News Release Details

New York, New York - June 1, 2000 -- G-III Apparel Group, Ltd.(Nasdaq: GIII) today announced operating results for the first quarterof fiscal 2001, ended April 30, 2000.

For the quarter, net sales increased to $10.6 million from $8.5million in the prior year’s first quarter. The net loss for thequarter decreased to $2.5 million, or $0.38 per diluted share, from$3.4 million, or $0.51 per diluted share, in the prior year’s quarter.Gross margins for the quarter increased to 20.6% of net sales from 9.8%of net sales in the prior year’s first quarter. Excluding the resultsof BET Design Studio, a joint venture that was discontinued in thethird quarter of fiscal 2000, the Company would have recorded a netloss of $3.2 million, or $0.47 per diluted share, in the prior year’sfirst quarter.

Wayne Miller, Chief Financial Officer of G-III, commented, "TheCompany has made a concerted effort to grow its business whileimproving gross margins and operating results, and I’m pleased to notethat we have succeeded once again, even during our slowest quarter ofthe year. Our focus throughout the year will continue to be oncontinued top and bottom-line growth."

Morris Goldfarb, G-III’s Chief Executive Officer, said, "Webelieve we offer our customers a strong portfolio of products and weare constantly looking to add new licenses to our branded productofferings. We’re excited about the upcoming selling season as in theFall we will be launching the Jones New York menswear collection aswell as the new Cole Haan men’s and women’s collections. We’re alsoencouraged by the strength of our order book for both our licensed andnon-licensed businesses."

Mr. Goldfarb concluded, "I’m extremely proud of the progress thatthe Company has made and we look forward to continued growth, both fromour existing businesses and new product offerings."

G-III Apparel Group is a leading manufacturer and distributor ofleather and non-leather outerwear apparel. The Company has fashionlicenses with Kenneth Cole Productions, Nine West Group, Cole Haan, andJones Apparel Group, a distribution agreement for Caterpillar appareland licensing agreements with the National Football League, NationalHockey League, National Basketball Association, Major League Baseballand more than 20 universities nationwide.

Statements concerning the Company’s business outlook for futureeconomic performance, anticipated revenues, expenses or otherfinancial items; product introductions and plans and objectivesrelated thereto; and statements concerning assumptions made orexpectations as to any future events, conditions, performance or othermatters are "forward-looking statements" as that term is defined underthe Federal Securities laws. Forward-looking statements are subjectto risks, uncertainties and factors include, but are not limited to,reliance on foreign manufacturers, the nature of the apparel industry,including changing customer demand and tastes, seasonally, customeracceptance of new products, the impact of competitive products andpricing, dependence on existing management, general economicconditions, as well as other risks detailed in the Company’s filingswith the Securities and Exchange Commission.

            G-III APPAREL GROUP, LTD. AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF OPERATIONS
          (in thousands, except share and per share amounts)

                                          First Quarter Ended April 30,
                                          -----------------------------
                                                  (Unaudited)

                                                2000          1999
                                              -------       -------
Net sales                                     $10,578       $ 8,470

Cost of sales                                   8,398         7,637
                                              -------       -------
Gross profit                                    2,180           833

Selling, general and administrative expenses    6,302         6,887
                                              -------       -------
Operating loss                                 (4,122)       (6,054)
Interest and financing charges, net                85            98
                                              -------       -------

Loss before minority interest
 and income taxes                              (4,207)       (6,152)

Minority interest                                   9           431
                                              -------       -------
Loss before income taxes                       (4,198)       (5,721)

Income tax benefit                             (1,679)       (2,288)
                                              -------       -------

Net loss                                      $(2,519)      $(3,433)
                                              =======       =======
Net loss per common share:

  Basic and Diluted                            $(0.38)      $ (0.51)
                                              =======       =======

Weighted average number of common
  shares outstanding                        6,614,379     6,717,921

Contact:
Investor Relations
Cheryl Schneider/John Blackwell
Press: Greg Tiberend/Ellen Paz 
(212) 850-5600

G-III Apparel Group, Ltd.
Wayne S. Miller, Chief Financial Officer
(212) 403-0500