Oxford Industries, Inc. Commences Tender Offer for 8-7/8% Senior Notes Due 2011

ATLANTA, June 15 /PRNewswire-FirstCall/ -- Oxford Industries, Inc. ("Oxford") announced today that it has commenced a cash tender offer for any and all of its $166,805,000 aggregate principal amount of its 8-7/8% Senior Notes due 2011, CUSIP No. 691497AC5 (the "Notes").

The tender offer will expire at 12:00 midnight, New York City time, on July 13, 2009, unless extended or earlier terminated (the "Expiration Date"). Holders who validly tender their Notes prior to 5:00 p.m., New York City time, on June 26, 2009, unless extended or earlier terminated (the "Early Tender Date"), will be entitled to receive $1,000, payable in cash, for each $1,000 principal amount of Notes accepted for payment, which amount includes an early tender payment of $30 per $1,000 principal amount. Notes tendered on or prior to the Early Tender Date are expected to receive payment on the initial payment date which is expected to be promptly following satisfaction or waiver of the conditions to the offer. Oxford may accept Notes for payment after the Early Tender Date but prior to the Expiration Date. If Oxford elects to have early acceptance and payment dates, it will accept all Notes validly tendered prior to the early acceptance date. Holders who validly tender their Notes after the Early Tender Date but on or prior to the Expiration Date will receive $970 per $1,000 principal amount of Notes accepted for purchase. Notes tendered after the Early Tender Date but before the Expiration Date are expected to receive payment on the final payment date which is expected to be promptly following expiration of the offer. The early acceptance and payment feature is at the option of Oxford and the early acceptance date and final acceptance date could be the same date, and the initial payment date and final payment date could be the same date. Holders of Notes accepted for purchase will receive accrued and unpaid interest up to, but not including, the applicable payment date.

Oxford intends to finance the tender offer with the net cash proceeds of a new notes offering together with borrowings under its U.S. revolving credit facility. The closing of the tender offer will be conditioned, among other things, on Oxford's successful completion of a new notes offering. There are no withdrawal rights with respect to the tender of Notes, except as may be required by law.

The terms and conditions of the tender offer are set forth in the Offer to Purchase dated June 15, 2009 (the "Offer to Purchase"). Oxford may amend, extend or, subject to certain conditions, terminate the tender offer.

Oxford has retained Banc of America Securities LLC and SunTrust Robinson Humphrey, Inc. as the dealer managers in connection with the tender offer. Questions regarding the tender offer and requests for documents may be directed to Banc of America Securities LLC, Global Debt Advisory Services, at [phone] (U.S. toll-free) and [phone] (collect) and SunTrust Robinson Humphrey, Inc., Debt Advisory Services, at [phone]. Copies of the Offer to Purchase can also be obtained from the information agent, Global Bondholder Services Corporation at [phone] (U.S. toll-free) and [phone] (collect).

This press release shall not constitute an offer to purchase or a solicitation of an offer to purchase with respect to any securities. Any such offer or solicitation will be made only by means of the Offer to Purchase dated June 15, 2009.

About Oxford

Oxford Industries, Inc. is an international apparel design, sourcing and marketing company featuring a diverse portfolio of owned and licensed brands and a collection of private label apparel businesses. Oxford's brands include Tommy Bahama(R), Ben Sherman(R), Arnold Brant(R), Ely & Walker(R) and Oxford Golf(R). The Company also holds exclusive licenses to produce and sell certain product categories under the Kenneth Cole(R), Geoffrey Beene(R) and Dockers(R) labels. Oxford's wholesale customers are found in every major channel of distribution, including national chains, specialty catalogs, mass merchants, department stores, specialty stores and Internet retailers. The Company operates retail stores, restaurants and Internet websites for some of its brands. The Company also has license arrangements with select third parties to produce and sell certain product categories under its Tommy Bahama and/or Ben Sherman brands.

Oxford's stock has traded on the New York Stock Exchange since 1964 under the symbol OXM. For more information, please visit Oxford's website at http://www.oxfordinc.com/.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

This press release may include statements that are forward-looking statements within the meaning of the federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. We intend for all forward-looking statements contained herein or on our website, and all subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf, to be covered by the safe harbor provisions for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Important assumptions relating to these forward-looking statements include, among others, assumptions regarding the duration and severity of the current economic conditions and the impact on consumer demand and spending, access to capital and/or credit markets, particularly in light of recent conditions in those markets, demand for our products, timing of shipments requested by our wholesale customers, expected pricing levels, competitive conditions, the timing and cost of planned capital expenditures, expected synergies in connection with acquisitions and joint ventures, costs of products and raw materials we purchase, expected outcomes of pending or potential litigation and regulatory actions and disciplined execution by key management. Forward-looking statements reflect our current expectations, based on currently available information, and are not guarantees of performance. Although we believe that the expectations reflected in such forward-looking statements are reasonable, these expectations could prove inaccurate as such statements involve risks and uncertainties, many of which are beyond our ability to control or predict. Should one or more of these risks or uncertainties, or other risks or uncertainties not currently known to us or that we currently deem to be immaterial, materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Important factors relating to these risks and uncertainties include, but are not limited to, those described in Part I, Item 1A. Risk Factors contained in our Annual Report on Form 10-K for fiscal 2008 and those described from time to time in our future reports filed with the SEC.

We caution that one should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. We disclaim any intention, obligation or duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Oxford Industries, Inc.

CONTACT: Anne M. Shoemaker, [phone], Fax: [phone],
[e-mail]

Web Site: http://www.oxfordinc.com/