Candie's Inc. Announces Addition to Its Board of Directors; Candie's Appoints Peter Siris to Its Board of Directors; Mr. Siris Will Also Serve On the Board's Audit Committee.

Business Editors

PURCHASE, N.Y.--(BUSINESS WIRE)--March 30, 2000

Candie's, Inc. (Nasdaq NMS symbol: CAND) ("the Company") today announced the appointment of Peter Siris to its Board of Directors. Mr. Siris will also serve on the Board's Audit Committee.

Peter Siris has broad based industry experience spanning 25 years that has enabled him to gain in-depth knowledge of the apparel and retail industries. Mr. Siris' related industry experience, includes serving as Senior Vice President of Warnaco and Director of Investor Relations of Authentic Fitness, as Executive Vice President and Director of Sirco International Corporation, a publicly-owned manufacturer of fashion accessories, and running a trading company in the People's Republic of China, which is the subject of his novel "The Peking Mandate." His financial background includes serving as President of MERIC, Inc., an investment banking company, and Urban Innovations, a venture capital company. Mr. Siris was also an equity analyst covering retail, apparel, and Internet commerce stocks, serving as Managing Director of UBS Securities, Executive Vice President and Director of Buckingham Research, and Senior Vice President of ABN-Amro. Mr. Siris is currently the Managing Director of Guerrilla Capital Management. He is also the author of the best selling book "Guerrilla Investing," and is a columnist for "The New York Daily News." Mr. Siris serves as a Director of Crown American Real Estate Investment Trust, Santa Fe Gaming, and E-Save Networks. Mr. Siris received a B.A. with Honors from Brandeis University and an MBA with Distinction from the Harvard Graduate School of Business Administration.

Commenting on the announcement, Neil Cole, Chairman and Chief Executive Officer stated, "We are delighted to have Peter Siris join our Board. His extensive background and knowledge in the apparel and retail industries coupled with his expertise in finance and investment banking will be of great value to the Company, as we execute our plan to develop Candie's into a lifestyle brand by focusing on footwear and expanding our licensing, retail, and Internet initiatives".

Peter Siris, added, "I am excited to join the Board of Candie's Inc., as I believe the Company has great potential to become a dominant supplier to gen y. I have known Neil Cole for many years and I look forward to helping him achieve the Company's goals and objectives."

Candie's is a leading designer and marketer of young women's footwear, apparel and accessories. The Company distributes its products through better department and specialty stores nationwide, as well as through seven company-owned stores and specialty stores internationally. Candie's Inc. also owns and markets footwear, accessories and apparel under the Bongo trademark. Candie's also arranges for the manufacture of footwear products for mass market and discount retailers under the private label brand of the retailer or other trademarks owned or licensed by Candie's. Additionally, the Candie's brand is licensed to Liz Claiborne Inc. for the manufacture, sale and distribution of fragrances and cosmetics. Candie's Inc. operates www.candies.com, a leading community for teens on the web. For investor information please visit the corporate web site at www.candiesinc.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. The statements which are not historical facts contained in this press release are forward looking statements that involve a number of known and unknown risks, uncertainties and other factors all of which are difficult or impossible to predict and many of which are beyond the control of the Company, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, uncertainty regarding continued market acceptance of current products and the ability to successfully develop and market new products particularly in light of rapidly changing fashion trends, the impact of supply and manufacturing constraints or difficulties relating to the Company's dependence on foreign manufacturers, uncertainties relating to customer plans and commitments, competition, uncertainties relating to economic conditions in the markets in which the Company operates, the ability to hire and retain key personnel, the ability to obtain capital if required, the risks of litigation, the risks of uncertainty of trademark protection, Year 2000 compliance, the uncertainty of marketing and licensing the trademarks acquired during fiscal 1999 and other risks detailed and in the Company's Securities and Exchange Commission filings, and uncertainty associated with the impact on the Company in relation to recent events discussed in the Company's Form 10-K for fiscal 1999. The words "believe", "expect", "anticipate", "seek" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date the statement, was made.