Mossimo's Board of Directors has appointed a special committee of independent directors to review the proposal by Mossimo Giannulli received on April 11, 2005 to acquire all of the outstanding publicly-held common stock of Mossimo, Inc. at a price of $4.00 per share. The members of the special committee are Robert Martini, William Halford and Brett White.

The special committee has engaged the law firm of Gibson, Dunn & Crutcher as independent counsel to the committee and Houlihan Lokey Howard & Zukin as independent financial advisor to assist it in its evaluation. The special committee, in consultation with Houlihan Lokey and Gibson Dunn, will carefully consider and evaluate Mossimo Giannulli's proposal in due course.

The Company expects this process to have no material impact on the day-to-day business operations. The Company also stated that it does not intend to comment further at this time.