Iconix Brand Group, Inc. announced the intention of certain of its subsidiaries to launch a new securitized financing program, expected to consist initially of $500 million of senior secured term notes and $100 million of variable funding notes. The net proceeds of the new facility will be used to finance the company's pending acquisition of the Umbro brand, to repay outstanding
indebtedness under the company's existing revolving credit facility and
asset backed notes, and for general corporate purposes, including
potential acquisitions and/or share repurchases.

Subject to market and other conditions, the new facility is anticipated to close during the fourth quarter of 2012.

The securitized financing program will allow for the issuance, based on the initially securitized assets, of up to a maximum of an additional $500 million of senior secured term notes based on market and certain other conditions, for total borrowing capacity of up to $1.1 billion.