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<SEC-DOCUMENT>0000950123-09-070891.txt : 20091215
<SEC-HEADER>0000950123-09-070891.hdr.sgml : 20091215
<ACCEPTANCE-DATETIME>20091215162133
ACCESSION NUMBER:		0000950123-09-070891
CONFORMED SUBMISSION TYPE:	424B2
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20091215
DATE AS OF CHANGE:		20091215

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			G III APPAREL GROUP LTD /DE/
		CENTRAL INDEX KEY:			0000821002
		STANDARD INDUSTRIAL CLASSIFICATION:	APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300]
		IRS NUMBER:				411590959
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		424B2
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-162675
		FILM NUMBER:		091241971

	BUSINESS ADDRESS:	
		STREET 1:		512 SEVENTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		2126298830

	MAIL ADDRESS:	
		STREET 1:		512 SEVENTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ANTE CORP
		DATE OF NAME CHANGE:	19891120
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B2
<SEQUENCE>1
<FILENAME>y02712b2e424b2.htm
<DESCRIPTION>424B2
<TEXT>
<HTML>
<HEAD>
<TITLE>e424b2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE style="color: #FF0000" width="100%" border="1" cellpadding="5"><TR><TD>
<FONT style="font-size: 8pt; font-family: Arial, Helvetica; color: #E8112D">The
information in this prospectus supplement and the accompanying
prospectus is not complete and may be changed. This prospectus
supplement and the accompanying prospectus are not an offer to
sell these securities and are not soliciting an offer to buy
these securities in any jurisdiction where the offer or sale is
not permitted.<BR>
</FONT>
</TD></TR></TABLE>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Filed
    Pursuant to Rule&#160;424(b)(2)</FONT></B>
</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B>Registration Statement
    <FONT style="white-space: nowrap">No.&#160;333-162675</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times; color: #E8112D">SUBJECT
    TO COMPLETION, DATED DECEMBER&#160;15, 2009</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B>PROSPECTUS SUPPLEMENT</B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B>(To Prospectus dated November 2, 2009)</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><FONT style="font-size: 14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Shares</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <IMG src="y02712b2y0271202.gif" alt="(COMPANY LOGO)"><B><FONT style="font-size: 14pt">
    </FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><FONT style="font-size: 14pt">Common Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><FONT style="font-size: 14pt">$&#160;&#160;&#160;&#160;&#160;
    per share</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    G-III Apparel Group, Ltd. is
    offering&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of common stock.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The last reported sale price of our common stock on
    December&#160;14, 2009 was $21.86 per share.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Trading symbol: Nasdaq Global Select Market&#160;&#151; GIII
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #3F6075"></CENTER><!-- callerid=999 iwidth=456 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 5%; font-size: 12pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B>This investment involves risk. See &#147;Risk Factors&#148;
    beginning on
    <FONT style="white-space: nowrap">page&#160;S-5</FONT>
    of this prospectus supplement.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="81%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Per Share</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Total</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Public offering price
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Underwriting discount
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Proceeds, before expenses, to G-III Apparel Group, Ltd.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>The underwriters have a
    <FONT style="white-space: nowrap">30-day</FONT>
    option to purchase up
    to&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    additional shares of common stock from us to cover
    over-allotments, if any.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The underwriters expect to deliver the shares against payment on
    or about December&#160;&#160;&#160;, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B>Neither the Securities and Exchange Commission nor any state
    securities commission has approved of anyone&#146;s investment
    in these securities or determined if this prospectus supplement
    and the accompanying prospectus are truthful or complete. Any
    representation to the contrary is a criminal offense.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><I><FONT style="font-size: 8pt">Sole Book-Running
    Manager</FONT></I></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><FONT style="font-size: 18pt">Piper Jaffray</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #3F6075"></CENTER><!-- callerid=999 iwidth=456 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><I><FONT style="font-size: 8pt">Co-Lead Manager</FONT></I></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><FONT style="font-size: 18pt">Lazard Capital
    Markets</FONT></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

<TR>
    <TD width="50%"></TD>
    <TD width="50%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">    <B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">Brean
    Murray, Carret&#160;&#038; Co.</FONT></B></TD>
    <TD nowrap align="right">    <B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">
    KeyBanc Capital Markets</FONT></B></TD>
</TR>

</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The date of this prospectus supplement is
    December&#160;&#160;&#160;, 2009.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">TABLE OF
    CONTENTS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B>Prospectus Supplement</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left">
<!-- TOC -->
</DIV>

<DIV align="left">
<A name="tocpage"></A>
</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="95%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Page</FONT></B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#601'>Summary</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    S-1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#602'>Risk Factors</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    S-5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#603'>Special Note Regarding Forward-Looking
    Statements</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    S-14
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#604'>Use of Proceeds</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    S-14
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#605'>Price Range of Common Stock</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    S-14
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#606'>Capitalization</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    S-15
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#607'>Underwriting</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    S-16
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#608'>Legal Matters</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    S-19
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#609'>Experts</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    S-19
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#610'>Where You Can Find More Information</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    S-19
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#611'>Incorporation by Reference</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    S-19
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD colspan="5">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" align="center" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Prospectus</B>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#101'>About This Prospectus</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#102'>About G-III Apparel Group, Ltd</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#103'>Risk Factors</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#104'>Forward-Looking Statements</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#105'>Ratios of Earnings to Fixed Charges and Ratios of
    Earnings to Combined Fixed Charges and Preferred Stock
    Dividends</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#106'>Dividend Policy</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#107'>Use of Proceeds</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#108'>The Securities We May Offer</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#109'>Description of Capital Stock</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#110'>Description of Debt Securities</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#111'>Description of Warrants</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#112'>Description of Rights</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#113'>Plan of Distribution</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#114'>Experts</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#115'>Legal Matters</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#116'>Where You Can Find More Information</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#117'>Incorporation of Certain Documents By
    Reference</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    This document consists of two parts: this prospectus supplement
    and the accompanying prospectus. The accompanying prospectus is
    part of a registration statement that we filed with the
    Securities and Exchange Commission using a &#147;shelf&#148;
    registration process. Under the shelf registration process, we
    may sell the securities described in the accompanying prospectus
    in one or more offerings. This prospectus supplement describes
    the specific terms of this common stock offering and adds,
    updates and changes information contained in the accompanying
    prospectus. To the extent inconsistent, information in this
    prospectus supplement supersedes information in the accompanying
    prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B>You should rely only on the information contained in or
    incorporated by reference into this prospectus supplement, the
    accompanying prospectus and any &#147;free writing
    prospectus&#148; we may authorize to be delivered to you. We
    have not, and the underwriters have not, authorized any other
    person to provide you with different information. This
    prospectus supplement and the accompanying prospectus are not an
    offer to sell, nor are they seeking an offer to buy, these
    securities in any jurisdiction where the offer or sale is not
    permitted. You should not assume that information appearing in
    this prospectus supplement, the accompanying prospectus or the
    documents incorporated by reference herein or therein is
    accurate as of any date other than their respective dates.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    In this prospectus supplement, &#147;G-III,&#148;
    &#147;we,&#148; &#147;us,&#148; and &#147;our&#148; refer to
    G-III Apparel Group, Ltd., a Delaware corporation, together with
    its subsidiaries. References to fiscal years refer to the year
    ended or ending on January 31 of that year. For example, our
    fiscal year ended January&#160;31, 2009 is referred to as
    &#147;fiscal 2009.&#148;
</DIV>
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</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="width: 100%; height: 9in; border-top: 1px solid #3F6075; padding-top: 12pt; border-right: 1px solid #3F6075; padding-right: 12pt; border-bottom: 1px solid #3F6075; padding-bottom: 12pt; border-left: 1px solid #3F6075; padding-left: 12pt"><!-- Begin box 1 -->

<A name='601'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SUMMARY</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>The following summary is qualified in its entirety by the
    more detailed information included elsewhere in this prospectus
    supplement and the accompanying prospectus. Because this is a
    summary, it may not contain all the information that may be
    important to you. Before deciding whether to invest in our
    common stock, you should read the entire prospectus supplement
    and the accompanying prospectus carefully, including the risks
    of investing in our common stock that we describe under
    &#147;Risk Factors,&#148; our financial statements and the
    related notes, and the other information included in the
    documents incorporated herein by reference.</I>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Business
    of G-III Apparel Group, Ltd.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    G-III designs, manufactures and markets an extensive range of
    outerwear, sportswear and accessories, including coats, jackets
    and pants, as well as women&#146;s suits and dresses. We sell
    our products under licensed brands, our own proprietary brands
    and private retail labels. We provide high quality apparel under
    recognized brands to a cross section of leading retailers such
    as Macy&#146;s, Bloomingdale&#146;s, Nordstrom, JC Penney and
    Kohl&#146;s. We also operate 121 retail stores, of which 119 are
    outlet stores operated under the Wilsons Leather name. We
    distribute our products through a diverse mix and a large number
    of retailers at a variety of price points, as well as through
    our own retail stores.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We have expanded our portfolio of licensed and proprietary
    brands over the past 15&#160;years through acquisitions and by
    entering into license agreements for new brands or for
    additional products under previously licensed brands.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Selling products under well-known licensed brands is an
    important part of our strategy. We have licenses to produce
    branded fashion apparel, including under the Calvin Klein, Sean
    John, Kenneth Cole, Cole Haan, Guess?, Jones New York, Jessica
    Simpson, Nine West, Ellen Tracy, Tommy Hilfiger, Enyce,
    Levi&#146;s and Dockers brands. We also have sports licenses
    with the National Football League, National Basketball
    Association, Major League Baseball, National Hockey League,
    Touch by Alyssa Milano and more than 100 U.S.&#160;colleges and
    universities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    G-III sells outerwear and handbags under our own Andrew Marc and
    Marc New York brands and has licensed these brands for
    women&#146;s footwear, men&#146;s accessories, women&#146;s
    handbags and men&#146;s cold weather accessories. Our other
    owned brands include Marvin Richards, G-III, Jessica Howard,
    Eliza J., Black Rivet, Siena Studio, Tannery West, G-III by Carl
    Banks and Winlit. We also work with a diversified group of
    retailers, such as Macy&#146;s, JC Penney and Kohl&#146;s, in
    developing private label product lines.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We have made five acquisitions since July 2005, which have
    helped to broaden our product offerings, expand our ability to
    serve different tiers of distribution and add a retail component
    to our business. Our acquisitions are part of our strategy to
    expand our product offerings and increase the portfolio of
    proprietary and licensed brands that we offer through different
    tiers of retail distribution. We believe that our two most
    recent acquisitions completed in 2008, of Andrew Marc and the
    Wilsons retail outlet business, leverage our core strength in
    outerwear and provide us with new avenues for growth. We also
    believe that these acquisitions complement our other licensed
    brands, G-III owned brands and private label programs.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Recent
    Initiatives</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We are continually seeking opportunities to produce products for
    all seasons as we attempt to reduce our dependency on our third
    fiscal quarter for the majority of our net sales and
    substantially all of our net income. We have initiated the
    following diversification efforts:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

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<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    We have continually expanded our relationship with Calvin Klein,
    which initially consisted of licenses for men&#146;s and
    women&#146;s outerwear. Since August 2005, we have added
    licenses for women&#146;s suits, dresses and women&#146;s
    performance wear. Most recently, in August 2008, we added a
    license with Calvin Klein for women&#146;s better sportswear.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our acquisition of Andrew Marc added a strong proprietary brand
    to our portfolio. In addition to men&#146;s and women&#146;s
    outerwear, Andrew Marc sells handbags. We believe the Andrew
    Marc brand can be
</TD>
</TR>
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    <BR>
    S-1
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #3F6075; padding-top: 12pt; border-right: 1px solid #3F6075; padding-right: 12pt; border-bottom: 1px solid #3F6075; padding-bottom: 12pt; border-left: 1px solid #3F6075; padding-left: 12pt"><!-- Begin box 1 -->
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    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    leveraged into a variety of new categories to become a
    meaningful lifestyle brand. We have entered into agreements to
    license the Andrew Marc and Marc New York brands for
    women&#146;s footwear, men&#146;s accessories, women&#146;s
    handbags and men&#146;s cold weather accessories.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our acquisition of the Wilsons retail outlet business added a
    vertical retail component to our business. These outlet stores
    have provided an additional distribution network for our
    outerwear products.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Competitive
    Strengths</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We intend to capitalize on the following competitive strengths:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Broad portfolio of recognized brands.</I>&#160;&#160;We have
    built a broad and deep portfolio of over 30 licensed and
    proprietary brands. We believe we are a licensee of choice for
    well-known brands that have built a loyal following of both
    fashion-conscious consumers and retailers who desire high
    quality, well designed apparel. We have selectively added the
    licensing rights to premier brands in women&#146;s, men&#146;s
    and sports categories catering to a wide range of customers. In
    addition to our licensed brands, we own several successful
    proprietary brands, including Andrew Marc and Marc New York. Our
    experience in developing and acquiring licensed brands and
    proprietary labels, as well as our reputation for producing high
    quality, well-designed apparel, has led major department stores
    and retailers, including Macy&#146;s, JC Penney and Kohl&#146;s,
    to select us as a designer and manufacturer for their private
    label programs.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Diversified distribution base.</I>&#160;&#160;We market our
    products at multiple price points and across multiple channels
    of distribution, allowing us to provide products to a broad
    range of consumers, while reducing our reliance on any one
    demographic segment, merchandise preference or distribution
    channel. Our products are sold to approximately 2,500 customers,
    including a cross section of leading retailers such as
    Macy&#146;s, Bloomingdale&#146;s, Nordstrom, JC Penney and
    Kohl&#146;s, and membership clubs such as Costco and Sam&#146;s
    Club. Our Wilsons retail outlet stores provide an additional
    distribution network for our outerwear products.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Superior design, sourcing and quality
    control.</I>&#160;&#160;Our in-house design and merchandising
    team designs substantially all of our licensed, proprietary and
    private label products. Our designers work closely with our
    licensors and private label customers to create designs and
    styles that represent the look they want. We believe that our
    creative design team and our sourcing expertise give us an
    advantage in product development. We believe we have developed a
    significant customer following and positive reputation in the
    industry as a result of our design capabilities, sourcing
    expertise, on-time delivery and high standards of quality
    control.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Leadership position in the outerwear wholesale
    business</I>.&#160;&#160;As one of the largest outerwear
    wholesalers, we are widely recognized within the apparel
    industry for our high-quality and well-designed products. We
    believe that our acquisition of Andrew Marc reinforces our
    leadership position in the outerwear business. Our expertise and
    reputation in designing, manufacturing and marketing outerwear
    have enabled us to build strong customer and licensor
    relationships and to expand into women&#146;s suits, dresses and
    other product categories.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Experienced management team.</I>&#160;&#160;Our executive
    management team has extensive experience in the apparel
    industry. Morris Goldfarb, our Chief Executive Officer, has been
    with us for 35&#160;years. Sammy Aaron, our Vice Chairman who
    joined us in 2005 when we acquired Marvin Richards, has more
    than 25&#160;years experience in the apparel industry. Jeanette
    Nostra, our President, has been with us for over 25&#160;years,
    and Wayne S. Miller, our Chief Operating Officer, has been with
    us for over ten years. In addition, David Winn, who heads up our
    Winlit division that was acquired in 2005, has more than
    25&#160;years experience in the apparel industry.
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    S-2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #3F6075; padding-top: 12pt; border-right: 1px solid #3F6075; padding-right: 12pt; border-bottom: 1px solid #3F6075; padding-bottom: 12pt; border-left: 1px solid #3F6075; padding-left: 12pt"><!-- Begin box 1 -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Growth
    Strategy</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Our goal is to build an all-season diversified apparel company
    with a broad portfolio of brands that we offer in multiple
    channels of retail distribution through the following growth
    strategies:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Execute new initiatives.</I>&#160;&#160;We are continually
    seeking opportunities to produce products for all seasons as we
    attempt to reduce our dependency on our third fiscal quarter for
    the majority of our net sales and substantially all of our net
    income.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Continue to grow our outerwear business.</I>&#160;&#160;We
    have been a leader in the outerwear business for many years and
    believe there is significant growth potential for us in this
    category. Specifically, our Calvin Klein men&#146;s and
    women&#146;s outerwear businesses benefit from Calvin
    Klein&#146;s strong brand awareness and loyalty among consumers.
    Our acquisition of Andrew Marc added two well known proprietary
    brands in the men&#146;s and women&#146;s outerwear market, as
    well as licenses for men&#146;s and women&#146;s outerwear under
    the Levi&#146;s and Dockers brands.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Extend our new product categories to additional
    brands</I>.&#160;&#160;We have been able to leverage our
    expertise and experience in the outerwear business to expand our
    licenses to new product categories such as women&#146;s suits,
    dresses and sportswear. Most recently, we added licenses for
    Calvin Klein women&#146;s performance wear and women&#146;s
    better sportswear. We will attempt to expand our distribution of
    products in these and other categories under licensed brands,
    our own brands and private label brands.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Seek attractive acquisitions.</I>&#160;&#160;We plan to
    continue to pursue acquisitions of complementary product lines
    and businesses, which could include wholesale and retail
    opportunities. Our acquisitions have increased our portfolio of
    licensed and proprietary brands, allowed us to realize economies
    of scale and added a retail component to our business. We
    believe that our existing infrastructure and management depth
    will enable us to complete additional acquisitions in the
    apparel industry.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Recent
    Developments</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    For the three months ended October&#160;31, 2009, net sales
    increased by 3.4% to $363.5&#160;million from
    $351.6&#160;million in the same quarter of last year. Net income
    for the three months ended October&#160;31, 2009 increased by
    12.2% to $32.3&#160;million, or $1.87 per diluted share,
    compared to $28.8&#160;million, or $1.68 per diluted share, in
    the prior year&#146;s period.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    For the nine months ended October&#160;31, 2009, net sales
    increased by 12.3% to $607.0&#160;million from
    $540.5&#160;million in the same period last year. Net income for
    the nine months ended October&#160;31, 2009 increased by 25.5%
    to $22.7&#160;million, or $1.33 per diluted share, compared to
    $18.1&#160;million, or $1.07 per diluted share, in the same
    period last year.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    A table summarizing financial results follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="57%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Three Months Ended</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Nine Months Ended</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="color: #3F6075">Oct.&#160;31,<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="color: #3F6075">Oct.&#160;31,<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="color: #3F6075">Oct.&#160;31,<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="color: #3F6075">Oct.&#160;31,<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">2008</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">2009</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">2008</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">2009</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B><FONT style="color: #3F6075">(In thousands, except share and
    per share amounts)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net sales
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    351,599
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    363,540
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    540,458
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    607,029
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating profit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    51,682
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    57,587
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35,058
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    28,836
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    32,303
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18,096
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    22,708
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income per share:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.74
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.93
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.36
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.68
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.87
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.07
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.33
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Weighted average shares outstanding:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,526
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,770
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,507
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,740
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,160
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,238
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,990
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,011
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV>
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    <BR>
    S-3
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #3F6075; padding-top: 12pt; border-right: 1px solid #3F6075; padding-right: 12pt; border-bottom: 1px solid #3F6075; padding-bottom: 12pt; border-left: 1px solid #3F6075; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Corporate
    Background</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We are a Delaware corporation that was formed in 1989. We and
    our predecessors have conducted our business since 1974. Our
    executive offices are located at 512 Seventh Avenue, New York,
    New York 10018 and our telephone number is
    <FONT style="white-space: nowrap">(212)&#160;403-0500.</FONT>
    Our website is
    <FONT style="white-space: nowrap">http://www.g-iii.com.</FONT>
    The information on our website is not part of this prospectus
    supplement or the accompanying prospectus.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">The
    Offering</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

<TR>
    <TD width="36%"></TD>
    <TD width="1%"></TD>
    <TD width="63%"></TD>
</TR>

<TR>
    <TD valign="top">
    Common stock offered</TD>
    <TD></TD>
    <TD valign="bottom">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Common stock outstanding after this offering</TD>
    <TD></TD>
    <TD valign="bottom">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Use of proceeds</TD>
    <TD></TD>
    <TD valign="bottom">
    We expect to use the net proceeds of this offering for general
    corporate purposes to support the growth of our business. The
    net proceeds may also be used to acquire complementary product
    lines or businesses. Although we regularly investigate possible
    acquisitions, we have no existing commitments or agreements with
    respect to any particular acquisition.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Nasdaq Global Select Market symbol</TD>
    <TD></TD>
    <TD valign="bottom">
    GIII</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Risk factors</TD>
    <TD></TD>
    <TD valign="bottom">
    See &#147;Risk Factors&#148; beginning on
    <FONT style="white-space: nowrap">page&#160;S-5</FONT>
    of this prospectus supplement for a discussion of factors you
    should consider carefully before deciding whether to invest in
    our common stock.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The number of shares of common stock to be outstanding after
    this offering is based on 16,871,719&#160;shares outstanding as
    of December&#160;9, 2009. It excludes, as of that date:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    863,800&#160;shares of common stock issuable upon the exercise
    of outstanding options, with a weighted average exercise price
    of $10.86 per share;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    502,250&#160;shares of common stock issuable upon the vesting of
    restricted stock awards;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    375,000&#160;shares of common stock issuable upon the exercise
    of outstanding warrants, with a weighted average exercise price
    of $11.00 per share;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    2,687,124&#160;shares of common stock reserved for future grants
    under our stock incentive plans.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Except as otherwise noted, the information in this prospectus
    supplement assumes no exercise by the underwriters of their
    over-allotment option.
</DIV>
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    <BR>
    S-4
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='602'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">RISK
    FACTORS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>An investment in our common stock involves a high degree of
    risk. You should carefully consider the risk factors described
    below, together with the other information included or
    incorporated by reference in this prospectus supplement and the
    accompanying prospectus before you decide to invest in our
    common stock. The risks described below are the material risks
    of which we are currently aware; however, they may not be the
    only risks that we may face. Additional risks and uncertainties
    not currently known to us or that we currently view as
    immaterial may also impair our business. If any of these risks
    develop into actual events, it could materially and adversely
    affect our business, financial condition, results of operations
    and cash flows, the trading price of our common stock could
    decline and you may lose all or part of your investment.</I>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Risk
    Factors Relating to Our Licensed and Non-Licensed Wholesale
    Apparel Business</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>The failure to maintain our license agreements could cause us
    to lose significant revenues and have a material adverse effect
    on our results of operations.&#160;&#160;</I>We are dependent on
    sales of licensed product for a substantial portion of our
    revenues. In fiscal 2009, revenues from the sale of licensed
    product accounted for 60.5% of our net sales (68.0% of net sales
    of wholesale apparel) compared to 70.3% of our net sales in
    fiscal 2008 and 63.0% of our net sales in fiscal 2007.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We are generally required to achieve specified minimum net
    sales, make specified royalty and advertising payments and
    receive prior approval of the licensor as to all design and
    other elements of a garment prior to production. License
    agreements also may restrict our ability to enter into other
    license agreements for competing products. If we do not satisfy
    any of these requirements, a licensor usually will have the
    right to terminate our license. Even if a licensor does not
    terminate our license, the failure to achieve net sales
    sufficient to cover our required minimum royalty payments could
    have a material adverse effect on our results of operations. If
    a license contains a renewal provision, there are usually
    minimum sales and other conditions that must be met in order to
    be able to renew a license. Even if we comply with all the terms
    of a license agreement, we cannot be sure that we will be able
    to renew an agreement when it expires even if we desire to do
    so. The failure to maintain our license agreements could cause
    us to lose significant revenue and have a material adverse
    effect on our results of operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Our success is dependent on the strategies and reputation of
    our licensors.</I>&#160;&#160;Our business strategy is to offer
    our products on a multiple brand, multiple channel and multiple
    price point basis. As a part of this strategy, we license the
    names and brands of numerous recognized companies, designers and
    celebrities. In entering into these license agreements, we plan
    our products to be targeted towards different market segments
    based on consumer demographics, design, suggested pricing and
    channel of distribution. If any of our licensors decides to
    &#147;reposition&#148; its products under the brands we license
    from them, introduce similar products under similar brand names
    or otherwise change the parameters of design, pricing,
    distribution, target market or competitive set, we could
    experience a significant downturn in that brand&#146;s business,
    adversely affecting our sales and profitability. We have six
    different license agreements relating to a variety of products
    sold under the Calvin Klein brand that is owned by Phillips-Van
    Heusen Corporation. Any change by Phillips-Van Heusen in the
    marketing of products sold under the Calvin Klein label, or any
    adverse change in our relationship with Phillips Van-Heusen,
    could have a material adverse affect on our results of
    operations. In addition, as licensed products may be personally
    associated with designers or celebrities, our sales of those
    products could be materially and adversely affected if any of
    those individuals&#146; images, reputations or popularity were
    to be negatively impacted.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>If we are unable to successfully translate market trends into
    attractive product offerings, our sales and profitability could
    suffer.</I>&#160;&#160;Our ability to successfully compete
    depends on a number of factors, including our ability to
    effectively anticipate, gauge and respond to changing consumer
    demands and tastes across multiple product lines and tiers of
    distribution. We are required to translate market trends into
    attractive product offerings and operate within substantial
    production and delivery constraints. We cannot be sure we will
    continue to be successful in this regard. We need to anticipate
    and respond to changing trends quickly, efficiently and
    effectively in order to be successful.
</DIV>
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    <BR>
    S-5
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Expansion of our product offerings involves significant costs
    and uncertainty and could adversely affect our results of
    operations.</I>&#160;&#160;An important part of our strategy is
    to expand the types of products we offer. During the past three
    years, we have added licenses for new lines of women&#146;s
    suits, dresses, performance wear and sportswear. In addition, we
    acquired a dress and sportswear manufacturer. We have limited
    prior experience designing, manufacturing and marketing these
    types of products. We intend to continue to add additional
    product lines in the future. As is typical with new products,
    demand and market acceptance for any new products we introduce
    will be subject to uncertainty. Designing, producing and
    marketing new products require substantial expenditures. We
    cannot be certain that our efforts and expenditures will
    successfully generate sufficient sales or that sales that are
    generated will be sufficient to cover our expenditures. For
    example, in March 2006, we entered into a license for
    women&#146;s sportswear under the Sean John label. This license
    was mutually terminated in January 2008, resulting in a charge
    to earnings in the fourth quarter of fiscal 2008.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>If our customers change their buying patterns, request
    additional allowances or develop their own private label brands,
    our sales to these customers could be materially adversely
    affected.&#160;&#160;</I>Our customers&#146; buying patterns, as
    well as the need to provide additional allowances to vendors,
    could have a material adverse effect on our business, results of
    operations and financial condition. Customers&#146; strategic
    initiatives, including developing their own private labels
    brands and reducing the number of vendors they purchase from,
    could also impact our sales to these customers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>We have significant customer concentration, and the loss of
    one of our large customers could adversely affect our
    business.</I>&#160;&#160;Our 10 largest customers accounted for
    approximately 56.6% of our net sales in fiscal 2009 and 59.7% of
    our net sales in fiscal 2008, with our largest customer
    accounting for 15.4% of our net sales in fiscal 2009.
    Consolidation in the retail industry has increased the
    concentration of our sales to our largest customers. We do not
    have long-term contracts with any customers, and sales to
    customers generally occur on an
    <FONT style="white-space: nowrap">order-by-order</FONT>
    basis that may be subject to cancellation or rescheduling by the
    customer. A decision by our major customers to decrease the
    amount of merchandise purchased from us, to increase the use of
    their own private label brands or to change the manner of doing
    business with us could reduce our revenues and materially
    adversely affect our results of operations. The loss of any of
    our large customers, or the bankruptcy or serious financial
    difficulty of any of our large customers, could have a material
    adverse effect on us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>If we miscalculate the market for our products, we may end up
    with significant excess inventories for some products and missed
    opportunities for others.</I>&#160;&#160;We often produce
    garments to hold in inventory in order to meet our
    customers&#146; delivery requirements and to be able to quickly
    fulfill reorders. If we misjudge the market for our products, we
    may be faced with significant excess inventories for some
    products and missed opportunities for others. In addition, weak
    sales and resulting markdown requests from customers could have
    a material adverse effect on our results of operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>We are dependent upon foreign
    manufacturers.</I>&#160;&#160;We do not own or operate any
    manufacturing facilities. We also do not have long-term written
    agreements with any of our manufacturers. As a result, any of
    these manufacturers may unilaterally terminate its relationship
    with us at any time. Almost all of our products are imported
    from independent foreign manufacturers. The failure of these
    manufacturers to ship products to us in a timely manner or to
    meet required quality standards could cause us to miss the
    delivery date requirements of our customers. The failure to make
    timely deliveries could cause customers to cancel orders, refuse
    to accept delivery of products or demand reduced prices.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We are also dependent on these manufacturers for compliance with
    our policies and the policies of our licensors and customers
    regarding labor practices employed by factories that manufacture
    product for us. Any failure by these manufacturers to comply
    with required labor standards or any other divergence in their
    labor or other practices from those generally considered ethical
    in the United States, and the potential negative publicity
    relating to any of these events, could result in a violation by
    us of our license agreements and harm us and our reputation. In
    addition, a manufacturer&#146;s failure to comply with safety or
    content regulations and standards could result in substantial
    liability and harm to our reputation.
</DIV>
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    <BR>
    S-6
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>We are subject to the risks of doing business
    abroad.</I>&#160;&#160;Our arrangements with foreign
    manufacturers are subject to the usual risks of doing business
    abroad, including currency fluctuations, political or labor
    instability and potential import restrictions, duties and
    tariffs. We do not maintain insurance for the potential lost
    profits due to disruptions of our overseas manufacturers.
    Because our products are produced abroad, primarily in China,
    political or economic instability in China or elsewhere could
    cause substantial disruption in the business of our foreign
    manufacturers. For example, in the past, the Chinese government
    has reduced tax rebates to factories for the manufacture of
    textile and leather garments. The rebate reduction resulted in
    factories seeking to recoup more of their costs from customers,
    resulting in higher prices for goods imported from China. This
    tax rebate has been reinstated in certain instances. However,
    new or increased reductions in this rebate would cause an
    increase in the cost of finished garments from China which could
    materially adversely affect our financial condition and results
    of operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    There have been threats of anti-dumping cases with respect to
    apparel sourced from several countries, including China and
    Vietnam. Heightened terrorism security concerns could subject
    imported goods to additional, more frequent or more thorough
    inspections. This could delay deliveries or increase costs,
    which could adversely impact our results of operations. In
    addition, since we negotiate our purchase orders with foreign
    manufacturers in United States dollars, the decline in value of
    the United States dollar against local currencies would
    negatively impact our cost in dollars of product sourced from
    these manufacturers. We are not currently engaged in any hedging
    activities to protect against currency risks. If there is
    downward pressure on the value of the dollar, our purchase
    prices for our products could increase. We may not be able to
    offset an increase in product costs with a price increase to our
    customers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Fluctuations in the price, availability and quality of
    materials used in our products could have a material adverse
    effect on our cost of goods sold and our ability to meet our
    customers&#146; demands.&#160;&#160;</I>Fluctuations in the
    price, availability and quality of the leather, wool and other
    materials used in our products could have a material adverse
    effect on our cost of sales or our ability to meet our
    customers&#146; demands. We compete with numerous entities for
    supplies of materials and manufacturing capacity. The supply and
    price of leather are vulnerable to animal diseases as well as
    natural disasters that can affect the supply and price of raw
    leather. For example, in the past, the outbreak of mad-cow and
    <FONT style="white-space: nowrap">foot-and-mouth</FONT>
    disease in Europe, and its aftereffects, adversely affected the
    supply and cost of leather. Any recurrence of these diseases
    could adversely affect us. The prices for wool and other fabrics
    used in our products depend largely on the market prices for the
    raw materials used to produce them, such as raw wool or cotton.
    We may not be able to pass on all or any portion of higher
    material prices to our customers.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Risks
    Relating to Our Retail Outlet Business</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Expansion of our business into the retail sector involves
    significant costs and uncertainties.</I>&#160;&#160;In July
    2008, we acquired 116 outlet store leases, as well as inventory,
    fixtures, a warehouse location and trademarks and trade names,
    from Wilsons The Leather Experts. Managing the Wilsons outlet
    stores requires the expenditure of our time and resources.
    Operation of a retail chain could divert our management&#146;s
    time and resources from our core wholesale apparel business.
    Operation of a retail chain could be viewed as competitive by
    our licensors and existing retail customers and adversely affect
    our relationships with them. Accordingly, the acquisition of the
    Wilsons retail outlet business could negatively impact our
    results of operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>We will need to improve the results of operations of the
    acquired Wilsons retail outlet stores in order for these stores
    to operate profitably for us. We have no experience operating a
    retail chain.&#160;&#160;</I>Prior to our acquisition of the
    Wilsons retail outlet stores, these stores as a whole were
    experiencing declines in comparable store sales, sales per
    square foot and gross margins. The operation of these stores
    negatively impacted our results of operations in fiscal 2009. We
    will need to improve store operations and upgrade merchandise
    offered at these stores in order for these stores to operate
    profitably for us. We had no experience operating a retail chain
    prior to this acquisition and cannot be sure we will be able to
    improve the operations of these stores. If we cannot improve the
    results of operations of these stores, this acquisition could
    have a material adverse effect on our result of operations.
</DIV>
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    <BR>
    S-7
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Leasing of significant amounts of real estate exposes us to
    possible liabilities and losses.</I>&#160;&#160;All of the
    Wilsons retail outlet stores acquired by us in July 2008 are
    leased. Accordingly, we are subject to all of the risks
    associated with leasing real estate. Store leases generally
    require us to pay a fixed minimum rent and a variable amount
    based on a percentage of annual sales at that location. We
    generally cannot cancel our leases. If an existing or future
    store is not profitable, and we decide to close it, we may be
    committed to perform certain obligations under the applicable
    lease including, among other things, paying rent for the balance
    of the applicable lease term. As each of our leases expires, if
    we do not have a renewal option, we may be unable to negotiate a
    renewal, on commercially acceptable terms or at all, which could
    cause us to close stores in desirable locations. In addition, we
    may not be able to close an unprofitable store due to an
    existing operating covenant, which may cause us to operate the
    location at a loss and prevent us from finding a more desirable
    location.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Our retail outlet stores are heavily dependent on the ability
    and desire of consumers to travel and shop. A reduction in the
    volume of outlet mall traffic could adversely affect our retail
    sales.&#160;&#160;</I>Our retail outlet stores are located in
    outlet malls, which are typically located in or near vacation
    destinations or away from large population centers where
    department stores and other traditional retailers are
    concentrated. As a result of the current economic problems in
    the U.S., fuel shortages, increased fuel prices, travel concerns
    and other circumstances, which would lead to decreased travel,
    could have a material adverse affect on sales at our outlet
    stores. Other factors which could affect the success of our
    outlet stores include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the location of the outlet mall or the location of a particular
    store within the mall;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the other tenants occupying space at the outlet mall;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    increased competition in areas where the outlet malls are
    located;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a continued downturn in the economy generally or in a particular
    area where an outlet mall is located;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the amount of advertising and promotional dollars spent on
    attracting consumers to the outlet malls.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Sales at our stores are derived, in part, from the volume of
    traffic at the malls where our stores are located. Our stores
    benefit from the ability of a mall&#146;s other tenants and
    other area attractions to generate consumer traffic in the
    vicinity of our stores and the continuing popularity of outlet
    malls as shopping destinations. A reduction in outlet mall
    traffic as a result of these or other factors could materially
    adversely affect our business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>The retail business is intensely competitive and increased or
    new competition could have a material adverse effect on
    us.</I>&#160;&#160;The retail industry is intensely competitive.
    We compete against a diverse group of retailers, including,
    among others, other outlet stores, department stores, specialty
    stores, warehouse clubs and
    <FONT style="white-space: nowrap">e-commerce</FONT>
    retailers. We also compete in particular markets with a number
    of retailers that specialize in the products that we sell. A
    number of different competitive factors could have a material
    adverse effect on our retail business, results of operations and
    financial condition including:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    increased operational efficiencies of competitors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    competitive pricing strategies, including deep discount pricing
    by a broad range of retailers during periods of poor consumer
    confidence or economic instability, such as the deep discounts
    offered during the 2008 holiday season and thereafter;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    expansion of product offerings by existing competitors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    entry by new competitors into markets in which we operate retail
    stores;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    adoption by existing competitors of innovative retail sales
    methods.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We may not be able to continue to compete successfully with our
    existing or new competitors, or be assured that prolonged
    periods of deep discount pricing by our competitors will not
    have a material adverse effect on our business.
</DIV>
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    <BR>
    S-8
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>A privacy breach could adversely affect our
    business.</I>&#160;&#160;The protection of customer, employee,
    and company data is critical to us. The regulatory environment
    surrounding information security and privacy is increasingly
    demanding, with the frequent imposition of new and constantly
    changing requirements across business units. In addition,
    customers have a high expectation that we will adequately
    protect their personal information. A significant breach of
    customer, employee, or company data could damage our reputation
    and result in lost sales, fines, or lawsuits.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Risk
    Factors Relating to the Operation of Our Business</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>If we lose the services of our key personnel, our business
    will be harmed.</I>&#160;&#160;Our future success depends on
    Morris Goldfarb, our Chairman and Chief Executive Officer, and
    other key personnel. The loss of the services of
    Mr.&#160;Goldfarb and any negative market or industry perception
    arising from the loss of his services could have a material
    adverse effect on us and the price of our shares. Our other
    executive officers have substantial experience and expertise in
    our business and have made significant contributions to our
    success. The unexpected loss of services of one or more of these
    individuals could also adversely affect us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>We have expanded our business through acquisitions that could
    result in diversion of resources, an inability to integrate
    acquired operations and extra expenses. This could disrupt our
    business and adversely affect our financial
    condition.&#160;&#160;</I>Part of our growth strategy is to
    pursue acquisitions. In July 2005, we acquired Marvin Richards
    and the operating assets of Winlit, in May 2007, we acquired the
    operating assets of Jessica Howard, in February 2008, we
    acquired Andrew Marc and in July 2008, we acquired certain
    assets related to the Wilsons retail outlet business. The
    negotiation of potential acquisitions as well as the integration
    of acquired businesses could divert our management&#146;s time
    and resources. Acquired businesses may not be successfully
    integrated with our operations. We may not realize the intended
    benefits of any acquisition. For example, the results of Wilsons
    adversely affected our results of operations in fiscal 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Acquisitions could also result in:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    substantial cash expenditures;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    potentially dilutive issuances of equity securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the incurrence of debt and contingent liabilities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a decrease in our profit margins;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    amortization of intangibles and potential impairment of goodwill;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduction of management attention to other parts of our business;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    failure to generate expected financial results or reach business
    goals;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    increased expenditures on human resources and related costs.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    If acquisitions disrupt our operations, our business may suffer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>We may need additional financing to continue to
    grow.</I>&#160;&#160;The continued growth of our business
    depends on our access to sufficient funds to support our growth.
    Our primary source of working capital to support our growth is
    our line of credit which, in April 2008, was extended to July
    2011. Our need for working capital and the amount of our debt
    has increased significantly as a result of our five acquisitions
    since July 2005. The maximum available under our line of credit
    has increased from $110&#160;million prior to our acquisitions
    in July 2005 to its current level of $250&#160;million. Our
    growth is dependent on our ability to continue to be able to
    extend and increase the line of credit. If we are unable to
    refinance our debt, we cannot be sure we will be able to secure
    alternative financing on satisfactory terms or at all.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Our business is highly seasonal. Our results of operations
    may suffer in the event that the weather is unusually warm
    during the peak outerwear selling season.&#160;&#160;</I>Retail
    sales of outerwear have traditionally been seasonal in nature.
    Sales of outerwear constitute a significant majority of our
    sales. As a result, in prior years we have been dependent on our
    sales from July through November for the substantial majority of
    our net sales and net income. Net sales in the months of July
    through November accounted for approximately 70% of our
</DIV>
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    <BR>
    S-9
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    net sales in fiscal 2009, 75% of our net sales in fiscal 2008
    and 81% of our net sales in fiscal 2007. The Andrew Marc
    business we acquired in February 2008 experiences seasonality
    similar to our other wholesale outerwear businesses. Our Wilsons
    retail outlet business, acquired in July 2008, is also highly
    seasonal, with the third and fourth fiscal quarters accounting
    for a significant majority of its sales and operating income. As
    a result, we will be highly dependent on our results of
    operations during the second half of our fiscal year. Any
    difficulties we may encounter during this period as a result of
    weather or disruption of manufacturing or transportation of our
    products will have a magnified effect on our net sales and net
    income for the year. In addition, because of the large amount of
    outerwear we sell at both wholesale and retail, unusually warm
    weather conditions during the peak fall and winter outerwear
    selling season could have a material adverse effect on our
    results of operations. Our quarterly results of operations for
    our retail business also may fluctuate based upon such factors
    as the timing of certain holiday seasons, the number and timing
    of new store openings, the acceptability of seasonal merchandise
    offerings, the timing and level of markdowns, store closings and
    remodels, competitive factors, weather and general economic
    conditions. The second half of the year is expected to continue
    to provide a disproportionate amount of our net sales and net
    income for the foreseeable future.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Risk
    Factors Relating to the Economy and the Apparel
    Industry</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Recent and future economic conditions, including turmoil in
    the financial and credit markets, may adversely affect our
    business.</I>&#160;&#160;The current economic and credit crisis
    is having a significant negative impact on businesses around the
    world. The impact of this crisis on the apparel industry and our
    major customers has been quite severe. Conditions may continue
    to be depressed or may be subject to further deterioration which
    could lead to a further reduction in consumer spending overall,
    which could have an adverse impact on sales of our products. A
    disruption in the ability of our significant customers to access
    liquidity could cause serious disruptions or an overall
    deterioration of their businesses which could lead to a
    significant reduction in their orders of our products and the
    inability or failure on their part to meet their payment
    obligations to us, any of which could have a material adverse
    effect on our results of operations and liquidity. A significant
    adverse change in a customer&#146;s financial
    <FONT style="white-space: nowrap">and/or</FONT>
    credit position could also require us to assume greater credit
    risk relating to that customer&#146;s receivables or could limit
    our ability to collect receivables related to previous purchases
    by that customer. As a result, our reserves for doubtful
    accounts and write-offs of accounts receivable may increase.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Our ability to continue to have the necessary liquidity to
    operate our business may be adversely impacted by a number of
    factors, including a continuation of the difficult conditions in
    the credit and financial markets which could limit the
    availability and increase the cost of financing. A deterioration
    of our results of operations and cash flow resulting from
    continued decreases in consumer spending, could, among other
    things, impact our ability to comply with financial covenants in
    our existing credit facility.&#160;&#160;</I>Our historical
    sources of liquidity to fund ongoing cash requirements include
    cash flows from operations, cash and cash equivalents, as well
    as borrowings through our loan agreement (which includes
    revolving and trade letter of credit facilities). The
    sufficiency and availability of credit may be adversely affected
    by a variety of factors, including, without limitation, the
    substantial tightening of the credit markets, including lending
    by financial institutions who are sources of credit for our
    borrowing and liquidity; an increase in the cost of capital; the
    reduced availability of credit; our ability to execute our
    strategy; the level of our cash flows, which will be impacted by
    retailer and consumer acceptance of our products and the level
    of consumer discretionary spending; maintenance of financial
    covenants included in our loan agreement; and interest rate
    fluctuations. We cannot be certain that any additional required
    financing, whether debt or equity, will be available in amounts
    needed or on terms acceptable to us, if at all.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    As of October&#160;31, 2009, we were in compliance with the
    financial covenants in our loan agreement. Compliance with these
    financial covenants is dependent on the results of our
    operations, which are subject to a number of factors including
    current economic conditions. The current economic environment
    has resulted generally in lower consumer confidence and lower
    retail sales. A continuation of this trend may lead to further
    reduced consumer spending which could adversely impact our net
    sales and cash flow, which could affect our compliance with our
    financial covenants. A violation of our covenants could limit
    access to our credit
</DIV>
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    S-10
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    facilities. Should such restrictions on our credit facilities
    and these factors occur, they could have a material adverse
    effect on our business and results of operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>The cyclical nature of the apparel industry and uncertainty
    over future economic prospects and consumer spending could have
    a materially adverse effect on our results of
    operations.&#160;&#160;</I>The apparel industry is cyclical.
    Purchases of outerwear, sportswear and other apparel tend to
    decline during recessionary periods and may decline for a
    variety of other reasons, including changes in fashion trends
    and the introduction of new products or pricing changes by our
    competitors. Uncertainties regarding future economic prospects
    affected consumer-spending habits and had an adverse effect on
    our results of operations in fiscal 2009. Uncertainty with
    respect to consumer spending as a result of weak economic
    conditions has caused our customers to delay the placing of
    initial orders and to slow the pace of reorders during the
    seasonal peak of our business. Weak economic conditions have had
    a material adverse effect on our results of operations at times
    in the past and could have a material adverse effect on our
    results of operations in the future as well.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>The competitive nature of the apparel industry may result in
    lower prices for our products and decreased gross profit
    margins.</I>&#160;&#160;The apparel business is highly
    competitive. We have numerous competitors with respect to the
    sale of apparel, including distributors that import apparel from
    abroad and domestic retailers with established foreign
    manufacturing capabilities. Many of our competitors have greater
    financial and marketing resources and greater manufacturing
    capacity than we do. We also compete with vertically integrated
    apparel manufacturers that also own retail stores. The general
    availability of contract manufacturing capacity also allows ease
    of access by new market entrants. The competitive nature of the
    apparel industry may result in lower prices for our products and
    decreased gross profit margins, either of which may materially
    adversely affect our sales and profitability. Sales of our
    products are affected by style, price, quality, brand reputation
    and general fashion trends.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>If major department, mass merchant and specialty store chains
    continue to consolidate, our business could be negatively
    affected.</I>&#160;&#160;We sell our products to major
    department, mass merchant and specialty store chains. Continued
    consolidation in the retail industry could negatively impact our
    business. Consolidation could reduce the number of our customers
    and potential customers. With increased consolidation in the
    retail industry, we are increasingly dependent on retailers
    whose bargaining strength may increase and whose share of our
    business may grow. As a result, we may face greater pressure
    from these customers to provide more favorable terms, including
    increased support of their retail margins. As purchasing
    decisions become more centralized, the risks from consolidation
    increase. A store group could decide to decrease the amount of
    product purchased from us, modify the amount of floor space
    allocated to outerwear or other apparel in general or to our
    products specifically or focus on promoting private label
    products rather than our products. Customers are also
    concentrating purchases among a narrowing group of vendors.
    These types of decisions by our key customers could adversely
    affect our business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>A significant increase in fuel prices could adversely affect
    our results of operations.</I>&#160;&#160;Fuel prices have
    increased significantly at times during the past few years.
    Increased gasoline prices could adversely affect consumer
    spending, including discretionary spending on apparel. In
    addition, higher fuel prices have caused our operating expenses
    to increase, particularly for freight. Any significant decrease
    in sales or increase in expenses as a result of higher fuel
    prices could adversely affect our results of operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>If new legislation restricting the importation or increasing
    the cost of textiles and apparel produced abroad is enacted, our
    business could be adversely affected.&#160;&#160;</I>Legislation
    that would restrict the importation or increase the cost of
    textiles and apparel produced abroad has been periodically
    introduced in Congress. The enactment of new legislation or
    international trade regulation, or executive action affecting
    international textile or trade agreements, could adversely
    affect our business. International trade agreements that can
    provide for tariffs
    <FONT style="white-space: nowrap">and/or</FONT>
    quotas can increase the cost and limit the amount of product
    that can be imported.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    China&#146;s accession agreement for membership in the World
    Trade Organization provides that member countries, including the
    United States, may impose safeguard quotas on specific products.
    In May 2005, the United States imposed unilateral quotas on
    several product categories, limiting growth in imports of these
    categories to 7.5% a year. These safeguard quotas were
    eliminated in 2009. We are unable to assess the potential for
    future action by the United States government with respect to
    any product category in the event
</DIV>
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    <BR>
    S-11
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    that the quantity of imported apparel significantly disrupts the
    apparel market in the United States. Future action by the United
    States in response to a disruption in its apparel markets could
    limit our ability to import apparel and increase our costs.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>The effects of war or acts of terrorism could adversely
    affect our business.</I>&#160;&#160;The continued threat of
    terrorism, heightened security measures and military action in
    response to acts of terrorism has, at times, disrupted commerce
    and intensified concerns regarding the United States economy.
    Any further acts of terrorism or new or extended hostilities may
    disrupt commerce and undermine consumer confidence, which could
    negatively impact our sales and results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Other
    Risks Relating to Ownership of Our Common Stock and this
    Offering</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Our Chairman and Chief Executive Officer may be in a position
    to control matters requiring a stockholder
    vote.</I>&#160;&#160;As of December&#160;9, 2009, Morris
    Goldfarb, our Chairman and Chief Executive Officer, beneficially
    owned approximately 19.2% of our common stock. His significant
    role in our management and his reputation in the apparel
    industry could make his support crucial to the approval of any
    major transaction involving us. As a result, he may have the
    ability to control the outcome on matters requiring stockholder
    approval including, but not limited to, the election of
    directors and any merger, consolidation or sale of all or
    substantially all of our assets. He also may have the ability to
    control our management and affairs.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>The price of our common stock has fluctuated significantly
    and could continue to fluctuate
    significantly.</I>&#160;&#160;Between February&#160;1, 2006 and
    December&#160;14, 2009, the market price of our common stock has
    ranged from a high of $26.74 per share to a low of $3.24. The
    market price of our common stock may change significantly in
    response to various factors and events beyond our control,
    including:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    fluctuations in our quarterly revenues or those of our
    competitors as a result of seasonality or other factors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a shortfall in revenues or net income from that expected by
    securities analysts and investors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in securities analysts&#146; estimates of our financial
    performance or the financial performance of our competitors or
    companies in our industry generally;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    announcements concerning our competitors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in product pricing policies by our competitors or our
    customers;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    general conditions in our industry;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    general conditions in the securities markets, such as the recent
    broad decline in stock prices.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Our actual financial results might vary from our publicly
    disclosed financial forecasts.</I>&#160;&#160;From time to time,
    we publicly disclose financial forecasts. Our forecasts reflect
    numerous assumptions concerning our expected performance, as
    well as other factors which are beyond our control and which
    might not turn out to be correct. As a result, variations from
    our forecasts could be material. Our financial results are
    subject to numerous risks and uncertainties, including those
    identified throughout this &#147;Risk Factors&#148; section and
    elsewhere in the documents incorporated by reference in this
    prospectus supplement. If our actual financial results are worse
    than our financial forecasts, the price of our common stock may
    decline.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>We recorded significant charges for the impairment of
    goodwill and trademarks during the fourth quarter of fiscal 2009
    which caused us to report a net loss for fiscal 2009. If our
    goodwill and other intangibles become further impaired, we may
    be required to record additional charges to
    earnings.&#160;&#160;</I>We recorded aggregate charges of
    $33.5&#160;million in the fourth quarter of fiscal 2009 for
    impairment charges related to goodwill in our non-licensed
    apparel segment and one of our trademarks. As a result, we
    reported a net loss for fiscal 2009. As of January&#160;31,
    2009, after recording these impairment charges, we had goodwill
    and other intangibles in an aggregate amount of
    $46.9&#160;million, or approximately 16.6% of our total assets
    and 28.9% of our stockholders&#146; equity. Under accounting
    principles generally accepted in the United States, we review
    our goodwill and other intangibles for impairment annually
    during the fourth quarter of each fiscal year and when events or
    changes in circumstances indicate the carrying value may not be
    recoverable. The carrying value of
</DIV>
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    S-12
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    our goodwill and other intangibles may not be recoverable due to
    factors such as a decline in our stock price and market
    capitalization, reduced estimates of future cash flows and
    profitability and slower growth rates in our industry. Our
    impairment charges in fiscal 2009 were primarily the result of a
    decrease in our market capitalization and, to a lesser extent,
    from a decrease in projected revenues and profitability for one
    of our proprietary brands. Estimates of future cash flows and
    profitability are based on an updated long-term financial
    outlook of our operations. However, actual performance in the
    near-term or long-term could be materially different from these
    forecasts, which could impact future estimates. A further
    significant decline in our market capitalization or further
    deterioration in our projected results could result in
    additional impairment of goodwill
    <FONT style="white-space: nowrap">and/or</FONT>
    intangibles. We may be required to record a significant charge
    to earnings in our financial statements during a period in which
    an impairment of our goodwill is determined to exist, as
    happened in fiscal 2009, which would negatively impact our
    results of operations and could negatively impact our stock
    price.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>We are subject to ongoing costs and risks associated with
    complying with extensive corporate governance and disclosure
    requirements.</I>&#160;&#160;As a public company, we spend a
    significant amount of management time and resources to comply
    with laws, regulations and standards relating to corporate
    governance and public disclosure, including under the
    Sarbanes-Oxley Act of 2002, SEC regulations and Nasdaq rules.
    Section&#160;404 of the Sarbanes-Oxley Act requires
    management&#146;s annual review and evaluation of our internal
    control over financial reporting and attestations of the
    effectiveness of these controls by our management and by our
    independent registered public accounting firm. We were required
    to complete our first Section&#160;404 report with respect to
    fiscal 2008. However, there is no guarantee that these efforts
    will result in management assurance or an attestation by our
    independent registered public accounting firm that our internal
    control over financial reporting is adequate in future periods.
    In connection with our compliance with Section&#160;404 and
    other applicable provisions of the Sarbanes-Oxley Act, our
    management and other personnel devote a substantial amount of
    time and we may need to hire additional accounting and financial
    staff to assure that we comply with these requirements. The
    additional management attention and costs relating to compliance
    with the Sarbanes-Oxley Act and other corporate governance
    requirements could materially and adversely affect our financial
    results.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Future sales of our common stock, including the shares
    purchased in this offering, may depress our stock
    price.</I>&#160;&#160;Sales of a substantial number of shares of
    our common stock in the public market by our stockholders after
    this offering, sales of our common stock by our management or
    the perception that such sales are likely to occur could depress
    the market price of our common stock and impair our ability to
    raise capital through the sale of additional equity securities.
    Upon completion of this offering, we will have
    outstanding&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of common stock. Of these shares:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

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<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    generally will be freely tradable in the public market,
    including all of
    the&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    offered under this prospectus supplement;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    approximately 3,616,453&#160;additional shares may be sold after
    the expiration of the
    <FONT style="white-space: nowrap">90-day</FONT>
    <FONT style="white-space: nowrap">lock-up</FONT>
    agreements entered into by our officers and directors in this
    offering, subject to compliance with the volume limitations and
    other restrictions of Rule&#160;144;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    1,366,050 additional shares will be eligible for issuance
    pursuant to options and restricted share units presently
    outstanding under our existing stock incentive plans;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    375,000 additional shares will be eligible for issuance pursuant
    to warrants presently outstanding and exercisable at an exercise
    price of $11.00 per share.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We may issue shares of our common stock from time to time as
    consideration for or to finance future acquisitions and
    investments. In the event any such acquisition or investment is
    significant, the number of shares of our common stock, or the
    number or aggregate principal amount, as the case may be, of
    other securities that we may issue may in turn be significant.
    In addition, we may also grant registration rights covering
    those shares of our common stock or other securities in
    connection with any such acquisition or investment.
</DIV>
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    <BR>
    S-13
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<A name='603'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

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    <B><FONT style="font-family: 'Times New Roman', Times">SPECIAL
    NOTE&#160;REGARDING FORWARD-LOOKING STATEMENTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    This prospectus supplement, the accompanying prospectus, and the
    documents incorporated by reference into this prospectus
    supplement and the accompanying prospectus contain
    forward-looking statements within the meaning of
    Section&#160;27A of the Securities Act and Section&#160;21E of
    the Securities Exchange Act. In particular, forward-looking
    statements regarding our expected performance and financial
    results in future periods&#160;&#151; which include words such
    as &#147;expect,&#148; &#147;believe,&#148; &#147;will,&#148;
    &#147;would,&#148; &#147;may,&#148; &#147;anticipate&#148; and
    similar expressions&#160;&#151; are based upon management&#146;s
    current expectations and beliefs and are subject to a number of
    risks and uncertainties, including those described above under
    &#147;Risk Factors,&#148; that could cause actual results to
    differ materially from those described in the preceding
    forward-looking statements. You are cautioned not to place undue
    reliance on these forward-looking statements.
</DIV>

<A name='604'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">USE OF
    PROCEEDS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We estimate that the net proceeds from the sale of shares of our
    common stock in this offering will be
    $&#160;&#160;&#160;&#160;&#160;&#160;million (or approximately
    $&#160;&#160;&#160;&#160;&#160;&#160;million if the underwriters
    exercise their overallotment option in full) after deducting the
    estimated underwriting discounts and offering expenses payable
    by us.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We expect to use the net proceeds for general corporate purposes
    to support the growth of our business. The net proceeds may also
    be used to acquire complementary product lines or businesses.
    Although we regularly investigate possible acquisitions, we have
    no existing commitments or agreements with respect to any
    particular acquisition.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Until we use the net proceeds of this offering for the above
    intended purposes, we intend to temporarily pay down any
    outstanding balance under our revolving credit facility or
    invest the funds in short-term, investment grade securities.
</DIV>

<A name='605'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PRICE
    RANGE OF COMMON STOCK</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Our common stock is traded on the Nasdaq Global Select Market
    under the trading symbol &#147;GIII.&#148;
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The following table sets forth, for the periods indicated, the
    range of high and low sales prices per share for our common
    stock for each quarter in fiscal 2008, fiscal 2009 and fiscal
    2010 to date, as reported by the Nasdaq Global Select Market.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="83%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Price</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">High</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Low</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Fiscal 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Quarter ending April&#160;30, 2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    26.54
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    17.17
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Quarter ending July&#160;31, 2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Quarter ending October&#160;31, 2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Quarter ending January&#160;31, 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.02
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Fiscal 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Quarter ending April&#160;30, 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.48
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.73
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Quarter ending July&#160;31, 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.62
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Quarter ending October&#160;31, 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20.58
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.36
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Quarter ending January&#160;31, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.77
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Fiscal 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Quarter ending April&#160;30, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.48
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.24
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Quarter ending July&#160;31, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.68
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.58
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Quarter ending October&#160;31, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19.81
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Quarter ending January&#160;31, 2010 (through December&#160;14,
    2009)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22.25
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.79
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    As of December&#160;9, 2009, we had 16,871,719&#160;shares of
    outstanding common stock held by 47 holders of record. The last
    reported sale price of our common stock on December&#160;14,
    2009 was $21.86 per share.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    S-14
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='606'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">CAPITALIZATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The following table sets forth our capitalization at
    October&#160;31, 2009:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    on an actual basis;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    as adjusted to reflect our sale by us
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of common stock in this offering at a public offering price of
    $&#160;&#160;&#160;&#160;&#160; per share, after deducting the
    underwriting discount and estimated offering expenses payable by
    us.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    You should read this table together with our financial
    statements and the related notes thereto, as well as
    &#147;Management&#146;s Discussion and Analysis of Financial
    Condition and Results of Operations&#148; and the other
    financial information, included elsewhere or incorporated by
    reference in this prospectus supplement or the accompanying
    prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="77%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">As of October&#160;31,
    2009</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Actual</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">As Adjusted</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B><FONT style="color: #3F6075">(In thousands, except share and
    per share amounts)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Cash and cash equivalents
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    16,633
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Stockholders&#146; equity:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Preferred stock, $.01&#160;par value; 1,000,000&#160;shares
    authorized; no shares issued and outstanding actual and as
    adjusted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Common stock, $.01&#160;par value; 40,000,000&#160;shares
    authorized; 17,229,294&#160;shares issued actual
    and&#160;&#160;&#160;&#160;&#160;&#160;shares issued as adjusted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    172
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Addition paid-in capital
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    102,215
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Accumulated other comprehensive income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (36
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Retained earnings
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (86,250
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    188,601
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Common stock held in treasury&#160;&#151; 367,225&#160;shares at
    cost
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (970
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (970
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Total stockholders&#146; equity
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    187,631
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD style="border-top: 1px solid #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Total capitalization
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    204,264
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    S-15
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='607'>
<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">UNDERWRITING</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We are offering the shares of common stock described in this
    prospectus supplement through a number of underwriters. Piper
    Jaffray is acting as the sole book-running manager of the
    offering and as representative of the underwriters. Lazard
    Capital Markets, Brean Murray, Carret&#160;&#038; Co. and
    KeyBanc Capital Markets are acting as co-managers for this
    offering. We have entered into a firm commitment underwriting
    agreement with the underwriters. Subject to the terms and
    conditions of the underwriting agreement, we have agreed to sell
    to the underwriters, and each underwriter has severally agreed
    to purchase, at the public offering price less the underwriting
    discount set forth on the cover page of this prospectus
    supplement, the number of shares of common stock listed next to
    its name in the following table:
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="83%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="13%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #3F6075; width: 1%; padding-bottom: 1px">
    <B><FONT style="color: #3F6075">Underwriter</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Number of Shares</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Piper Jaffray&#160;&#038; Co.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Lazard Capital Markets LLC&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Brean Murray, Carret&#160;&#038; Co. LLC&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    KeyBanc Capital Markets Inc.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Total
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD style="border-top: 3px double #3F6075">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The underwriters are committed to purchase all the shares of
    common stock offered by us if they purchase any shares, other
    than those shares covered by the over-allotment option described
    below. The underwriting agreement also provides that if an
    underwriter defaults, the purchase commitments of non-defaulting
    underwriters may also be increased or the offering may be
    terminated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The underwriters propose to offer the common stock directly to
    the public at the initial public offering price set forth on the
    cover page of this prospectus supplement and to certain dealers
    at that price less a concession not in excess of
    $&#160;&#160;&#160;&#160;&#160; per share. After the offering,
    these figures may be changed by the underwriters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The underwriters have an option to buy up
    to&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;additional
    shares of common stock from us to cover sales of shares by the
    underwriters which exceed the number of shares specified in the
    table above. The underwriters may exercise this option at any
    time and from time to time during the
    <FONT style="white-space: nowrap">30-day</FONT>
    period from the date of this prospectus supplement. If any
    shares are purchased with this over-allotment option, the
    underwriters will purchase shares in approximately the same
    proportion as shown in the table above. If any additional shares
    of common stock are purchased, the underwriters will offer the
    additional shares on the same terms as those on which the shares
    are being offered.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The underwriting fee is equal to the public offering price per
    share of common stock less the amount paid by the underwriters
    to us per share of common stock. The following table shows the
    per share and total underwriting discount to be paid to the
    underwriters assuming both no exercise and full exercise of the
    underwriters&#146; option to purchase additional shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="69%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="color: #3F6075">Without<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="color: #3F6075">With Full<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="color: #3F6075">Over-Allotment<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="color: #3F6075">Over-Allotment<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Exercise</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Exercise</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Per Share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We estimate that the total fees and expenses payable by us,
    excluding the underwriting discount, will be approximately
    $&#160;&#160;&#160;&#160;&#160; , which includes $75,000 payable
    at the closing of the offering that we have agreed to reimburse
    to Piper Jaffray for the fees incurred by it in connection with
    the offering.
</DIV>
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    <BR>
    S-16
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Lazard Fr&#232;res&#160;&#038; Co. LLC referred this transaction
    to Lazard Capital Markets LLC and will receive a referral fee
    from Lazard Capital Markets LLC in connection therewith.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We have agreed to indemnify the underwriters against certain
    liabilities, including liabilities under the Securities Act, or
    to contribute to payments that the underwriters may be required
    to make in respect of those liabilities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We and each of our directors and executive officers are subject
    to <FONT style="white-space: nowrap">lock-up</FONT>
    agreements that prohibit us and them from offering for sale,
    pledging, assigning, encumbering, announcing the intention to
    sell, selling, contracting to sell, granting any option, right
    or warrant to purchase, or otherwise transferring or disposing
    of, any shares of our common stock or any securities convertible
    into or exercisable or exchangeable for shares of our common
    stock for a period of at least 90&#160;days following the date
    of this prospectus supplement without the prior written consent
    of Piper Jaffray as the representative of the underwriters. The
    <FONT style="white-space: nowrap">lock-up</FONT>
    agreements do not prohibit our directors and executive officers
    from transferring shares of our common stock for bona fide gifts
    and other estate or tax planning purposes, subject to certain
    requirements, including that the transferee be subject to the
    same <FONT style="white-space: nowrap">lock-up</FONT>
    terms, or from directing sales by a charitable foundation of up
    to 25,000&#160;shares of our common stock. The
    <FONT style="white-space: nowrap">lock-up</FONT>
    agreements do not prohibit us from issuing shares to our
    directors and executive officers upon the exercise or conversion
    of securities outstanding on the date of this prospectus
    supplement. The
    <FONT style="white-space: nowrap">lock-up</FONT>
    provisions do not prevent us from selling shares to the
    underwriters pursuant to the underwriting agreement, from
    granting options or other stock-based awards to acquire
    securities under our existing stock incentive plans or issuing
    shares upon the exercise or conversion of securities outstanding
    on the date of this prospectus supplement, or from issuing
    shares of our common stock as consideration for the acquisition
    of another entity or in connection with a license, joint venture
    or similar arrangement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The <FONT style="white-space: nowrap">90-day</FONT>
    <FONT style="white-space: nowrap">lock-up</FONT>
    period in all of the
    <FONT style="white-space: nowrap">lock-up</FONT>
    agreements is subject to extension if (i)&#160;during the last
    17&#160;days of the
    <FONT style="white-space: nowrap">lock-up</FONT>
    period we issue an earnings release or material news or a
    material event relating to us occurs or (ii)&#160;prior to the
    expiration of the
    <FONT style="white-space: nowrap">lock-up</FONT>
    period, we announce that we will release earnings results during
    the <FONT style="white-space: nowrap">16-day</FONT>
    period beginning on the last day of the
    <FONT style="white-space: nowrap">lock-up</FONT>
    period, in which case the restrictions imposed in these
    <FONT style="white-space: nowrap">lock-up</FONT>
    agreements shall continue to apply until the expiration of the
    <FONT style="white-space: nowrap">18-day</FONT>
    period beginning on the issuance of the earnings release or the
    occurrence of the material news or material event, unless Piper
    Jaffray waives the extension in writing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Our shares are listed on the Nasdaq Global Select Market under
    the symbol &#147;GIII.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    To facilitate the offering, the underwriters may engage in
    transactions that stabilize, maintain or otherwise affect the
    price of the common stock during and after the offering.
    Specifically, the underwriters may over-allot or otherwise
    create a short position in the common stock for their own
    accounts by selling more shares of common stock than we have
    sold to them. Short sales involve the sale by the underwriters
    of a greater number of shares than they are required to purchase
    in the offering. The underwriters may close out any short
    position by either exercising their option to purchase
    additional shares or purchasing shares in the open market.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    In addition, the underwriters may stabilize or maintain the
    price of the common stock by bidding for or purchasing shares of
    common stock in the open market and may impose penalty bids. If
    penalty bids are imposed, selling concessions allowed to
    syndicate members or other broker-dealers participating in the
    offering are reclaimed if shares of common stock previously
    distributed in the offering are repurchased, whether in
    connection with stabilization transactions or otherwise. The
    effect of these transactions may be to stabilize or maintain the
    market price of the common stock at a level above that which
    might otherwise prevail in the open market. The imposition of a
    penalty bid may also affect the price of the common stock to the
    extent that it discourages resales of the common stock. The
    magnitude or effect of any stabilization or other transactions
    is uncertain. These transactions may be effected on the Nasdaq
    Global Select Market or otherwise and, if commenced, may be
    discontinued at any time. The underwriters may also engage in
    passive market making transactions in our common stock.
</DIV>
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    <BR>
    S-17
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Passive market making consists of displaying bids on the Nasdaq
    Global Select Market limited by the prices of independent market
    makers and effecting purchases limited by those prices in
    response to order flow. Rule&#160;103 of Regulation&#160;M
    promulgated by the SEC limits the amount of net purchases that
    each passive market maker may make and the displayed size of
    each bid. Passive market making may stabilize the market price
    of the common stock at a level above that which might otherwise
    prevail in the open market and, if commenced, may be
    discontinued at any time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    This prospectus supplement and the accompanying prospectus in
    electronic format may be made available on the web sites
    maintained by the underwriters and the underwriters may
    distribute prospectuses and prospectus supplements
    electronically.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    From time to time in the ordinary course of their respective
    businesses, the underwriters and certain of their respective
    affiliates have engaged, and may in the future engage, in
    commercial banking or investment banking transactions with us
    and our affiliates.
</DIV>
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    <BR>
    S-18
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='608'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">LEGAL
    MATTERS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The validity of the issuance of the common stock offered by us
    in this offering will be passed upon for us by
    Fulbright&#160;&#038; Jaworski L.L.P., New York, New York.
    Certain legal matters will be passed upon for the underwriters
    by Goodwin Procter LLP, New York, New York.
</DIV>

<A name='609'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXPERTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The consolidated financial statements of G-III Apparel Group,
    Ltd. and subsidiaries appearing in G-III Apparel Group
    Ltd.&#146;s Annual Report
    <FONT style="white-space: nowrap">(Form&#160;10-K)</FONT>
    for the year ended January&#160;31, 2009 (including the schedule
    appearing therein), and the effectiveness of G-III Apparel Group
    Ltd.&#146;s internal control over financial reporting as of
    January&#160;31, 2009, have been audited by Ernst&#160;&#038;
    Young LLP, independent registered public accounting firm, as set
    forth in their reports thereon included therein, and
    incorporated herein by reference. Such consolidated financial
    statements are incorporated herein by reference in reliance upon
    such reports given on the authority of such firm as experts in
    accounting and auditing.
</DIV>

<A name='610'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">WHERE YOU
    CAN FIND MORE INFORMATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We file annual, quarterly and special reports, proxy statements
    and other information with the SEC. You may read and copy any
    document we file at the SEC&#146;s Public Reference Room at
    100&#160;F&#160;Street, N.E., Washington,&#160;D.C. 20549.
    Please call the SEC at
    <FONT style="white-space: nowrap">1-800-SEC-0330</FONT>
    for more information about the operation of the public reference
    room. The SEC maintains an Internet site that contains reports,
    proxy and information statements, and other information
    regarding issuers that file electronically with the SEC,
    including G-III Apparel Group, Ltd. The SEC&#146;s Internet site
    can be found at
    <FONT style="white-space: nowrap">http://www.sec.gov.</FONT>
</DIV>

<A name='611'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">INCORPORATION
    BY REFERENCE</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The SEC allows us to &#147;incorporate by reference&#148;
    information that we file with it into our registration statement
    on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    of which this prospectus supplement and the accompanying
    prospectus are a part, which means that we can disclose
    important information to you by referring you to those
    documents. The information incorporated by reference is an
    important part of this prospectus supplement and the
    accompanying prospectus. Information contained in this
    prospectus supplement modifies, supersedes and replaces
    information incorporated by reference into this prospectus
    supplement that we filed with the SEC prior to the date of this
    prospectus supplement, while information that we file later with
    the SEC and deemed to be incorporated by reference into this
    prospectus supplement will automatically update and supersede
    the information contained in this prospectus supplement. We
    incorporate by reference into the registration statement and
    this prospectus supplement the documents listed below, and any
    future filings we make with the SEC under Sections&#160;13(a),
    13(c), 14 or 15(d) of the Exchange Act after the date of this
    prospectus supplement (other than Current Reports or portions
    thereof furnished under Item&#160;2.02 or Item&#160;7.01 of
    <FONT style="white-space: nowrap">Form&#160;8-K):</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K,</FONT>
    for the fiscal year ended January&#160;31, 2009, filed with the
    SEC on April&#160;16, 2009;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our Quarterly Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarterly period ended April&#160;30, 2009, filed with
    the SEC on June&#160;9, 2009;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our Quarterly Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarterly period ended July&#160;31, 2009, filed with
    the SEC on September&#160;8, 2009;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our Quarterly Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarterly period ended October&#160;31, 2009, filed with
    the SEC on December&#160;4, 2009;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our Current Reports on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed with the SEC on February&#160;3, 2009, April&#160;7, 2009,
    April&#160;21, 2009, July&#160;23, 2009 and September&#160;16,
    2009.
</TD>
</TR>

</TABLE>
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    <BR>
    S-19
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    You may obtain a copy of all of the documents that have been
    incorporated by reference in this prospectus supplement,
    including exhibits to these documents, without charge by
    requesting them from us. If you would like to request documents
    from us, please send a request in writing or by telephone at the
    following address or telephone number:
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    G-III Apparel Group, Ltd.
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    512 Seventh Avenue
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    New York, NY 10018
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Attn: Chief Financial Officer
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Tel:
    <FONT style="white-space: nowrap">(212)&#160;403-0500</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Any statement contained in a document incorporated or deemed to
    be incorporated by reference in this prospectus supplement will
    be deemed modified, superseded or replaced for purposes of this
    prospectus supplement to the extent that a statement contained
    in this prospectus supplement or in any subsequently filed
    document that also is or is deemed to be incorporated by
    reference in this prospectus supplement modifies, supersedes or
    replaces such statement. Any statement so modified, superseded
    or replaced, will not be deemed, except as so modified,
    superseded or replaced, to constitute a part of this prospectus
    supplement.
</DIV>
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    <BR>
    S-20
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B>PROSPECTUS</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><FONT style="font-size: 14pt">$300,000,000</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <IMG src="y02712b2y0271201.gif" alt="APPAREL GROUP LOGO"><FONT style="font-size: 14pt">
    </FONT>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><FONT style="font-size: 14pt">Common Stock<BR>
    Preferred Stock<BR>
    Debt Securities<BR>
    Warrants<BR>
    Rights</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    This prospectus relates to common stock, preferred stock, debt
    securities, warrants and rights that we may offer and sell from
    time to time in one or more offerings up to a total dollar
    amount of $300,000,000 on terms to be determined at the time of
    sale. The debt securities, preferred stock and warrants may be
    convertible, exercisable or exchangeable for common or preferred
    stock or other securities of ours. We will provide specific
    terms of these securities in supplements to this prospectus. You
    should read this prospectus and any supplement carefully before
    you invest. This prospectus may not be used to offer and sell
    securities unless accompanied by a prospectus supplement for
    those securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Our common stock is traded on the Nasdaq Global Select Market
    under the symbol &#147;GIII.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    These securities may be sold directly, on a continuous or
    delayed basis, by us, through dealers or agents designated from
    time to time, to or through underwriters or through a
    combination of these methods. See &#147;Plan of
    Distribution&#148; in this prospectus. We may also describe the
    plan of distribution for any particular offering of these
    securities in any applicable prospectus supplement. If any
    agents, underwriters or dealers are involved in the sale of any
    securities in respect of which this prospectus is being
    delivered, we will disclose their names and the nature of our
    arrangements with them in a prospectus supplement. The net
    proceeds we expect to receive from any such sale will also be
    included in a prospectus supplement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 5%; font-size: 12pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B>Investing in our securities involves a high degree of risk.
    You should carefully consider the &#147;Risk Factors&#148;
    referred to on page&#160;3 of this prospectus, in any applicable
    prospectus supplement and the documents incorporated or deemed
    incorporated by reference in this prospectus before investing in
    our securities.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #3F6075"></CENTER><!-- callerid=999 iwidth=456 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B>Neither the Securities and Exchange Commission nor any state
    securities commission has approved or disapproved of these
    securities or passed upon the adequacy or accuracy of this
    prospectus. Any representation to the contrary is a criminal
    offense.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #3F6075"></CENTER><!-- callerid=999 iwidth=456 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The date of this prospectus is November&#160;2, 2009
</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">TABLE OF
    CONTENTS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left">
<!-- TOC -->
</DIV>

<DIV align="left">
<A name="tocpage"></A>
</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="97%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Page</FONT></B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#101'>About This Prospectus</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#102'>About G-III Apparel Group, Ltd</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#103'>Risk Factors</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#104'>Forward-Looking Statements</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#105'>Ratios of Earnings to Fixed Charges and Ratios of
    Earnings to Combined Fixed Charges and Preferred Stock
    Dividends</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#106'>Dividend Policy</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#107'>Use of Proceeds</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#108'>The Securities We May Offer</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#109'>Description of Capital Stock</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#110'>Description of Debt Securities</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#111'>Description of Warrants</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#112'>Description of Rights</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#113'>Plan of Distribution</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#114'>Experts</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#115'>Legal Matters</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#116'>Where You Can Find More Information</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#117'>Incorporation of Certain Documents By
    Reference</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #3F6075"></CENTER><!-- callerid=999 iwidth=456 length=84 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">IMPORTANT
    NOTICE ABOUT THE INFORMATION<BR>
    PRESENTED IN THIS PROSPECTUS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    You should rely only on the information contained or
    incorporated by reference in this prospectus or any applicable
    prospectus supplement. We have not authorized any other person
    to provide you with different information. If anyone provides
    you with different or inconsistent information, you should not
    rely on it. For further information, see the section of this
    prospectus entitled &#147;Where You Can Find More
    Information.&#148; We are not making an offer to sell these
    securities in any jurisdiction where the offer or sale is not
    permitted.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    You should not assume that the information appearing in this
    prospectus or any applicable prospectus supplement is accurate
    as of any date other than the date on the front cover of this
    prospectus or the applicable prospectus supplement, or that the
    information contained in any document incorporated by reference
    is accurate as of any date other than the date of the document
    incorporated by reference, regardless of the time of delivery of
    this prospectus or any prospectus supplement or any sale of a
    security. Our business, financial condition, results of
    operations and prospects may have changed since such dates.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='101'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">ABOUT
    THIS PROSPECTUS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    This prospectus is part of a registration statement on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    that we filed with the Securities and Exchange Commission, or
    the SEC, using a &#147;shelf&#148; registration process. Under
    this shelf registration process, we may sell any combination of
    the securities described in this prospectus in one or more
    offerings up to a total dollar amount of $300,000,000. This
    prospectus provides you with a general description of the
    securities we may offer. Each time we sell securities, we will
    provide a prospectus supplement that will contain specific
    information about the securities being offered and the terms of
    that offering. The prospectus supplement may also add to, update
    or change information contained in this prospectus. You should
    read both this prospectus and any prospectus supplement together
    with the additional information described under the heading
    &#147;Where You Can Find More Information&#148; carefully before
    making an investment decision.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The rules of the SEC allow us to incorporate by reference
    information into this prospectus. This means that important
    information is contained in other documents that are considered
    to be a part of this prospectus. Additionally, information that
    we file later with the SEC will automatically update and
    supersede this information. You should read this prospectus, any
    prospectus supplement and the information that is incorporated
    or deemed incorporated by reference in this prospectus. See
    &#147;Incorporation by Reference.&#148; The registration
    statement, including the exhibits and the documents incorporated
    or deemed incorporated in this prospectus can be read on the SEC
    website or at the SEC offices mentioned under the heading
    &#147;Where You Can Find Additional Information.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B>This prospectus may not be used to sell any securities unless
    accompanied by a prospectus supplement.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    In this prospectus, &#147;G-III,&#148; &#147;we,&#148;
    &#147;us,&#148; and &#147;our&#148; refer to G-III Apparel
    Group, Ltd., a Delaware corporation, together with its
    subsidiaries. References to fiscal years refer to the year ended
    or ending on January 31 of that year. For example, our fiscal
    year ended January&#160;31, 2009 is referred to as &#147;fiscal
    2009&#148;.
</DIV>

<A name='102'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">ABOUT
    G-III APPAREL GROUP, LTD.</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    G-III is a leading manufacturer and distributor of outerwear,
    dresses, sportswear and women&#146;s suits under licensed
    brands, our own brands and private label brands. G-III has
    fashion licenses under the Calvin Klein, Sean John, Kenneth
    Cole, Cole Haan, Guess?, Jones New York, Jessica Simpson, Nine
    West, Ellen Tracy, Tommy Hilfiger, Enyce, Levi&#146;s and
    Dockers brands and sports licenses with the National Football
    League, National Basketball Association, Major League Baseball,
    National Hockey League, Touch by Alyssa Milano and more than 100
    U.S.&#160;colleges and universities. G-III sells outerwear and
    handbags under our own Andrew&#160;Marc and Marc New York brands
    and has licensed these brands for women&#146;s footwear,
    men&#146;s accessories, women&#146;s handbags and men&#146;s
    cold weather accessories. Our other owned brands include
    Marvin&#160;Richards,
    <FONT style="white-space: nowrap">G-III,</FONT>
    Jessica Howard, Eliza J., Black Rivet, Siena Studio, Tannery
    West, G-III by Carl Banks and Winlit.
    <FONT style="white-space: nowrap">G-III</FONT> works
    with a diversified group of retailers in developing product
    lines to be sold under their proprietary private labels. G-III
    also operates 121 retail stores, of which 118 are outlet stores
    operated under the Wilsons Leather name.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We are a Delaware corporation that was formed in 1989. We and
    our predecessors have conducted our business since 1974. Our
    executive offices are located at 512 Seventh Avenue, New York,
    New York 10018 and our telephone number is
    <FONT style="white-space: nowrap">(212)&#160;403-0500.</FONT>
    Our website is
    <FONT style="white-space: nowrap">http://www.g-iii.com.</FONT>
    The information on our website is not part of this prospectus.
</DIV>

<A name='103'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">RISK
    FACTORS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Investing in our securities involves significant risks. Please
    see the risk factors under the heading &#147;Risk Factors&#148;
    in our most recent Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended January&#160;31, 2009, which is on file with
    the SEC and is incorporated by reference in this prospectus, and
    in the documents and reports that we file with the SEC after the
    date of this prospectus that are incorporated by reference into
    this prospectus, as well as any risks described in any
    applicable prospectus supplement. Before making an investment
    decision,
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    you should carefully consider these risks as well as other
    information we include or incorporate by reference in this
    prospectus and any prospectus supplement. The risks and
    uncertainties we have described are not the only ones facing our
    company. Additional risks and uncertainties not presently known
    to us or that we currently deem immaterial may also affect our
    business operations.
</DIV>

<A name='104'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">FORWARD-LOOKING
    STATEMENTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Statements in this prospectus (including the documents
    incorporated by reference) concerning our business outlook or
    future economic performance, anticipated revenues, expenses or
    other financial items, product introductions and plans and
    objectives related thereto, and statements concerning
    assumptions made or expectations as to any future events,
    conditions, performance or other matters, are
    &#147;forward-looking statements&#148; as that term is defined
    under the Federal securities laws. Forward-looking statements
    are subject to risks, uncertainties and other factors which
    could cause actual results to differ materially from those
    stated in such statements. Such risks, uncertainties and factors
    include, but are not limited to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    dependence on licensed product;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reliance on foreign manufacturers;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    risks of doing business abroad;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the current economic and credit crisis;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the nature of the apparel industry, including changing consumer
    demand and tastes;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    seasonality;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    risks of operating a retail business;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    customer acceptance of new products;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the impact of competitive products and pricing;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    dependence on existing management;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    possible disruption as a result of acquisitions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    general economic conditions;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    other risks detailed in our filings with the SEC.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We cannot guarantee that we actually will achieve the plans,
    intentions or expectations disclosed in our forward-looking
    statements and you should not place undue reliance on our
    forward-looking statements. There are a number of important
    factors that could cause our actual results to differ materially
    from those indicated by these forward-looking statements. These
    important factors include the factors that we identify in the
    documents we incorporate by reference in this prospectus, as
    well as other information we include or incorporate by reference
    in this prospectus and any prospectus supplement. See &#147;Risk
    Factors.&#148; You should read these factors and other
    cautionary statements made in this prospectus and any
    accompanying prospectus supplement, and in the documents we
    incorporate by reference, as being applicable to all related
    forward-looking statements wherever they appear in the
    prospectus and any accompanying prospectus supplement, and in
    the documents incorporated by reference. We do not assume any
    obligation to update any forward-looking statements made by us,
    except as required by law.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='105'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">RATIOS OF
    EARNINGS TO FIXED CHARGES<BR>
    AND RATIOS OF EARNINGS TO<BR>
    COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The following table sets forth the ratio of earnings to fixed
    charges for each of the last five fiscal years and for the six
    months ended July&#160;31, 2009. In calculating these ratios,
    earnings include pre-tax income or loss from continuing
    operations plus fixed charges. Fixed charges include interest
    expensed and estimated interest within rental expense. We have
    never issued shares of preferred stock and, accordingly, have
    not paid any dividends on shares of preferred stock during the
    periods indicated, therefore the ratio of earnings to fixed
    charges and preferred stock dividends are identical to the
    ratios presented below for all such periods.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="59%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="19" align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="color: #3F6075">Six Months<BR>
    </FONT></B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="19" align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Fiscal Year Ended
    January&#160;31,</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">Ended</FONT></B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">2005</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">2006</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">2007</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">2008</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">2009</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #3F6075">
    <B><FONT style="color: #3F6075">July&#160;31, 2009</FONT></B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Ratio of Earnings to Fixed Charges
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #3F6075"></DIV><!-- callerid=999 iwidth=456 length=60 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Earnings were insufficient to cover fixed charges by
    $9.4&#160;million for the year ended January&#160;31, 2009 and
    $16.5&#160;million for the six month period ended July&#160;31,
    2009. Pre-tax loss for the year ended January&#160;31, 2009
    includes non-cash impairment charges of $33.5&#160;million.</TD>
</TR>

</TABLE>

<A name='106'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">DIVIDEND
    POLICY</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We have never declared or paid cash dividends on our common
    stock. We currently intend to retain all available funds and any
    future earnings for use in the operation of our business and do
    not anticipate paying any cash dividends in the foreseeable
    future. Any future determination to declare cash dividends will
    be made at the discretion of our board of directors, subject to
    compliance with covenants under any existing financing
    agreements, which may restrict or limit our ability to declare
    or pay dividends, and will depend on our financial condition,
    results of operations, capital requirements, general business
    conditions, and other factors that our board of directors may
    deem relevant. We issued a stock dividend in connection with our
    <FONT style="white-space: nowrap">3-for-2</FONT>
    stock split, which was effected in the form of a common stock
    dividend effective on March&#160;28, 2006.
</DIV>

<A name='107'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">USE OF
    PROCEEDS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We currently intend to use the estimated net proceeds from the
    sale of these securities for working capital and other general
    corporate purposes. Working capital and other general corporate
    purposes may include repaying debt, making capital expenditures,
    funding general and administrative expenses and any other
    purpose that we may specify in any prospectus supplement. We
    have not yet determined the amount of net proceeds to be used
    specifically for any of the foregoing purposes. Accordingly, our
    management will have significant discretion and flexibility in
    applying the net proceeds from the sale of securities sold
    pursuant to this prospectus and the applicable prospectus
    supplement. Pending any use, as described above, we intend to
    invest the net proceeds in high-quality, short-term,
    interest-bearing securities. Our plans to use the estimated net
    proceeds from the sale of these securities may change, and if
    they do, we will update this information in a prospectus
    supplement.
</DIV>

<A name='108'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">THE
    SECURITIES WE MAY OFFER</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The descriptions of the securities contained in this prospectus,
    together with the applicable prospectus supplements, summarize
    the material terms and provisions of the various types of
    securities that we may offer. We will describe in the applicable
    prospectus supplement relating to any securities the particular
    terms of the securities offered by that prospectus supplement.
    If we so indicate in the applicable prospectus supplement, the
    terms of the securities may differ from the terms we have
    summarized below. We will also include in the prospectus
    supplement information, where applicable, about material United
    States federal income tax considerations relating to the
    securities, and the securities exchange, if any, on which the
    securities will be listed.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We may sell from time to time, in one or more offerings:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    common stock;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    preferred stock;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    debt securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    warrants to purchase common stock, preferred stock or debt
    securities;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    rights to purchase common stock, preferred stock or warrants.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    In this prospectus, we refer to the common stock, preferred
    stock, debt securities, warrants and rights collectively as
    &#147;securities.&#148; The total dollar amount of all
    securities that we may issue will not exceed $300,000,000.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    This prospectus may not be used to consummate a sale of
    securities unless it is accompanied by a prospectus supplement.
</DIV>

<A name='109'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF CAPITAL STOCK</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Authorized
    Capital Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Our certificate of incorporation authorizes the issuance of
    41,000,000&#160;shares of all classes of stock, consisting of
    40,000,000&#160;shares of common stock, $.01&#160;par value per
    share, and 1,000,000&#160;shares of preferred stock,
    $.01&#160;par value per share. The preferred stock may be issued
    in one or more series with such terms as the board of directors
    may determine. On March&#160;28, 2006, we effected a
    <FONT style="white-space: nowrap">three-for-two</FONT>
    stock split of our common stock, which was effected in the form
    of a stock dividend. As of October&#160;22, 2009, we had
    16,862,069&#160;shares of outstanding common stock held by 47
    holders of record.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We do not have any shares of preferred stock outstanding.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Common
    Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Holders of our common stock are entitled to one vote for each
    share held by them on all matters on which stockholders are
    entitled to vote, including the election of directors, and do
    not have cumulative voting rights. Subject to any preferential
    rights of any then outstanding preferred stock, holders of our
    common stock are entitled to receive, as, when and if declared
    by our board of directors from time to time, such dividends and
    other distributions in cash, stock or property from our assets
    or funds legally available for such purposes. In the event of
    any distribution of capital assets or
    <FONT style="white-space: nowrap">winding-up</FONT>
    of our company, whether voluntary or involuntary, holders of our
    common stock are entitled to receive pro rata the assets
    remaining after creditors have been paid in full. There are no
    preemptive, subscription or conversion rights applicable to our
    common stock. The outstanding shares of our common stock are
    duly authorized, validly issued, and fully paid.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Preferred
    Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Our board of directors has the authority, without stockholder
    approval, to issue up to 1,000,000&#160;shares of preferred
    stock in one or more series. Our board also has the authority to
    fix the designations, powers, preferences, privileges and
    relative, participating, optional or special rights and the
    qualifications, limitations or restrictions of any series of
    preferred stock issued, including dividend rights, conversion
    rights, voting rights, or other rights, any or all of which may
    be greater than the rights of the common stock. Preferred stock
    could be issued with terms that could delay or prevent a change
    in control of our company or make removal of management more
    difficult. In addition, the issuance of preferred stock may
    decrease the market price of the common stock and may adversely
    affect the voting and other rights of the holders of common
    stock.
</DIV>
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    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    If we decide to issue any preferred stock pursuant to this
    prospectus, we will describe in a prospectus supplement the
    terms of the preferred stock, including, if applicable, the
    following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the title of the series and stated value;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the number of shares of the series of preferred stock offered,
    the liquidation preference per share, if applicable, and the
    offering price;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the applicable dividend rate(s) or amount(s), period(s) and
    payment date(s) or method(s) of calculation thereof;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the date from which dividends on the preferred stock will
    accumulate, if applicable;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any procedures for auction and remarketing;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any provisions for a sinking fund;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any applicable provision for redemption and the price or prices,
    terms and conditions on which preferred stock may be redeemed;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any securities exchange listing;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any voting rights and powers;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the terms and conditions, if applicable, of conversion into
    shares of our common stock, including the conversion price or
    rate or manner of calculation thereof;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a discussion of any material U.S.&#160;federal income tax
    considerations;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the relative ranking and preference as to dividend rights and
    rights upon our liquidation, dissolution or the winding up of
    our affairs;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any limitations on issuance of any series of preferred stock
    ranking senior to or on a parity with such series of preferred
    stock as to dividend rights and rights upon our liquidation,
    dissolution or the winding up of our affairs;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any other specific terms, preferences, rights, limitations or
    restrictions of such series of preferred stock.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Anti-Takeover
    Effects Of Certain Provisions Of Our Certificate Of
    Incorporation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Our certificate of incorporation contains provisions that could
    make it more difficult to acquire control of our company. A
    description of these provisions is set forth below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Authorized but Unissued Shares of Common Stock and Preferred
    Stock.</I>&#160;&#160;The authorized but unissued shares of
    common stock and preferred stock are available for future
    issuance without stockholder approval, unless such approval is
    required by applicable law or the rules of any stock exchange on
    which our securities may be listed. These additional shares may
    be utilized for a variety of corporate purposes, including
    future public offerings to raise additional capital, corporate
    acquisitions and employee benefit plans. The existence of
    authorized but unissued shares of common stock and preferred
    stock could impede the completion of a merger, tender offer or
    other takeover attempt that some, or a majority, of the
    stockholders might believe to be in their best interests or in
    which stockholders might receive a premium for their stock over
    the then prevailing market price of the stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Special Stockholder Meetings.</I>&#160;&#160;Our bylaws
    provide that special meetings of the stockholders for any
    purpose or purposes, unless required by law, may be called by
    the president or secretary and shall be called by the chairman,
    president or secretary at the request in writing of a majority
    of the board of directors, or at the request in writing of
    stockholders owning a majority in amount of our entire capital
    stock issued and outstanding and entitled to vote.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <I>Advanced Notice Procedure.</I>&#160;&#160;Our bylaws provide
    an advance notice procedure for special stockholder meetings.
    Written notice of a special meeting stating the place, date and
    hour of the meeting and the purpose or purposes for which the
    meeting is called must be given not less than ten nor more than
    sixty days before
</DIV>
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    <BR>
    7
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    the date of the meeting, to each stockholder entitled to vote at
    such meeting. These advance notice provisions may have the
    effect of precluding the conduct of certain business at a
    meeting if the proper procedures are not followed or may
    discourage or deter a potential acquirer from conducting a
    solicitation of proxies to elect its own slate of directors or
    otherwise attempt to obtain control of us.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Anti-Takeover
    Provisions Of Delaware Law</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    A number of provisions under Delaware law may make it more
    difficult to acquire control of us. These provisions could
    deprive the stockholders of opportunities to realize a premium
    on the shares of common stock owned by them. In addition, these
    provisions may adversely affect the prevailing market price of
    the common stock. These provisions are intended to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    enhance the likelihood of continuity and stability in the
    composition of the board and in the policies formulated by the
    board;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    discourage certain types of transactions which may involve an
    actual or threatened change in control of our company;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    discourage certain tactics that may be used in proxy
    fights;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    encourage persons seeking to acquire control of our company to
    consult first with the board of directors to negotiate the terms
    of any proposed business combination or offer.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We are subject to the provisions of Section&#160;203 of the
    Delaware General Corporation Law, an anti-takeover law. Subject
    to exceptions, the statute prohibits a publicly-held Delaware
    corporation from engaging in a &#147;business combination&#148;
    with an &#147;interested stockholder&#148; for a period of three
    years after the date of the transaction in which the person
    became an interested stockholder, unless:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Prior to such date, the board of directors of the corporation
    approved either the business combination or the transaction
    which resulted in the stockholder becoming an interested
    stockholder;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Upon consummation of the transaction which resulted in the
    stockholder becoming an interested stockholder, the interested
    stockholder owned at least 85% of the voting stock of the
    corporation outstanding at the time the transaction commenced,
    excluding for purposes of determining the number of shares
    outstanding, those shares owned (1)&#160;by persons who are
    directors and also officers and (2)&#160;by employee stock plans
    in which employee participants do not have the right to
    determine confidentially whether shares held subject to the plan
    will be tendered in a tender or exchange offer;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    On or after such date, the business combination is approved by
    the board of directors and authorized at an annual or special
    meeting of stockholders and not by written consent, by the
    affirmative vote of at least
    66<FONT style="vertical-align: text-top; font-size: 70%;">2</FONT>/<FONT style="font-size: 70%;">3</FONT>%
    of the outstanding voting stock which is not owned by the
    interested stockholder.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    For purposes of Section&#160;203, a &#147;business
    combination&#148; includes a merger, asset sale or other
    transaction resulting in a financial benefit to the interested
    stockholder, with an &#147;interested stockholder&#148; being
    defined as a person who, together with affiliates and
    associates, owns, or within three years prior to the date of
    determination whether the person is an &#147;interested
    stockholder,&#148; did own, 15% or more of the
    corporation&#146;s voting stock.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Limitation
    On Liability And Indemnification Matters</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Our certificate of incorporation and bylaws provide for the
    indemnification of our officers and directors to the fullest
    extent permitted under Delaware law.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Transfer
    Agent And Registrar</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The transfer agent and registrar for our common stock is Wells
    Fargo Bank, National Association.
</DIV>
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    <BR>
    8
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Nasdaq
    Stock Market Listing</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Our common stock is quoted on the Nasdaq Global Select Market
    under the trading symbol &#147;GIII&#148;.
</DIV>

<A name='110'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF DEBT SECURITIES</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Please note that in this section entitled &#147;Description of
    Debt Securities,&#148; references to &#147;holders&#148; mean
    those who own our debt securities registered in their own names
    on the books that we or the trustee maintain for this purpose,
    and not those who own beneficial interests in debt securities
    registered in street name or in debt securities issued in
    book-entry form through one or more depositaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The following description summarizes the material provisions of
    our debt securities. The debt securities are to be issued under
    a senior debt securities indenture or subordinated debt
    securities indenture to be entered into between us and a trustee
    that we will select. The forms of these indentures have been
    filed with the SEC as exhibits to the registration statement of
    which this prospectus is a part. This description is not
    complete and is subject to, and is qualified in its entirety by
    reference to, the forms of indentures and the
    Trust&#160;Indenture Act of 1939, as amended, which we refer to
    as the &#147;Trust&#160;Indenture Act&#148;. The indentures will
    be qualified under the Trust&#160;Indenture Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The particular terms of each series of debt securities that we
    may offer from time to time will be established in or under a
    resolution of our board of directors and set forth in an
    officers&#146; certificate or a supplemental indenture, and in a
    form of debt security with respect to that series. We will file
    the applicable executed indenture, such officers&#146;
    certificate or supplemental indenture and the form of debt
    security with the SEC. The prospectus supplement with respect to
    the series of debt securities we are offering will describe
    these particular terms and will indicate the extent to which the
    general terms described below may not apply to that series of
    debt securities. Whenever particular defined terms of the
    applicable form of indenture, as supplemented or amended from
    time to time, are referred to in this prospectus or a prospectus
    supplement, those defined terms are incorporated in this
    prospectus or such prospectus supplement by reference.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">General</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Our debt securities will be our direct obligations, which may be
    secured or unsecured, may be senior or subordinated and may be
    convertible into shares of our common stock or preferred stock.
    The indentures do not limit the amount of debt securities that
    we may issue and permit us to issue debt securities from time to
    time in different series, each of which may have different
    terms. Debt securities issued under the indentures will be
    issued as part of a series that has been established by us under
    the indenture.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We expect that the prospectus supplement relating to the
    particular series of debt securities we are offering will
    include the following information concerning those debt
    securities:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the title of the series;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the aggregate principal amount;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the issue price or prices, expressed as a percentage of the
    aggregate principal amount of the debt securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any limit on the aggregate principal amount;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the date or dates on which principal is payable;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the interest rate or rates (which may be fixed or variable) or,
    if applicable, the method used to determine such rate or rates;
    the date or dates from which interest, if any, will be payable
    and any regular record date for the interest payable;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the place or places where principal and, if applicable, premium
    and interest, is payable;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the terms and conditions upon which we may, or the holders may
    require us to, redeem or repurchase the debt securities;
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    9
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the denominations in which such debt securities may be issuable,
    if other than denominations of $1,000 or any integral multiple
    of that number;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    whether the debt securities are to be issuable in the form of
    certificated debt securities or global debt securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the portion of principal amount that will be payable upon
    declaration of acceleration of the maturity date if other than
    the principal amount of the debt securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the currency of denomination;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the designation of the currency, currencies or currency units in
    which payment of principal and, if applicable, premium and
    interest, will be made;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    if payments of principal and, if applicable, premium or
    interest, on the debt securities are to be made in one or more
    currencies or currency units other than the currency of
    denomination, the manner in which the exchange rate with respect
    to such payments will be determined;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    if amounts of principal and, if applicable, premium and interest
    may be determined by reference to an index based on a currency
    or currencies or by reference to a commodity, commodity index,
    stock exchange index or financial index, then the manner in
    which such amounts will be determined;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the provisions, if any, relating to any collateral provided for
    such debt securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the provisions, if any, with respect to amortization;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any addition to or change in the covenants
    <FONT style="white-space: nowrap">and/or</FONT> the
    acceleration provisions described in this prospectus or in the
    indenture;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any events of default, if not otherwise described below under
    &#147;&#151;&#160;Events of Default, Notice and Waiver&#148;;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the terms and conditions, if any, for conversion into or
    exchange for shares of common stock or preferred stock;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any terms and conditions restricting the declaration of
    dividends or requiring the maintenance of any asset ratio or the
    creation or maintenance of reserves;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any provisions restricting the incurrence of additional debt or
    the issuance of additional securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any depositaries, interest rate calculation agents, exchange
    rate calculation agents or other agents;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the terms and conditions, if any, upon which the debt securities
    shall be subordinated in right of payment to our other
    indebtedness;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    whether the debt security will be defeasible;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any other terms of the debt securities.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Conversion
    Rights</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The terms, if any, on which debt securities of a series may be
    exchanged for or converted into common stock or preferred stock,
    debt securities of another series or other securities will be
    set forth in the prospectus supplement relating to the series.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Global
    Debt Securities</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Unless we specify otherwise in the applicable prospectus
    supplement, the registered debt securities of a series will be
    issued only in the form of one or more fully registered global
    securities that will be deposited with a depositary or with a
    nominee for a depositary identified in the prospectus supplement
    relating to the series and registered in the name of the
    depositary or a nominee of the depository. Ownership of
    beneficial
</DIV>
<!-- XBRL Paragraph Pagebreak -->
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    10
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    interests in a registered global security will be limited to
    persons, or participants, that have accounts with the depositary
    for the registered global security or persons that may hold
    interests through participants.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Those who own beneficial interests in a global debt security
    will do so through participants in the depositary&#146;s
    securities clearance system, and the rights of those indirect
    owners will be governed solely by the applicable procedures of
    the depositary and its participants.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Payments
    on Debt Securities</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We will make payments on our debt securities at the office or
    agency we will maintain for that purpose, which will be the
    Corporate Trust&#160;Office of the trustee in New York, New York
    unless we indicate otherwise in the prospectus supplement, or at
    such other places and at the respective times and in the manner
    as we designate in the prospectus supplement.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Subordination
    of Subordinated Debt Securities</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Any debt securities issued under our subordinated indenture will
    be subordinate and junior in right of payment to all of our
    other indebtedness, except any of our indebtedness the terms of
    which expressly provide that repayment of that indebtedness is
    subordinate and junior in right of payment to the debt
    securities issued under our subordinated indenture. The
    indentures in the forms initially filed as exhibits to the
    registration statement of which this prospectus is a part do not
    limit the amount of indebtedness which we may incur, including
    senior indebtedness or subordinated indebtedness, and do not
    limit us from issuing any other debt.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    As of October&#160;22, 2009, our outstanding indebtedness
    consisted of $187.0&#160;million outstanding under a financing
    agreement with JPMorgan Chase Bank N.A., as administrative agent
    for a consortium of banks. The financing agreement is a senior
    secured revolving credit facility providing for borrowings in
    the aggregate principal amount of up to $250&#160;million. We
    will update the amount of our debt outstanding which is senior,
    equal in rank and subordinated to any series of indebtedness
    that we issue under our senior indenture or subordinated
    indenture in the prospectus supplement relating to any offering
    of debt securities.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Covenants</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Unless we otherwise specify in the prospectus supplement, there
    are not any covenants in either the senior debt securities
    indenture, the subordinated debt securities indenture or our
    debt securities that would protect you against a highly
    leveraged or other transaction involving us that may adversely
    affect you as a holder of our debt securities. If there are
    provisions that offer such protection, they will be described in
    the prospectus supplement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We may not consolidate or merge or sell or convey all or
    substantially all of our assets unless the surviving person, if
    it is not us, is a domestic person and assumes our obligations
    under our debt securities and the indenture and unless, under
    the indenture, there is no event of default (defined below)
    immediately after the transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Any additional covenants that we agree to with respect to a
    series of the debt securities will be set forth in the
    prospectus supplement or related pricing supplement.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Events of
    Default, Notice and Waiver</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    An event of default in respect of any series of our debt
    securities means:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    (1)&#160;our failure to pay any interest on that series within
    30&#160;days of when that interest is due;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    (2)&#160;our failure to pay any principal, sinking fund
    installment or analogous obligation on that series when due;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    (3)&#160;our failure to perform any other agreement in our debt
    securities of that series or the indenture, other than an
    agreement relating solely to another series of our debt
    securities, for 90&#160;days after written notice of the breach
    or default;
</DIV>
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    <BR>
    11
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    (4)&#160;acceleration of our indebtedness aggregating more than
    $5,000,000;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    (5)&#160;our failure to discharge any judgment of $5,000,000 or
    more within 60&#160;days after the judgment becomes final and
    nonappealable;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    (6)&#160;certain events of our bankruptcy, insolvency and
    reorganization.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    If an event of default described in (1), (2)&#160;or
    (3)&#160;above (if the event of default under (3)&#160;above is
    with respect to less than all series of debt securities then
    outstanding) occurs and is continuing, either the trustee or the
    holders of 25% in principal amount of the outstanding debt
    securities of a series may declare the principal and accrued
    interest, if any, of all securities of that series to be due and
    payable. If an event default described in (3) (if the event of
    default under (3)&#160;above is with respect to all series of
    securities then outstanding), (4)&#160;or (5)&#160;above occurs
    and is continuing, either the trustee or the holders of 25% in
    principal amount of the outstanding debt securities of all
    series may declare the principal and accrued interest, if any,
    of all the outstanding debt securities to be due and payable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Within 90&#160;days after a default in respect of any series of
    our debt securities, the trustee must give to the holders of
    such series notice of all uncured and unwaived defaults by us
    known to it. However, except in the case of default in payment,
    the trustee may withhold such notice if it in good faith
    determines that withholding is in the interest of such holders.
    The term &#147;default&#148; means, for this purpose, the
    happening of any event of default, disregarding any grace period
    or notice requirement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Before the trustee is required to exercise rights under the
    indenture at the request, order or direction of holders, it is
    entitled to be indemnified by such holders, subject to its duty,
    during an event of default, to act with the required standard of
    care.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    If any event of default has occurred, the holders of a majority
    in principal amount of the outstanding debt securities of any
    series (with each series voting as a separate class) may direct
    the time, method and place of conducting proceedings for
    remedies available to the trustee, or exercising any trust or
    power conferred on the trustee, in respect of that series.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We must file an annual certificate with the trustee that we are
    in compliance with conditions and covenants under the indenture.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The holders of a majority in principal amount of the outstanding
    debt securities of a series, on behalf of the holders of all
    debt securities of that series, or the holders of a majority of
    all outstanding debt securities voting as a single class, on
    behalf of the holders of all outstanding debt securities may
    waive some past defaults or events of default, or compliance
    with certain provisions of the indenture, but may not waive
    among other things an uncured default in payment of interest or
    principal.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Modification
    or Amendment of the Indenture</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    If we receive the consent of the holders of a majority in
    principal amount of the outstanding debt securities affected, we
    may enter into supplemental indentures with the trustee that
    would:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    add, change or eliminate provisions in the applicable
    indenture;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    change the rights of the holders of our debt securities.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    However, unless we receive the consent of all of the affected
    holders, we may not enter into supplemental indentures that
    would, with respect to the debt securities of those holders:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    change the final maturity;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduce the principal amount or any premium;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduce the interest rate or extend the time of payment of
    interest;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    in the case of subordinated debt securities, modifying the
    subordination provisions in a manner that is adverse to holders
    of the subordinated debt securities;
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    12
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    in the case of senior debt securities, modifying the securities
    to subordinate the securities to other indebtedness;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduce any amount payable on redemption or provable in
    bankruptcy;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduce the amount of the principal of an original issue discount
    security that would be payable on acceleration;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    impair or affect the right of any holder to institute suit for
    payment;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    change any right of the holder to require repayment;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduce the requirement for majority approval of supplemental
    indentures.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Satisfaction
    and Discharge of Indenture</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The applicable indenture, with respect to any and all series of
    debt securities (except for certain specified surviving
    obligations including, among other things, our obligation to pay
    the principal of or interest, if any, on any debt securities),
    will be discharged and cancelled upon the satisfaction of
    certain conditions, including the payment in full of the
    principal of, and interest, if any, on all of the debt
    securities of that series or the deposit with the trustee of an
    amount of cash sufficient for the payment or redemption, in
    accordance with the indenture.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Defeasance</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The indentures include provisions allowing defeasance that we
    may choose to apply to our debt securities of any series. If we
    do so, we must deposit with the trustee or another trustee money
    or U.S.&#160;government obligations (or combination thereof)
    sufficient to make all payments on those debt securities. If we
    make such a deposit with respect to your debt securities, we may
    elect:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to be discharged from all our obligations on your debt
    securities, except for our obligations to register transfers and
    exchanges, to replace temporary or mutilated, destroyed, lost or
    stolen debt securities, to maintain an office or agency in
    respect of the debt securities and to hold moneys for payment in
    trust (&#147;defeasance&#148;);&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to be released from covenants with respect to your debt
    securities that we may specify in accordance with the indenture
    (&#147;covenant defeasance&#148;).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    In order to exercise defeasance, we must deliver to the trustee
    an opinion of our counsel stating that we have received, or that
    there has been a publication of, an Internal Revenue Service
    ruling, or that there has been a change in applicable
    U.S.&#160;federal income tax law, and that as a result of such
    ruling or change in law, the holders of our debt securities will
    not recognize income, gain or loss for U.S.&#160;federal income
    tax purposes as a result of such defeasance and will be subject
    to U.S.&#160;federal income tax on the same amounts, in the same
    manner and at the same time as would have been the case if such
    defeasance had not occurred. In order to exercise covenant
    defeasance, we must deliver to the trustee an opinion of our
    counsel stating that the holders of our debt securities will not
    recognize income, gain or loss for U.S.&#160;federal income tax
    purposes as a result of such covenant defeasance and will be
    subject to U.S.&#160;federal income tax in the same amounts, in
    the same manner and at the same time as would have been the case
    if such covenant defeasance had not occurred. There are
    additional conditions to defeasance or covenant defeasance which
    are described in the applicable indenture.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Governing
    Law and Consent to Jurisdiction</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The indentures and the debt securities issued thereunder will be
    governed by and construed in accordance with the laws of the
    State of New York without regard to conflicts of laws.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    13
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Concerning
    the Trustee</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The indentures contain limitations on the rights of the trustee
    should it become a creditor of G-III, to obtain payment of
    claims in certain cases, or to realize on certain property
    received in respect of any such claim, as security or otherwise.
    The trustee will be permitted to engage in other transactions
    with us. However, if the trustee acquires any conflicting
    interest it must eliminate such conflict or resign or otherwise
    comply with the Trust&#160;Indenture Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The indentures provide that, in case an event of default should
    occur and be continuing, the trustee will be required to use the
    degree of care and skill of a prudent person in the conduct of
    his or her own affairs in the exercise of its powers.
</DIV>

<A name='111'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF WARRANTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We may issue warrants for the purchase of common stock,
    preferred stock or debt securities. Warrants may be issued
    independently or together with common stock, preferred stock,
    debt securities or rights, and the warrants may be attached to
    or separate from such securities. We may issue warrants directly
    or under a warrant agreement to be entered into between us and a
    warrant agent. We will name any warrant agent in the applicable
    prospectus supplement. Any warrant agent will act solely as our
    agent in connection with the warrants of a particular series and
    will not assume any obligation or relationship of agency or
    trust for or with any holders or beneficial owners of warrants.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The following is a description of the general terms and
    provisions of any warrants we may issue and may not contain all
    the information that is important to you. You can access
    complete information by referring to the applicable prospectus
    supplement. In the applicable prospectus supplement, we will
    describe the terms of the warrants and any applicable warrant
    agreement, including, where applicable, the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the offering price and aggregate number of warrants offered;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the designation and terms of the securities with which the
    warrants are issued and the number of warrants issued with each
    such security;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the date on and after which the warrants and the related
    securities will be separately transferable;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the number of shares of common stock or preferred stock or
    principal amounts of debt securities, as the case may be,
    purchasable upon the exercise of one warrant and the price at
    which these securities may be purchased upon such exercise;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the effect of any merger, consolidation, sale or other
    disposition of our business on the warrant agreement and the
    warrants;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the terms of any rights to redeem or call the warrants;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any provisions for changes to or adjustments in the exercise
    price or number of securities issuable upon exercise of the
    warrants;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the dates on which the right to exercise the warrants will
    commence and expire;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the manner in which the warrant agreement and warrants may be
    modified;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a discussion of any material U.S.&#160;federal income tax
    considerations of holding or exercising the warrants;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the terms of the securities issuable upon exercise of the
    warrants;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any other specific terms, preferences, rights or limitations of
    or restrictions on the warrants.
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    14
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='112'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF RIGHTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We may issue rights to purchase common stock, preferred stock or
    warrants that we may offer to our securityholders. The rights
    may or may not be transferable by the persons purchasing or
    receiving the rights. In connection with any rights offering, we
    may enter into a standby underwriting or other arrangement with
    one or more underwriters or other persons pursuant to which such
    underwriters or other persons would purchase any offered
    securities remaining unsubscribed for after such rights
    offering. Each series of rights will be issued under a separate
    rights agent agreement to be entered into between us and a bank
    or trust company, as rights agent, that we will name in the
    applicable prospectus supplement. The rights agent will act
    solely as our agent in connection with the rights and will not
    assume any obligation or relationship of agency or trust for or
    with any holders of rights certificates or beneficial owners of
    rights.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The prospectus supplement relating to any rights that we offer
    will include specific terms relating to the offering, including,
    among other matters:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the date of determining the security holders entitled to the
    rights distribution;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the aggregate number of rights issued and the aggregate number
    of shares of common stock or preferred stock or warrants
    purchasable upon exercise of the rights;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the exercise price;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the conditions to completion of the rights offering;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the date on which the right to exercise the rights will commence
    and the date on which the rights will expire;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any applicable federal income tax considerations.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Each right would entitle the holder of the rights to purchase
    for cash the amount of shares of common stock or preferred stock
    or warrants at the exercise price set forth in the applicable
    prospectus supplement. Rights may be exercised at any time up to
    the close of business on the expiration date for the rights
    provided in the applicable prospectus supplement. After the
    close of business on the expiration date, all unexercised rights
    will become void.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    If less than all of the rights issued in any rights offering are
    exercised, we may offer any unsubscribed securities directly to
    persons other than our security holders, to or through agents,
    underwriters or dealers or through a combination of such
    methods, including pursuant to standby arrangements, as
    described in the applicable prospectus supplement.
</DIV>

<A name='113'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PLAN OF
    DISTRIBUTION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We may sell the securities being offered hereby in one or more
    of the following ways from time to time:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    through agents to the public or to investors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to one or more underwriters or dealers for resale to the public
    or to investors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    in &#147;at the market offerings,&#148; within the meaning of
    Rule&#160;415(a)(4) of the Securities Act of 1933, as amended,
    to or through a market maker or into an existing trading market,
    or an exchange or otherwise;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    directly to investors in privately negotiated
    transactions;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    through a combination of these methods of sale.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The securities that we distribute by any of these methods may be
    sold, in one or more transactions, at:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a fixed price or prices, which may be changed;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    market prices prevailing at the time of sale;
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    15
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    prices related to prevailing market prices;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    negotiated prices.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We will set forth in a prospectus supplement the terms of the
    offering of our securities, which will include, if applicable:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the name or names of any agents or underwriters;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the purchase price of our securities being offered and the
    proceeds we will receive from the sale;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any over-allotment options under which underwriters may purchase
    additional securities from us;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any agency fees or underwriting discounts and commissions and
    other items constituting agents&#146; or underwriters&#146;
    compensation;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the public offering price;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any discounts or concessions allowed or reallowed or paid to
    dealers;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any securities exchanges on which such common stock may be
    listed.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Underwriters</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Underwriters, dealers and agents that participate in the
    distribution of the securities may be underwriters as defined in
    the Securities Act and any discounts or commissions they receive
    from us and any profit on their resale of the securities may be
    treated as underwriting discounts and commissions under the
    Securities Act. We will identify in the applicable prospectus
    supplement any underwriters, dealers or agents and will describe
    their compensation. We may have agreements with the
    underwriters, dealers and agents to indemnify them against
    specified civil liabilities, including liabilities under the
    Securities Act. Underwriters, dealers and agents may engage in
    transactions with or perform services for us or our subsidiaries
    in the ordinary course of their businesses.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    If we use underwriters for a sale of securities, the
    underwriters will acquire the securities for their own account.
    The underwriters may resell the securities in one or more
    transactions, including negotiated transactions, at a fixed
    public offering price or at varying prices determined at the
    time of sale. The obligations of the underwriters to purchase
    the securities will be subject to the conditions set forth in
    the applicable underwriting agreement. The underwriters will be
    obligated to purchase all the securities offered if they
    purchase any of the securities offered. We may change from time
    to time any initial public offering price and any discounts or
    concessions the underwriters allow or reallow or pay to dealers.
    We may use underwriters with whom we have a material
    relationship. We will describe in the prospectus supplement
    naming the underwriters the nature of any such relationship.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Agents</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We may designate agents who agree to use their reasonable
    efforts to solicit purchases for the period of their appointment
    or to sell securities on a continuing basis.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Direct
    Sales</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We may also sell securities directly to one or more purchasers
    without using underwriters or agents.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Trading
    Markets and Listing of Securities</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Unless otherwise specified in the applicable prospectus
    supplement, each class or series of securities will be a new
    issue with no established trading market, other than our common
    stock, which is traded on the Nasdaq Global Select Market. We
    may elect to list any other class or series of securities on any
    exchange, but we are not obligated to do so. It is possible that
    one or more underwriters may make a market in a class or series
    of securities, but the underwriters will not be obligated to do
    so and may discontinue any market
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    16
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    making at any time without notice. We cannot give any assurance
    as to the liquidity of the trading market for any of the
    securities.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Stabilization
    Activities</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    In connection with an offering, an underwriter may purchase and
    sell securities in the open market. These transactions may
    include short sales, stabilizing transactions and purchases to
    cover positions created by short sales. Shorts sales involve the
    sale by the underwriters of a greater number of securities than
    they are required to purchase in the offering.
    &#147;Covered&#148; short sales are sales made in an amount not
    greater than the underwriters&#146; option to purchase
    additional securities from us, if any, in the offering. If the
    underwriters have an over-allotment option to purchase
    additional securities from us, the underwriters may close out
    any covered short position by either exercising their
    over-allotment option or purchasing securities in the open
    market. In determining the source of securities to close out the
    covered short position, the underwriters may consider, among
    other things, the price of securities available for purchase in
    the open market as compared to the price at which they may
    purchase securities through the over-allotment option.
    &#147;Naked&#148; short sales are any sales in excess of such
    option or where the underwriters do not have an over-allotment
    option. The underwriters must close out any naked short position
    by purchasing securities in the open market. A naked short
    position is more likely to be created if the underwriters are
    concerned that there may be downward pressure on the price of
    the securities in the open market after pricing that could
    adversely affect investors who purchase in the offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Accordingly, to cover these short sales positions or to
    otherwise stabilize or maintain the price of the securities, the
    underwriters may bid for or purchase securities in the open
    market and may impose penalty bids. If penalty bids are imposed,
    selling concessions allowed to syndicate members or other
    broker-dealers participating in the offering are reclaimed if
    securities previously distributed in the offering are
    repurchased, whether in connection with stabilization
    transactions or otherwise. The effect of these transactions may
    be to stabilize or maintain the market price of the securities
    at a level above that which might otherwise prevail in the open
    market. The impositions of a penalty bid may also effect the
    price of the securities to the extent that it discourages resale
    of the securities. The magnitude or effect of any stabilization
    or other transactions is uncertain. These transactions may be
    effected on the Nasdaq Global Select Market or otherwise and, if
    commenced, may be discontinued at any time.
</DIV>

<A name='114'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXPERTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The consolidated financial statements of G-III Apparel Group,
    Ltd. and subsidiaries appearing in G-III Apparel Group
    Ltd.&#146;s Annual Report
    <FONT style="white-space: nowrap">(Form&#160;10-K)</FONT>
    for the year ended January&#160;31, 2009 (including the schedule
    appearing therein), and the effectiveness of G-III Apparel Group
    Ltd.&#146;s internal control over financial reporting as of
    January&#160;31, 2009, have been audited by Ernst&#160;&#038;
    Young LLP, independent registered public accounting firm, as set
    forth in their reports thereon included therein, and
    incorporated herein by reference. Such financial statements are,
    and audited financial statements to be included in subsequently
    filed documents will be, incorporated herein in reliance upon
    the reports of Ernst&#160;&#038; Young LLP pertaining to such
    financial statements and the effectiveness of our internal
    control over financial reporting as of the respective dates (to
    the extent covered by consents filed with the Securities and
    Exchange Commission) given on the authority of such firm as
    experts in accounting and auditing.
</DIV>

<A name='115'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">LEGAL
    MATTERS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Certain legal matters, including the legality of the securities
    offered, will be passed upon for us by our counsel,
    Fulbright&#160;&#038; Jaworski L.L.P., New York, New York. If
    the securities are distributed in an underwritten offering,
    certain legal matters will be passed upon for the underwriters
    by counsel identified in the applicable prospectus supplement.
</DIV>
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    <BR>
    17
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='116'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">WHERE YOU
    CAN FIND MORE INFORMATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We file reports, proxy statements and other documents with the
    SEC. You may read and copy any document we file at the
    SEC&#146;s public reference room at 100&#160;F&#160;Street,
    N.E., Room&#160;1580, Washington, DC 20549. You should call
    <FONT style="white-space: nowrap">1-800-SEC-0330</FONT>
    for more information on the operation of the public reference
    room. Our SEC filings are also available to you on the
    SEC&#146;s Internet site at
    <FONT style="white-space: nowrap">http://www.sec.gov.</FONT>
    The SEC&#146;s Internet site contains reports, proxy and
    information statements, and other information regarding issuers
    that file electronically with the SEC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    This prospectus is part of a registration statement that we
    filed with the SEC. The registration statement contains more
    information than this prospectus regarding us, including certain
    exhibits and schedules. You can obtain a copy of the
    registration statement from the SEC at the address listed above
    or from the SEC&#146;s Internet site.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Our Internet address is
    <FONT style="white-space: nowrap">http://www.g-iii.com.</FONT>
    The information on our Internet website is not incorporated by
    reference in this prospectus.
</DIV>

<A name='117'>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">INCORPORATION
    OF CERTAIN DOCUMENTS BY REFERENCE</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    The SEC allows us to &#147;incorporate&#148; into this
    prospectus information that we file with the SEC in other
    documents. This means that we can disclose important information
    to you by referring to other documents that contain that
    information. Any information that we incorporate by reference is
    considered part of this prospectus. The documents and reports
    that we list below are incorporated by reference into this
    prospectus. In addition, all documents and reports which we file
    pursuant to Section&#160;13(a), 13(c), 14 or 15(d) of the
    Exchange Act after the date of this prospectus are incorporated
    by reference in this prospectus as of the respective filing
    dates of these documents and reports. Statements contained in
    documents that we file with the SEC and that are incorporated by
    reference in this prospectus will automatically update and
    supersede information contained in this prospectus, including
    information in previously filed documents or reports that have
    been incorporated by reference in this prospectus, to the extent
    the new information differs from or is inconsistent with the old
    information.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    We have filed the following documents with the SEC. These
    documents are incorporated herein by reference as of their
    respective dates of filing:
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    (1)&#160;our annual report on
    <FONT style="white-space: nowrap">Form&#160;10-K,</FONT>
    for the fiscal year ended January&#160;31, 2009, filed on
    April&#160;16, 2009;
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    (2)&#160;our quarterly report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarterly period ended April&#160;30, 2009, filed on
    June&#160;9, 2009;
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    (3)&#160;our quarterly report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarterly period ended July&#160;31, 2009, filed on
    September&#160;8, 2009;
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    (4)&#160;our current reports on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed on February&#160;3, 2009, April&#160;7, 2009,
    April&#160;21, 2009, July&#160;23, 2009 and September&#160;16,
    2009;&#160;and
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    (5)&#160;the description of our capital stock contained in our
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed on May&#160;1, 2006.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    All documents subsequently filed by us pursuant to
    Sections&#160;13(a), 13(c), 14 or 15(d) of the Securities
    Exchange Act of 1934, prior to the filing of a post-effective
    amendment that indicates that all securities offered have been
    sold or which deregisters all securities then remaining unsold,
    will be deemed to be incorporated by reference in this
    Registration Statement and to be part hereof from the date of
    filing of such documents. Any statement contained in any
    document incorporated or deemed to be incorporated by reference
    herein will be deemed to be modified or superseded for purposes
    of this Registration Statement to the extent that a statement
    contained herein, or in any other subsequently filed document
    which also is or is deemed to be incorporated by reference
    herein, modifies or supersedes such statement.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Any such statement so modified or superseded will not be deemed,
    except as modified or superseded, to constitute a part of this
    Registration Statement.
</DIV>
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    <BR>
    18
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    You may request a copy of these documents, which will be
    provided to you at no cost, by contacting:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

    <FONT style="font-family: 'Times New Roman', Times">G-III
    Apparel Group, Ltd.
    </FONT>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    512 Seventh Avenue
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    New York, New York 10018
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    Attention: Chief Financial Officer
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <FONT style="white-space: nowrap">(212)&#160;403-0500</FONT>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    You should rely only on the information contained in this
    prospectus, including information incorporated by reference as
    described above, or any prospectus supplement that we have
    specifically referred you to. We have not authorized anyone else
    to provide you with different information. You should not assume
    that the information in this prospectus or any prospectus
    supplement is accurate as of any date other than the date on the
    front of those documents or that any document incorporated by
    reference is accurate as of any date other than its filing date.
    You should not consider this prospectus to be an offer or
    solicitation relating to the securities in any jurisdiction in
    which such an offer or solicitation relating to the securities
    is not authorized. Furthermore, you should not consider this
    prospectus to be an offer or solicitation relating to the
    securities if the person making the offer or solicitation is not
    qualified to do so, or if it is unlawful for you to receive such
    an offer or solicitation.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <BR>
    19
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #3F6075"></CENTER><!-- callerid=999 iwidth=456 length=0 -->

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #3F6075"></CENTER><!-- callerid=999 iwidth=456 length=0 -->

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 20pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><FONT style="font-size: 14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Shares</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <IMG src="y02712b2y0271202.gif" alt="(G-II Apparel Group, Ltd.)"><B><FONT style="font-size: 14pt">
    </FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><FONT style="font-size: 14pt">Common Stock</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 31%; border-bottom: 1pt solid #3F6075"></CENTER><!-- callerid=999 iwidth=456 length=142 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">PROSPECTUS SUPPLEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 31%; border-bottom: 1pt solid #3F6075"></CENTER><!-- callerid=999 iwidth=456 length=142 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><I><FONT style="font-size: 8pt">Sole Book-Running
    Manager</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><FONT style="font-size: 18pt">Piper Jaffray</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #3F6075"></CENTER><!-- callerid=999 iwidth=456 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><I><FONT style="font-size: 8pt">Co-Lead Manager</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    <B><FONT style="font-size: 18pt">Lazard Capital
    Markets</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #3F6075; background: #FFFFFF">

<TR>
    <TD width="50%"></TD>
    <TD width="50%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">    <B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">Brean
    Murray, Carret &#038; Co.</FONT></B></TD>
    <TD nowrap align="right">    <B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">
    KeyBanc Capital Markets</FONT></B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #3F6075; background: #FFFFFF">
    December&#160;&#160;&#160;, 2009
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

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