Guess ?, Inc. (NYSE:GES) today refuted all claims made in a widely distributed e-mail sent June 21, 2000 by a Salomon Smith Barney stockbroker summarizing comments attributed to the brokerage firm's apparel and footwear analyst Carol Murray. Salomon Smith Barney does not follow Guess? Inc from a research standpoint.

Maurice Marciano, co-chairman and co-chief exeuctive officer of Guess? Inc, stated: "We refute the negative statements made in the Salomon Smith Barney e-mail concerning Guess? Inc's backlog, management expertise, strength of the Guess brand, future sales and earnings prospects and investment banking."

Specifically, Mr. Marciano said: "As previously reported, Guess? Inc's wholesale backlog as of June 3, 2000 was $152.0 million, a 71% increase from a year ago, which included only orders from external wholesale and specialty store customers. The e-mail claimed that our backlog is inflated because it included products to be shipped to our own retail stores. This statement is completely false because we do not include sales to our own stores in wholesale backlog. In addition, the e-mail stated that Salomon Smith Barney declined investment banking business for Guess. This is an absolute lie. We never considered them for the Company's proposed secondary stock offering even though a Salomon Smith Barney investment banker made repeated phone calls to us attempting to obtain this business."
Mr Marciano concluded, "We are very pleased with our business so far this year. Our brand remains very strong. We are well on target with our plans, and remain comfortable with security analysts' current earnings estimates for the second quarter and the balance of 2000."

Guess? Inc designs, markets, distributes and licenses one of the world's leading lifestyle collections of casual apparel, accessories and related consumer products.

Except for historical information contained herein, certain matters discussed in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties which may cause the Company's actual results in future periods or plans for future periods to differ materially from what is currently anticipated. Those risks include those matters detailed from time to time in the company's SEC reports.