 Weighted Average Number of Common Shares (Diluted)* 15,657 15,455 15,050 14,598 12,444 Balance Sheet Data: Total Assets: $ 586,265 $ 593,206 $ 570,014 $ 514,960 $ 480,401 Total Shareholders Equity $ 273,527 $ 246,634 $ 219,380 $ 194,568 $ 150,883 *share and per share data have been restated to give effect to the 3 for 2 stock split in December 2006 **see Reconciliation of Net Income to Proforma Net Income and Diluted Earnings Per Share to Proforma Diluted Earnings Per Share on facing page

4 Dear Shareholders For Your company - Perry Ellis International, last year was about great challenges and new opportunities. The momentum we carried from fiscal 2007 enabled us to finish last year with record results in every financial metric and across our business platforms. Not only did we finish with record revenues of $864 million and earnings growth of over 14%, but we improved our financial position, Oscar and George Feldenkreis ending this fiscal year with the strongest balance sheet in our 40 year history. These are significant achievements that make us proud of the hard work that both management and associates have contributed towards achieving these results. Over the last 2 years we looked at a number of possible acquisitions. We bid on some and decided not to bid on many others. We felt that the multiples being requested made it very difficult, if not impossible, to offer our stockholders an appropriate return on investment. However, at the end of last year we became interested in the Liz Claiborne divestiture process and decided to add two exceptional women s brands to our portfolio - Laundry by Shelli Segal and C&C California - opening an exciting new growth avenue for Your company. We are aware of the macro-economic challenges we face entering fiscal 2009, yet remain confident that our business platforms will keep delivering strong results for Perry Ellis International this year and beyond. Strong organic growth and improved quality of revenues Our success in last year s challenging retail environment is a testament to the strength of our brands, our diversified business platforms and our ability to develop niche businesses. During a year when several of our competitors went through major transformations and experienced declines in revenues and profitability, our proven strategy delivered solid revenue growth, almost doubling the average growth of the menswear market. However, this is only part of the story. This growth includes a significant improvement in the quality of our business, as we continue to increase higher margin branded sales while reducing our dependence on slower growth and margin segments such as private label. To this end, despite exiting over $40 million of private label programs in fiscal 2008, we grew over $80 million with Perry Ellis, Swim, Golf, Hispanic and other initiatives. Today, private label represents approximately 19% of our total revenues. As a result, we are a stronger company today. We generated strong performance across our business platforms Perry Ellis Our Perry Ellis brand remained the best performing neo-traditional men s collection at department stores for a second consecutive year. Growing over 11% at retail, Perry Ellis was one of only two collections that grew 1. According to NPD Men s Sportswear Report December 2007

5 last year at department stores. Our increased door penetration and floor space expansion, plus the repositioning of several competing brands at retail make Perry Ellis a key growth driver for our future. Men s Wholesale With combined growth of over 40%, our PING, PGA TOUR, Champions Tour and Grand Slam brands have positioned us as a leader in the golf lifestyle. We are the king of the Hispanic market 2 thanks to the performance of the Cubavera and Havanera brands, which continued their strong retail performance and door expansion at Macy s and J.C. Penney s, respectively. As the largest and fastest growing minority in the U.S., Hispanics is a key niche we are uniquely positioned to keep addressing. Action Sports Brands / Swim Our swim platform continued its strong momentum in fiscal 2008 with yet another great year in revenue and EBITDA growth. Revenues increased over 40% thanks to the strong performance of our Nike, Jantzen, JAG and Perry Ellis brands. Particularly, Nike experienced significant growth last year, reaching almost $50 million in sales and expanding to over 6,300 doors. We are poised for another great year, aided by the exposure of the Nike brand in the Summer Olympics in Beijing. As the swim industry consolidates, and swim-only companies exit the market, we are uniquely positioned to keep increasing our penetration and we are confident this will be one of our key growth drivers for the future. In Action Sports, we are very optimistic about the potential of Gotcha and Redsand, both domestically and internationally. We believe there is an under-served niche in the mid-tier market through the growth of both the surf and skate lifestyles, and we intend to aggressively address this niche with these two brands. International As the global economy keeps growing, we continue to focus on developing our International business both through our European operations and our licensing group. Through our European operations in the U.K., we remain the #1 branded bottom in the U.K. with Farah, while expanding Original Penguin into continental Europe. Last year we also started new operations in Biarritz, France to participate in the growing European surf market after re-acquiring the license of Gotcha Europe. Key to our long term strategy is the development of strong partnerships with major players in high growth markets such as Asia and the Indian subcontinent. We are currently exploring strategic options with potential partners in these markets to take advantage of increasing opportunities for our brands, while efficiently leveraging our resources. Retail Our Perry Ellis retail division positively contributed to earnings for the first time in its history. We experienced another year of improved results due to strong management, better merchandising and strong comparable store sales performance. We concluded the closing of underperforming locations, and increased the benefits of store openings with our successful store prototype. We currently operate 40 retail doors and we expect strong operating profit leverage as we expand another 10 stores in fiscal 2009, in line with our target of 60-80 doors in five years. Original Penguin continued with strong productivity on its full priced concept. We currently operate 5 doors in premium locations and expect to add 2 more by the end of fiscal 2009. We see a potential for 15-20 stores in the near future. Finally, our e-commerce platform experienced strong growth through the Perry Ellis and Original Penguin sites, and we expect this trend to continue. Based on this success we 2. Out of fashion, but still in style, Barron s March 17th, 2008

6 also launched our Cubavera website last year. These sites will increase accessibility to our products and promote further interaction with our customer base for both brands. Licensing We had a great year in licensing, increasing royalty income by over 14% and signing several key agreements. Our royalty increase was led by the strong performance of our Perry Ellis fragrance licensee, as well as several categories in Original Penguin. Last year we also signed major licensing agreements for Perry Ellis dress shirts, outerwear and footwear all categories where we expect to see major contributions by the end of fiscal 2009 and beyond. We see strong potential in our brand portfolio. We recently signed a new licensing agreement for Perry Ellis home fashions, a great new growth avenue as the home fashion market is projected to rebound in the near future. Also, Laundry by Shelli Segal and C&C California have opened up tremendous licensing possibilities in the women s market in categories such as accessories, footwear and fragrance just to name a few. Enhancing our operational efficiencies to respond to retail challenges containment and new sourcing initiatives. Looking at the current macro-economic environment, we believe it is critical to remain focused on organizational improvements to maximize profitability and ensure we are operating efficiently. We continue to be focused on cost We continue investing in the necessary technology and training of our associates to address the increasing needs of our retailer partners. To this end, we continue the deployment of our Oracle Retek system, with an investment of more than $6 million over the last two years; as we learn to better utilize the information flowing out of points of sale, we will continue working with our retail partners to improve their productivity at each one of their stores. We will capitalize on the flexibility and strength of our sourcing operation. The pricing challenges in the sourcing of product from the Orient, mainly from China, accentuate the strategic advantage of our flexible sourcing organization. As prices from Chinese products increase, we are moving our production to lower cost countries such as Vietnam, or to duty free countries in Latin America, Middle East and Africa. Continued Balance Sheet improvement and enhanced flexibility Perry Ellis International is in the best financial position of its history. Our strong cash flows allowed to completely pay-off our revolving credit facility at the end of this fiscal year, reducing our debt to total capital ratio to 39%, down from 49% at the end of fiscal 2007. We also increased our interest coverage 3 from 3.3 times to 4.3 times during the same period, highlighting both our ability to cover our commitments and our increased flexibility. Finally, we also improved the management of our working capital by significantly reducing both our Inventories and Accounts Receivables. Disciplined Mergers and Acquisitions will open new growth opportunities A key element of our success is our history of disciplined and opportunistic mergers and acquisitions. We have developed a core competency of finding under-valued brands, rapidly integrating them into our operational platform and transforming them into solidly growing businesses. 3. Defined as EBITDA/Interest expense

7 While in recent years financial firms were inflating prices for brands and businesses, we kept our focus on improving the quality of our revenues, our operational efficiencies and our balance sheet. This discipline, coupled with the current turmoil in the financial sector, we believe, has opened again great new opportunities for us. Women s Contemporary: an exciting new growth avenue for Perry Ellis International The first of these exciting new opportunities is the acquisition of the Laundry by Shelli Segal and C&C California brands early this year. These two iconic brands open a new avenue of growth for Your company: Women s Contemporary. Although the overall women s market suffered a decline this year, the contemporary sector was the only one that grew, a trend we foresee strengthening in the future. We paid $23 million 4 for two great brands which combined, we believe, have the potential to generate over $150 million in revenues in less than five years, in addition to innumerable licensing opportunities. Operationally, it took only six weeks to fully integrate these brands into our back-office, allowing us to focus on maximizing their great potential. Furthermore we now have a strengthened women s business platform, thanks to the addition of the talented and motivated associates who have the design, merchandising and selling capabilities that we lacked in the women s market in the past. Brands such as Original Penguin will derive immediate benefit from these capabilities by developing a stronger women s line, while others such as Perry Ellis have the potential to expand into women s in the future. Despite a challenging environment, we are poised for another solid year May you live in interesting times, says an old Chinese proverb. And nobody would argue that these are indeed very interesting times. Today s environment presents great challenges but also unique opportunities. Today, your company is in the best shape of its history, and positioned to take advantage of the numerous opportunities that the current market will present to us. As companies that cannot keep up with the changes that have occurred in the last few years continue to be integrated into stronger players, new and very exciting opportunities are presented to us. We are off to a strong start for fiscal 2009, but no one is immune to the macroeconomic environment. However, we believe our diversified strategy, our powerful brands and our ability to identify and develop niche businesses provide us with strong growth potential. We would like to thank our shareholders for their continued support and each and everyone of our over 2,000 talented and dedicated associates across three continents, nine countries and thirty four offices for their contribution to our success. We look forward to an exciting and successful fiscal 2009 and beyond. George Feldenkreis Chairman and CEO Oscar Feldenkreis Vice Chairman, President and COO 4. Excluding $10.1 million in Inventory

2 New acquisitions in 2008 29 Brands 15 Product categories 18 U.S. offices & distribution centers 16 Worldwide offices 38 Sourcing countries 45 Retail stores 120 Total Licensing Agreements 30 U.S. Licensing Agreements 88 International Licensing Agreements 1,960 U.S. Employees 300 Employees outside the U.S. $864,000,000 Revenues in fiscal 2008 14% Net income growth over last year OVER 15,000 Stores carry Perry Ellis International products

9 Growth Our operating platform has created a sustained avenue for growth. In a mature but dynamic industry that expands between 2% and 3% per year, we have grown our results exponentially. Over the last six years, we have achieved an average top and bottom line growth of approximately 20% - moving from revenues of $306 million and net income of less than $11 million in Fiscal 2003 to revenues of nearly $900 million and near income of over $28 million in Fiscal 2008.

10 We continue to invest in our brands. The investment and successful development of our brands has led to increased consumer demand while improving gross profit margins.

Brand / Channel Distribution Luxury Department Stores Department Stores Chain Stores Green Grass / ASI Sports Channel Direct Retail International

INDIVIDUAL SALES, DESIGN & MERCHANDISING Men s Wholesale Perry Ellis Swim / Action Sports Contemporary International Retail Licensing All Brands Leveraged Marketing / Advertising SHARED BACK-END SERVICES Global Sourcing Distribution & Warehousing Information Systems / Technology Customer Service Human Resources Finance Legal

13 Leverage We leverage our capabilities to create efficiencies. Each of our brands benefits from the expertise of leading industry professionals. Their cumulative knowledge ensures seamless production and delivery, while combined volume allows for economies of scale. Careful cost controls and continuous improvements in logistics assure maximized savings. Our depth and breadth in sourcing is unparalleled. We are pioneers having opened our first office in Osaka in 1970, in Taipei and Seoul in 1972, and in Beijing in 1989, at a time when everybody was in Hong Kong only. We currently Have 10 sourcing offices through out Asia and Latin America. Over the past 45 years, we have built the infrastructure, personal relationships and supplier connections to assure the finest product at the best cost.

ASI / Green Grass 4% International 6% Retail 5% Department Stores 26% Specialty Retailers 26% & Others Percentage of Revenue by Distribution Channel (2008) 8% Wal-Mart 26% Mid-Tier Markets Tops 47% Percentage of Revenue by Product Category (2008) 40% Bottoms Men s Accessories 3% 3% Men s Swim 7% Ladies Swim

We are truly diversified by brand, product, category, channel of distribution and consumer. This strategy increases our growth potential while limiting risk to any one area. 15

16 Market Focus We identify niche markets that others overlook. We spot market needs that don't occur to our competitors, then focus our efforts where we know we'll have an edge. We're not afraid of uncharted waters if we feel there is potential. Once our sights are set, we move decisively.

19 Partnerships We thrive at partnering with our retail clients. We know how to strategize with them to produce the right product for the right customer at the right time and price. We forecast trends while charting demographic and location-specific metrics. Vigilant monitoring of product turn ensures timely replenishment and margin maximization. We recently implemented software that follows product sales by door, by color and by size at over 15,000 retail locations. Finding ways to better retailers bottom line is our primary focus.

21 Brand Building The brand revival. Perry Ellis Then: The year is 1998: After the untimely passing of leading designer Perry Ellis over a decade before, the iconic American clothing brand has lost its vision and is fragmented by inconsistent collections and diverging licensed product lines. The equity of the brand has begun to erode. Our Strategy: We purchase the brand for $75 million in 1999 and, determined to reestablish stylistic control, acquire the brand s largest licensee for approximately $90 million in 2003. Returning to the brand s original vision, we create an evolved interpretation of classic Americana that is both accessible and irreverent. In-store retail environments are expanded from 250 to 750 to reinforce brand integrity and increase value added. Perry Ellis Now: In fiscal 2008, worldwide retail sales top $1.5 billion for the Perry Ellis, Perry Ellis Portfolio and Perry Ellis America brands. In less than a decade, Perry Ellis has become the top producing sportswear line of its category in the nation s largest department store and is found in over 3,800 domestic doors and 40 countries around the world. The line resonates perfectly with the lifestyle of its core customer: it is cohesive and well-complemented by multiple product extension categories. Licensing revenue and presence explodes, with 14 domestic licensees and 26 international partners, and product that is guided and strictly monitored by our creative team.

22 Brand Building The art of timeless glamour. Jantzen Then: For most of a century, Jantzen was the leading name in swimwear. In 1910, the company invented an apparel category with the launch of the world s first bathing suit, and maintained its preeminence through a series of innovations, lasting construction, creative advertisements, glamorous styling and the world s most flattering fit. Yet by 2002, when we acquired the brand, it was no longer found in department stores and revenues were evaporating. Our Strategy: Although the brand seemed to be a relic of a bygone era, we knew differently. Like well-designed furniture in need of reupholstering, Jantzen suits had great bones. Recognizing the tremendous value to be mined from the design archives, we focused our talents on reinterpreting past successes for today s woman and repositioned the collection in the department store channel. Jantzen Now: The success of our last swim season left us sprinting to fulfill replenishment orders and requests from celebrity stylists. The Vamp Maillot, worn by supermodel Carolyn Murphy (facing page), was the number one seller at the country s largest department store this year. As far as we re concerned, following a recipe that brought nearly a century of success is the best way to guarantee its continuation throughout the next one.

25 Brand Building From old to hip. Munsingwear Then: Despite a name that dates back to 1886, the memory of a strong company supported by more than 3,000 employees, and the legacy of golf apparel sported by everyone from Arnold Palmer to Bob Hope to Richard Nixon, by 1996 brand representation in the marketplace is negligible. Our Strategy: We buy Munsingwear for under $20 million in 1996 and in 2003 position Original Penguin as a vintage-inspired youth lifestyle collection. Edgy designs secure floor space in Urban Outfitters while viral marketing campaigns and savvy product placement generate deafening buzz. Dynamic young golfer Aaron Badds Baddeley is signed to a sponsorship deal, returning the Penguin icon to its place on the green and the PGA Tour. Original Penguin Now: Since 2003, the brand has witnessed annual growth of over 114% per year and expanded to 13 European countries. Retail sales exceed $100 million, with full-priced retail stores located in New York City, Miami, Los Angeles, Newport Beach and Dallas. Devoted Penguin brand advocates, including celebrities and globe-trotting trend setters, rave about distinctive styling and the nostalgia that inspires its design.

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Lifestyle: Perry Ellis Perry Ellis Perry Ellis Portfolio Perry Ellis America Axis Axist Manhattan John Henry The Perry Ellis lifestyle appeals to men who are slightly ahead of the pack, but never out of place. Dynamic free-thinkers, they navigate work and play, city and shore with effortless ease. The clothes reflect the lifestyle: versatile; stylish... a cut above.

Lifestyle: Perry Ellis Perry Ellis The Perry Ellis, Perry Ellis Portfolio and Perry Ellis America brands, which we believe together generate over $1.5 billion in annual retail sales, are associated with a lifestyle that prizes elegance, quality, value, comfort and innovative designs. The Perry Ellis lifestyle appeals primarily to higher-income, status conscious, professional men. The Perry Ellis branded products are sold in upscale department, specialty, and major department stores, as well as online at www.perryellis.com. Axis and Axist The Axis brand is inspired by a casual California lifestyle and a customer that appreciates comfortable but fashion-conscious separates. We sell sportswear and activewear under the Axis brand, which is sold primarily at upscale department and specialty stores. The Axist brand appeals to a value-conscious consumer and is exclusively sold at Kohl s. John Henry John Henry is designed as a leader in dress shirts and sportswear to address the busy 9-to-9 lifestyle of today s professional man whose wardrobe doubles for both office and evening. Offering great taste and European influence, the brand is available at national and regional chain stores. Manhattan Founded in 1857, Manhattan boasts a rich heritage as a leader in dress shirts. Sharing one of the most highly recognized brand names in the world, Manhattan has held true to its namesake with a culture of rapid and forward-thinking innovation, including groundbreaking firsts such as the 100% cotton permanent press dress shirt. The brand s business and dress casual apparel is sold primarily to department stores and specialty stores.

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Lifestyle: Contemporary Laundry by Shelli Segal C&C California Original Penguin It s about attitude, not age. Energized, creative, and versatile, Contemporary customers watch trends but purchase only when an item delivers an accurate representation of their character. Innovators themselves, they value authenticity in the brands they support, expecting a unique point of view.

Lifestyle: Contemporary Laundry By Shelli Segal is the brand for the contemporary woman whose life is an adventure, bringing democracy to luxury through must-have clothes for a 24/7, 21st century customer. The brand is available in premium department stores and luxury specialty retailers. C&C California Based in Los Angeles, the C&C California brand was founded in 2003. Using premium fabrics, C&C California creates chic California inspired apparel for women, men and children with an emphasis on superior hand feel and comfort. C&C California s products have a broad appeal, targeting the fashion conscious woman who has a contemporary attitude towards dressing, regardless of age. C&C California is distributed through specialty retailers, luxury department stores and its own website www.candccalifornia.com. Original Penguin We reintroduced the Original Penguin brand with its signature Penguin icon in fiscal 2003, featuring vintage inspired lifestyle products for Generation X and Y men and women that redefined the terms geek-chic and eccentric preppy. The product line is sold both in the U.S. and in Europe at upscale department and upper tier specialty stores and includes apparel, shoes and accessory items. The brand is also sold through five full priced stand-alone stores and online at www.originalpenguin.com.

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Lifestyle: Swim / Action Sports Swim Jantzen Nike Jag Girl Star Action Sports Gotcha Redsand MCD Pro Player The needs of today s Swim and Action Sports consumers are highly specific yet increasingly diverse. A woman might decide to purchase based on a flattering fit; an athlete by comfortable construction; a young man by the brand name emblazoned across the product. Lucky for our shareholders, we ve got our bases covered.

Lifestyle: Swim / Action Sports Jantzen Almost a century old, the Jantzen brand signifies leadership in style, innovation and fashion. Jantzen swimwear embraces "timeless glamour" and reaches into an archive of celebrity heritage for the latest design inspiration. The brand's signature red diving girl logo is one of the most recognized icons in existence. Combining classic elements with our modern day approach to marketing, the new collection is sold in upscale, specialty and major department stores. Nike We have a license agreement with Nike to design and market men's, women's, juniors', boys' and girls' swimwear, men's and juniors' competitive swimwear, and swimwear apparel and accessories. Swim products are sold through sporting goods stores, specialty stores, team dealers and department stores. JAG We acquired the exclusive license for JAG branded men s and women s swimwear and cover-ups in May 2006. A major player in the swimwear arena for the past two decades, JAG is intended for an active missy consumer seeking functionality and style. It is sold in major department stores, national chains and specialty stores. Girl Star Girl Star is a contemporary Juniors swimwear brand catering to fun-loving girls that fancy vibrant colors and exciting prints. Appreciating a touch of glamour that carries her beyond the beach to poolside, the Girl Star customer purchases multiple suits in preparation for a variety of wearing occasions. Gotcha Launched in 1978 from a Laguna Beach, California garage, Gotcha has transformed the surf market. Our new operations in Biarritz, France, will address growing opportunities from the heart of the European surf market. Gotcha is marketed as an accessible California youth lifestyle brand, widely distributed to mid-tier and action sports accounts and sold in over twenty countries across five continents. Redsand Founded on the beaches of Southern California, Redsand is firmly rooted in progressive youth culture. Inspired by the independent spirit fundamental to the coastal lifestyle, the brand is designed to ignite self-expression and is a product of the fusion of nature, music, surf and art. Redsand is sold in national specialty and surf store chains. MCD Focused on a core surf audience, MCD designs are fashion forward and aggressive. Its rebellious and irreverent attitude resonates strongly with its young target demographic. The brand is marketed via athlete sponsorships and grassroots initiatives within the surf and action sports community, and is distributed domestically through a network of specialty surf shops and better department stores and internationally through licensees. Pro Player is an action sports brand with unisex and cross-generational appeal. By partnering with the NFL, MLB, NHL and college teams, Pro Player became known to virtually every sports enthusiast. Committed to innovative design and performance features, the brand appeals to health conscious individuals who aspire to a proathlete lifestyle; it is sold at national and regional chain and sporting goods stores.

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Lifestyle: Golf PING PGA Tour Champions Tour Grand Slam Freshly cut grass sparkling with the last remaining drops of dew, an early tee time, a cool windless spring morning all conditions for the game of a lifetime. Golf is more than a sport: it is a nod towards the pursuit of perfection, accompanied by people of like mind on or off the green.

Lifestyle: Golf PING We are the worldwide master licensee for men s, boys and ladies apparel for the prestigious PING golf brand, which appeals to golfers and status conscious men. PING is an admired golf brand associated with the highest standard of quality. Golf shirts, sweaters, shorts and outerwear are widely distributed in golf shops, top-tier specialty, department stores and the corporate wear market. PGA TOUR and Champions Tour We are the exclusive U.S. men s apparel licensee for the PGA TOUR and Champions Tour brands for department and chain store channels of distribution. The PGA TOUR features the game s biggest names and most competitive players in the world, and is covered in virtually every major market in North America with hundreds of thousands of on-site fans and millions of television viewers worldwide. The Champions Tour showcases the most accomplished and revered players in golf, and has been labeled the most successful senior sports venture in history. The Champions Tour label is sold exclusively at Macy s Department Stores. Products under both the PGA TOUR and the Champions Tour label include golf shirts, outerwear, sweaters, pants and shorts. Grand Slam Grand Slam is America s golf heritage brand. In 1951, Grand Slam introduced their world famous golf shirt with patented underarm gussets, which allowed for a full and even swing. Today, this heritage is brought to life through a performance golf line that reflects a classic golf lifestyle. The Grand Slam brand is sold exclusively at Kohl s.

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Lifestyle: Hispanic Cubavera Havanera Centro Perry Ellis International the King of the Hispanic Market Barron s, March 17, 2008 Música, alegría, corazón consumers of all ethnicities feel drawn to the zest for life inherent to the Hispanic lifestyle. These clothes melt the division between weekend and workday, evoking memories of tropical destinations and long afternoons spent with family and friends.

Lifestyle: Hispanic Cubavera, the Havanera Co. and Centro The Cubavera, Havanera Co. and Centro brands appeal to a multicultural consumer. The collections are designed with cross generational and crossover appeal while embracing the Hispanic lifestyle. Cubavera is currently sold in major department stores as well as specialty stores around the country, while the Havanera Co. and Centro brands are sold exclusively at JC Penney and Kohl s, respectively. Cubavera is also sold on line at www.cubavera.com. Perry Ellis International has been a leader in the Hispanic market for over 40 years. The company has developed intimate knowledge of the demographics, design and production of apparel targeting the lifestyle with multi-cultural appeal. Our diversified marketing strategy includes bilingual packaging, visuals and integrated media plans. Additionally our planning department has been able to analyze and target demographics via geographic information systems allowing the retailer to have a customized assortment by size scale resulting in increased profitability

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Lifestyle: Traditional Savane Tricots St. Raphael Mondo di Marco Dockers (outerwear) Farah Munsingwear Grounded and secure, the Traditionalist chooses an understated wardrobe and prefers familiarity to trends. His no-nonsense approach is reflected in the comforts and solid construction of clothes that are styled to endure.

Lifestyle: Traditional Savane Leading in innovation and design, the Savane brand is synonymous with men s pants and offers quality, value and performance. Committed to sustainability practices, Savane recently launched its Eco-Start collection offering 100% organic cotton. The Savane collection offers an array of styles and fabrications for every wearing occasion, and can be found in major department stores and specialty retailers. Farah The Farah brand is one of the United Kingdom s most iconic fashion labels, with Farah bottoms currently holding the top market share position. Appealing to value-minded traditionalists, the Farah sub brands cover multiple wearing occasions and are distributed in department stores, specialty stores and discount club markets, and through mail order. Tricots St. Raphael Tricots St. Raphael represents a sophisticated traditional lifestyle and caters to discerning men who demand elegant design and luxurious fabrics. Adhering to the highest quality standards, the brand s sweaters, knits and wovens are sold primarily at upscale department and specialty stores. Mondo di Marco The Mondo di Marco collection interprets the essence of its Italian heritage through a modern sportswear approach and delivers edgy European designs to fashion conscious men. The brand is available at upscale department stores and upper tier specialty stores. Dockers We have a license agreement with Levi Straus & Co. to manufacture and distribute men s cloth outerwear in the United States and Mexico. The line includes men s jackets, coats and synthetic fleece, and it is sold in department and national chain stores, as well as in specialty retailers. Munsingwear Since 1886, the Munsingwear brand has delivered quintessential American apparel and innovations such as kangaroo pouch underwear and nylon-reinforced neck and leg bands. Golf shirts with a penguin icon were introduced in 1951, giving way to a new sportswear lifestyle. The Penguin logo was popular through the 1970's and was worn by the likes of Arnold Palmer, Bob Hope, Bing Crosby and John F. Kennedy. We work closely with domestic and international licensees to preserve the heritage and relevance of this iconic brand.

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Licensing Licensing Platform The power of our brands coupled with our experienced licensing team gives us an enormous opportunity to expand into new categories, geographies and businesses, without the extensive capital requirement normally needed to do so. Today, licensing represents over $500 million in wholesale sales.

Licensing Opportunities Continued strength for existing licenses such as home fashions, Perry Ellis dress shirts, outerwear and footwear. Further penetration of Original Penguin accessories. Development of international markets particularly Asia. Licensing potential of Laundry by Shelli Segal and C&C California brands. Today, licensing represents $500 million in wholesale sales. We have 120 licensing agreements in over 50 countries.

Cubavera store, Presidente Mazaryk, Mexico City, Mexico

Quality, Fit, Performance

61 European Presence Original Penguin Further penetration in Continental Europe Farah Strong vintage appeal for young consumers Gotcha Re-launch for the European surf market Based in the United Kingdom, our European operations successfully transmit the appeal of new world brands to one of the globe's most dynamic markets. With headquarters in Essex, showrooms in London, distribution centers on the Continent and the U.K., plus offices in France and Ireland, we have positioned ourselves for continued expansion and the calculated introduction of relevant labels.

Original Penguin store, Newport Beach Original Penguin store, Melrose, L.A. Perry Ellis store, Dolphin Mall, Miami

63 Retail Stores Retail Space (sq. ft.) Sales per sq. ft. - approx. Store Count Projected New Doors Perry Ellis +100k $400 40 10 Alpine CA Camarillo CA Napa CA San Ysidro CA Lakewood CO Destin FL Ellenton FL Dolphin Mall FL Naples FL Orlando (3) FL Sawgrass FL Tampa FL Lawrenceville GA Aurora IL Wrentham MA Birch Run MI Atlantic City NJ Jersey Gardens NJ Seacaucus NJ Las Vegas (2) NV Primm NV Harriman NY Riverhead NY Jeffersonville OH Limerick PA Philadelphia PA Tannersville PA Charleston SC Myrtle Beach (2) SC Allen TX El Paso TX Rio Grande TX Round Rock TX San Marcos TX Potomac Mills VA Tulalip WA Original Penguin +12.2k $700 5 3 Los Angeles CA Newport Beach CA Miami Beach FL New York NY Dallas TX Chicago IL * *Opening soon Opening soon Houston TX Tempe AZ Grapevine TX Tinton Falls NJ Williamsburg VA Barceloneta PR

64 Directors (left to right) Leonard Miller (2) (4) (5) Director, Retired Vice President and Secretary, Pasadena Homes, Inc. Joseph Lacher (1) (2) (3) (4) (5) Director, Retired President, Florida Bell South Telecommunications, Inc. Linda Platzner (1) (4) (5) Director, Retired, Corporate Executive Vice President, Primedia Publishing Joe Arriola (2) (3) (4) (5) Director, Retired Managing Partner, MBF Healthcare Partners Gary Dix (1) (3) (4) (5) Director, Partner, Mallah, Furman & Company, P.A. Salomon Hanono (3) Director Ronald L. Buch (2) (4) (5) Director, Retired, Vice President K-MART Corporation George Feldenkreis Chairman of the Board and Chief Executive Officer Oscar Feldenkreis Vice Chairman, President and Chief Operating Officer Joseph Natoli (1) (4) (5) Director, Senior Vice President for Business and Financial and Chief Financial Officer, University of Miami (not pictured) (1) Member of the Audit Committee (2) Member of the Compensation Committee (3) Member of the Investment Policy Committee (4) Member of the Corporate Governance (5) Member of the Nominating Committee Officers George Feldenkreis Chairman of the Board and Chief Executive Officer Oscar Feldenkreis Vice Chairman, President and Chief Operating Officer Fanny Hanono Secretary and Treasurer Stephen Harriman President, Bottoms Division Thomas D'Ambrosio Interim Chief Financial Officer Paul Rosengard President, Perry Ellis Division Cory Shade General Counsel

Investor Inquiries Investors and other parties with questions, including requests for the Company s Annual Report or Form 10-K for the year ended January 31, 2008 (available without charge), should direct requests in writing to: Francisco Gonzalez-Meza Hoffmann, Strategic Initiatives and Investor Relations Perry Ellis International, Inc., 3000 N.W. 107th Avenue, Miami, FL 33172 or e-mail investor@pery.com Shares Traded Nasdaq Stock Market Ticker Symbol PERY Transfer Agent Continental Stock Transfer & Trust Company, 17 Battery Place, 8th Floor, New York, NY 10004 Independent Registered Public Accounting Firm Deloitte & Touche LLP, 200 S. Biscayne Boulevard, Suite 400, Miami, FL 33131-2310 Agent Bank Wachovia Bank, NA, 110 E. Broward Boulevard, Suite 2050, Ft. Lauderdale, FL 33301 Corporate Headquarters Perry Ellis International, Inc. 3000 NW 107th Avenue Miami, FL 33172 tel 305 592 2830 fax 305 594 2307 e-mail investor@pery.com www.pery.com US Administrative Offices and Showrooms 7495 NW 48th Street, Miami, FL 33166 42 W. 39th Street Floors 4, 5, 7, 16 New York, NY 10018 1114 Avenue of the Americas Floors 17 and 36 New York, NY 10036 1350 6th Avenue 9th Floor New York, NY 10019 1411 Broadway 24th Floor New York, NY 10018 1441 Broadway 17th Floor, New York, NY 10018 4902 West Waters Avenue, Tampa, FL 33634 411 NE 19th Avenue Portland, OR 97232 5880 W. Jefferson Boulevard Los Angeles, CA 90016 15255 Alton Parkway, Suite 300 Irvine, CA 92618 110 E. 9th Street #A587, Los Angeles, CA 90079 5835 S. Eastern Suite 100 Los Angeles, CA 90040 2300 N. Stemmons #2A70, Dallas, TX 75262 5300 Town & Country Blvd. Suite 260 Frisco, TX 75034 600 Stewart Street, Suite 800 Seattle, WA 98101 813 S.W. Rain Tree Lane, Suite 9 Bentonville, AR 72712 N56 W16718-A Ridgewood Drive, Menomonee Falls, WI 53051 Design: Suissa Design, Perry Ellis International Creative Services Websites www.axismenswear.com www.candccalifornia.com* www.cubavera.com www.shopcubavera.com* www.girlstar.com www.gotcha.com www.grand-slam.com www.havanera.com www.jantzen.com www.johnhenry.com www.laundrybydesign.com www.mcd-surf.com www.mondodimarco.com www.munsingwear.com www.natural-issue.com www.originalpenguin.com* www.pery.com www.perryellis.com* www.pingcollection.com www.proplayer.com www.redsand.com www.savane.com www.tricotsweb.com www.tourapparel.com *e-commerce and marketing website

Perry Ellis International, Inc. 3000 NW 107th Avenue Miami, FL 33172 Tel 305 592 2830 Fax 305 594 2307 www.pery.com

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