The Jones Group Acquires Kurt Geiger

NEW YORK and LONDON, June 2, 2011 -

- Creates One of the World's Most Powerful Portfolios of Fashion
Footwear

- Strengthens Jones' International Position with Enhanced Presence
in Europe

- Jones to Host Investor Call at 8:30 AM ET / 1:30 PM London time

The Jones Group Inc. ("Jones" or the "Company") (NYSE: JNY) today
announced that it has acquired Kurt Geiger, Europe's largest luxury shoe
retailer based in the United Kingdom, from Graphite Capital, a leading UK
mid-market private equity firm, for approximately $350 million (or 215
million pounds Sterling) in cash, inclusive of debt acquired. The
transaction, which was financed with cash on hand, is expected to be
immediately accretive to earnings per share, exclusive of any required
purchase accounting adjustments.

The acquisition of Kurt Geiger positions Jones as one of the world's most
powerful portfolios of fashion footwear, immediately increasing its
international penetration to just below 20 percent of net revenues. In
addition, this acquisition further extends Jones' reach into the designer
footwear business through Kurt Geiger's portfolio of high-end brands and
presence in leading department stores, such as Harrods and Selfridges. Kurt
Geiger will serve as Jones' hub in Europe. Jones believes there are exciting
opportunities to optimize the portfolios' existing and new brands. The
Company expects to achieve significant revenue synergies by leveraging the
combined networks of partners, infrastructure and strong department store
relationships to expand product distribution worldwide. On a trailing
12-month basis ended April 30, 2011, Kurt Geiger realized net revenues of
approximately $332 million (or approximately 205 million pounds).

The Kurt Geiger management team remains fully committed to the growth of
the business. Neil Clifford will continue as Chief Executive Officer, and
will continue to lead the Kurt Geiger management team; Rebecca Farrar Hockley
will remain Buying and Creative Director; and Dale Christilaw will continue
as Finance Director for the Kurt Geiger team.

Wesley R. Card, The Jones Group Chief Executive Officer, stated: "This
transaction is about pursuing opportunities to optimize our portfolio and
establishing a strong foothold in Europe. The addition of Kurt Geiger to
Jones is consistent with our strategy of identifying companies with
best-in-class talent and proven brands that have the potential for
substantial growth. We have the utmost respect for Neil and have gotten to
know the team well over the years as our distribution partner for Nine West
in the UK. We welcome them to Jones."

Richard Dickson, The Jones Group President and Chief Executive Officer of
Branded Businesses, stated: "Our mission is to build the most powerful
portfolio of brands in fashion. As part of our framework for growth, we are
optimizing our existing portfolio and launching new brands to create value.
Kurt Geiger's portfolio of premier footwear, exceptional brand management and
best-in-class product expertise makes it an ideal complement to our business
and long-term goals. By leveraging our deep retail networks worldwide, there
is substantial opportunity to grow Jones' revenue base internationally and to
introduce Kurt Geiger's brands to the U.S. We look forward to collaborating
with Kurt Geiger's leading design and merchant talents, who will be
instrumental to the rollout of our mission."

Kurt Geiger distributes owned brands, including Kurt Geiger, Carvela and
KG, and licensed brands, including Nine West, French Connection and Lipsy, in
49 company-operated retail locations and department stores. In addition, Kurt
Geiger operates 156 multi-branded shoe concessions in 14 major department
store groups including Harrods, Selfridges, House of Fraser and La
Rinascente, working with over 100 brand partners to deliver the best
selection of the world's most reputable brands. Since its management buyout
in 2008 (backed by Graphite Capital), Kurt Geiger's strategy of investment
and brand growth has led to increases in revenues and profits, in addition to
the doubling of the number of Kurt Geiger stores to 60. Kurt Geiger continues
to drive global expansion and has already established a substantial presence
in the Middle East, including stores across Dubai, Bahrain and Qatar, Russia
and Turkey.

Neil Clifford, Kurt Geiger Chief Executive Officer, stated: "Kurt Geiger
has experienced exceptional growth over the last five years via the expansion
of the core business and commitment to increasing our global presence. Kurt
Geiger is still relatively young in terms of growth profile, with great
potential still to be fulfilled. We have developed a strong relationship with
Jones and recognize it as an established designer, retailer and wholesaler in
the U.S. Jones has a clear track record of supporting and growing its brands,
and we are confident that we have found the right strategic partner to help
evolve our business. We look forward to leveraging our global infrastructures
to bring the Kurt Geiger and The Jones Group brands to more audiences
worldwide."

The financial adviser to The Jones Group was Citi.

Investor Conference Call

The Company will host a conference call today with management to discuss
the announcement at 8:30 a.m. eastern time (1:30 p.m. London time), which is
accessible by dialing +1-412-858-4600 (United States and international), or
through a web cast at www.jonesgroupinc.com/ (under Investor
Relations/Conference Schedule). The call will be recorded and made available
through June 10, 2011 and may be accessed by dialing +1-412-317-0088 (United
States and international) and entering account number 451399. A slide
presentation will accompany the prepared remarks and has been posted with the
webcast on the Company's website.

About The Jones Group Inc.

The Jones Group Inc. (www.jonesgroupinc.com) is a leading global
designer, marketer and wholesaler of over 35 brands with best-in-class
product expertise across five divisions: apparel, footwear, jeanswear,
jewelry and handbags. The Jones Group has a reputation for innovation,
excellence in product quality and value, operational execution and talent.
The Company also markets directly to consumers through branded specialty
retail and outlet stores and through its e-commerce sites.

The Company's nationally recognized brands and licensing agreements (L)
include: Nine West, Jones New York, Anne Klein, Rachel Roy (L), Robert
Rodriguez, Robbi & Nikki, Stuart Weitzman, B Brian Atwood (L), Boutique 9,
Easy Spirit, Gloria Vanderbilt, l.e.i., Bandolino, Enzo Angiolini, Nine &
Co., GLO, Joan & David, Jones Wear, Andrew Marc/Marc Moto (L), Kasper,
Energie, Evan-Picone, Le Suit, Mootsies Tootsies, Grane, Erika, Napier,
Jessica Simpson (L), Dockers (L), Sam & Libby, Givenchy (L), Judith Jack,
Albert Nipon and Pappagallo.

About Kurt Geiger

Kurt Geiger is Europe's largest luxury shoe retailer and has four own
label brands - Kurt Geiger, KG by Kurt Geiger, Carvela, and Miss KG - and
over 100 luxury brands in its portfolio.

The company has over 200 trading locations with over 156 concessions in
Europe's leading department stores, including Harrods, Selfridges, Liberty,
House of Fraser, Fenwick John Lewis and Brown Thomas as well as 49
company-operated stores. It is also the chosen footwear partner of BAA in UK
airports. In September 2005, Kurt Geiger achieved its first international
move with a concession in Printemps, Paris followed by being chosen as the
strategic footwear partner for La Rinascente store group in Italy. 2007 saw
the company sign its first licensing deals with French Connection followed by
Lipsy.

In 2008 Kurt Geiger entered into a franchise partnership with Landmark
International to open stores across the Gulf region. Franchise partnerships
have subsequently been entered into in Russia and Turkey.

Since the 2008 management buy-out by Graphite Capital, Kurt Geiger's
strategy of international investment, its focus on own brand stores and its
market-leading retail distribution network has successfully led to robust
growth in revenues and profits.

About Graphite Capital

Graphite is a specialist provider of private equity finance to mid-market
companies in the UK. Graphite focuses on management buy-outs and buy-ins,
expansion capital, replacement capital and turnaround opportunities. Graphite
manages more than 1.2 billion pounds through three private funds and the
publicly-quoted Graphite Enterprise Trust PLC. More information about
Graphite Capital is available at www.graphitecapital.com.

Forward Looking Statements

Certain statements contained herein are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
All statements regarding the Company's expected financial position, business
and financing plans are forward-looking statements. The words "believes,"
"expects," "plans," "intends," "anticipates" and similar expressions identify
forward-looking statements. Forward-looking statements also include
representations of the Company's expectations or beliefs concerning future
events that involve risks and uncertainties, including:

    - those associated with the effect of national, regional and
      international economic conditions;
    - lowered levels of consumer spending resulting from a general
      economic downturn or lower levels of consumer confidence;
    - the tightening of the credit markets and the Company's ability to
      obtain capital on satisfactory terms;
    - given the uncertain economic environment, the possible
      unwillingness of committed lenders to meet their obligations to lend to
      borrowers, in general;
    - the performance of the Company's products within the prevailing
      retail environment;
    - customer acceptance of both new designs and newly-introduced
      product lines;
    - the Company's reliance on a few department store groups for large
      portions of the Company's business;
    - the Company's ability to identify acquisition candidates and, in
      a competitive environment for such acquisitions, acquire such
      businesses on reasonable financial and other terms;
    - the integration of the organizations and operations of any
      acquired businesses into the Company's existing organization and
      operations;
    - consolidation of the Company's retail customers;
    - financial difficulties encountered by the Company's customers;
    - the effects of vigorous competition in the markets in which the
      Company operates;
    - the Company's ability to attract and retain qualified executives
      and other key personnel;
    - the Company's reliance on independent foreign manufacturers,
      including political instability in countries where contractors and
      suppliers are located;
    - changes in the costs of raw materials, labor, advertising and
      transportation;
    - the general inability to obtain higher wholesale prices for the
      Company's products that the Company has experienced for many years;
    - the Company's ability to successfully implement new operational
      and financial computer systems; and
    - the Company's ability to secure and protect trademarks and other
      intellectual property rights.

A further description of these risks and uncertainties and other
important factors that could cause actual results to differ materially from
the Company's expectations can be found in the Company's Annual Report on
Form 10-K for the year ended December 31, 2010, including, but not limited
to, the Statement Regarding Forward-Looking Disclosure and Item 1A-Risk
Factors therein, and in the Company's other filings with the Securities and
Exchange Commission. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, such
expectations may prove to be incorrect. The Company does not undertake to
publicly update or revise its forward-looking statements as a result of new
information, future events or otherwise.

For The Jones Group Inc., Investors, John T. McClain, Chief Financial Officer, The Jones Group, +1-212-642-3860; Media, Joele Frank and Sharon Stern, Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449; For Kurt Geiger, Media, James Henderson or Victoria Geoghegan or Rosanne Perry, Pelham Bell Pottinger, +44-(0)20-7861-3232; For Graphite Capital, Caroline Cecil, Caroline Cecil Associates, +44-(0)20-7610-4110