Steven Madden, Ltd (Nasdaq: SHOO), a designer, wholesaler and marketer of fashion footwear for women, men, and children, today announced its outlook for fiscal 2001.

The company expects fiscal 2001 annual earnings per diluted share to be in the range of $1.45 - $1.50, which will be driven primarily by a net sales increase between 16 per cent to 20 per cent over fiscal 2000. It is important to note that these are the company's targets, not predications of actual performance. This outlook is based on currently known information and assumes no significant changes in general economic trends, consumer confidence, or any other risk factors that may affect forward looking statements.

The company's store expansion plan for this year remains on target, and during the fourth quarter 2000 one new store will be added. The company will end fiscal 2000 with 65 stores in operation, a net increase of 16 stores over 1999. During fiscal 2001, the company plans to open approximately 10 new stores.

Arvind Dharia, CFO said: "We are extremely pleased with our year-to-date performance and are comfortable with the current analyst consensus estimate for fiscal 2000. Looking ahead, we are optimistic about continued growth in fiscal 2001."

About Steve Madden Ltd
Steven Madden, Ltd designs and markets footwear for women, men, and children. The shoes are sold through Steve Madden Retail Stores, department stores, apparel and footwear specialty stores, and online at www.stevemadden.com and www.stevies.com.