Warnaco Issues Notes

On June 12, 2003, Warnaco Inc., a wholly owned subsidiary of New York-headquartered The Warnaco Group, Inc., completed the issuance and sale of US$210 million principal amount of its 8 7/8 per cent senior notes due in 2013 to Citigroup Global Markets Inc., J.P. Morgan Securities, Banc of America Securities LLC, Bear, Stearns & Co. Inc. and Credit Suisse First Boston LLC (the initial purchasers). The notes are guaranteed by The Warnaco Group, and by the domestic subsidiaries of Warnaco Inc., and are priced at 100 per cent of the principal amount.

The Warnaco Group was represented in-house by Jay Galluzzo, vice-president and general counsel; and assisted in Canada by Sharon Druker of Gowling Lafleur Henderson LLP in Montreal, and David Stewart, Q.C., and Maurice Chiasson of Stewart McKelvey Stirling Scales in Halifax; and in the U.S. by Stacy Kanter, Yossi Vebman, Daniel Lurie, Brad Snyder and Peter Serating, and Alan Straus (corporate finance and international business) of Skadden, Arps, Slate, Meagher & Flom LLP in New York. The initial purchasers were represented by David Lefkowitz, Brian Korn and Peter Belk of Weil, Gotshal & Manges LLP in New York.