Liz Claiborne Signs Licensing Agreement

New York City-based Liz Claiborne Inc. recently entered into a licensing agreement with Chelsea
Design Group, also based in New York City, whereby Chelsea will design and manufacture intimate
apparel under the Liz Claiborne, Liz Claiborne Woman and Villager labels. The first lines will be
launched to the trade in August, and will be available at retail in Spring 2004.

August 2003