Los Angeles, CA, October 31, 2001 -- Guess?, Inc. (NYSE:GES) today announced the appointment of Frederick G. Silny as Senior Vice President and Chief Financial Officer, reporting to Carlos Alberini, the Company's President and Chief Operating Officer, effective November 12, 2001. Mr. Silny, 51, is a seasoned financial executive with more than 20 years of experience in both established and entrepreneurial businesses across a range of consumer-oriented industries.

Mr. Silny joins the Company from CarsDirect.com, Inc., where he has been Chief Financial Officer and Corporate Secretary since 1999 and a member of the team that created this Internet retailer, now one of the largest new car dealers in the U.S. with annual revenues of over $400 million. Prior to that, he spent 10 years at IHOP Corp., the parent company of a leading chain of family restaurants, serving as Chief Financial Officer, Vice President-Finance and Treasurer. Mr. Silny was part of the group that took this company public in 1991 and built a business with sales of $1.2 billion and over 900 restaurants. Between 1979 and 1989, Mr. Silny held a variety of financial and operational positions with Carnation Company, now a division of Nestle, and from 1982-1984, he headed international treasury for Litton Industries, Inc., a $5 billion multinational corporation. He began his career as a Certified Public Accountant with Coopers & Lybrand in 1976.

Mr. Alberini commented, “Fred Silny is an excellent addition to our management team. He brings expertise in all aspects of financial planning and management, from accounting, budgeting and cost control to treasury and capital markets, project management and investor relations. We expect Fred to play a valuable role in continuing the progress we have made in instilling new financial controls and discipline, while maintaining a strict focus on cost control. We welcome his leadership and insights as we continue to take actions to increase profitability, grow our business and build shareholder value.”

Mr. Silny added, “Guess? is among the best known fashion brands in the world, and I look forward to being a part of the team that will take the Company to its next level of profitability and growth.”

Mr. Silny holds a Masters of Business Administration from the University of Chicago, Masters degrees in Statistics and Psychology from the University of California at Berkeley, and a Bachelors degree from McGill University.

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