Kellwood Company completed a $400 million five-year Asset Based Lending credit facility. This new facility, along with $433 million of cash and cash equivalents as of January 31, provide ample liquidity and financial flexibility to meet the operating, strategic, and corporate development needs of the Company for the foreseeable future. Available funds will be used as a source of working capital, for general corporate purposes and to fund acquisitions.

Banc of America Securities LLC and J.P. Morgan Securities Inc. are Joint Lead Arrangers
and Joint Book Managers. Banks participating in the new credit facility include Bank of
America, N.A., as administrative agent, JPMorgan Chase Bank and Wachovia, as co-syndication
agents. The Bank of Nova Scotia and SunTrust are co-documentation agents. Bank of New
York, First Bank, Fifth Third, HSBC, U.S. Bank, and UMB St. Louis are also participating in the
new facility.

In connection with the closing of the new facility, the Company has terminated its Credit
Facility dated October 20, 2004. As a result of the termination of the 2004 Credit Facility and
its related subsidiary guarantees, the subsidiary guarantees of the Company’s 1997 and 1999
debentures and the 2004 convertible debentures automatically terminate. With the
establishment of this secured Credit Facility, the $50 million Asian credit facility established in
December 2005 may become secured by the accounts receivable and inventory of the Asian
operations.