Penske Racing

IZOD to Sponsor Team Penske Beginning in 2011

December 6, 2010

NEW YORK, December 6, 2010 - Phillips-Van Heusen Corporation (NYSE: PVH) and Team Penske, the most successful team in IndyCar racing history, today announced that they had entered into a multi-year sponsorship agreement for PVH's IZOD brand, title sponsor of the IZOD IndyCar Series, to sponsor Team Penske and its drivers. The agreement begins with the 2011 season.

The IZOD brand will sponsor all three Team Penske Dallara/Honda entries - the No. 6 car driven by winning driver Ryan Briscoe, the No. 3 machine piloted by three-time Indy 500 champion Helio Castroneves and the No. 12 car driven by 2010 series runner-up Will Power. The IZOD brand will be the primary sponsor on Briscoe's No. 6 IZOD Team Penske Dallara/Honda at the 100th Anniversary Indianapolis 500, as well as other selected IZOD IndyCar Series Championship races, including the yet-to-be-announced season finale event. IZOD, the sport-inspired lifestyle apparel brand, will serve as an associate sponsor on all three Team Penske cars for the full season.

"The IZOD brand's Team Penske sponsorship is a strategic decision to continue to build brand equity in the IZOD IndyCar Series and we are honored to join forces with such a storied operation," said Mike Kelly, Executive Vice President of Marketing for Phillips-Van Heusen. "We intend to leverage this partnership to expand the reach of our brand not only through the relationship with Team Penske but also through cross-promotional activities with Team Penske's other sponsors."

"Part of the IZOD brand's stated strategic approach to motorsports marketing is to partner with leading sponsors in the Series to further elevate the reach and awareness of the IndyCar sport and its brand," said Starke Taylor, Vice President Sponsorship and Activation for Phillips-Van Heusen. In 2010, the IZOD brand successfully partnered with IZOD IndyCar Series sponsors, including Honda, as part of the successful multi-media campaign around the "Fastest Seat in Sports," the program in which a custom-built, two-seat Honda led the field to the green flag at start of each of the races, starting with the Indianapolis 500.

As IZOD Indy Car Series title sponsor, the IZOD brand hosted a number of high-profile events, including a series of exhibits titled "In Pursuit of FAST: 100 Years of Indy Racing, Fashion and Design" held at Macy's throughout the country and parties integrating celebrities such as Jack Nicholson, Mark Wahlberg, Diddy, Adrian Grenier, Jeremy Renner, Kim Kardashian, Greg Kinnear, and Mario Lopez, and music, including Dave Navarro and his band Camp Freddy, to drive visibility of the Series within pop culture and mainstream audiences. Events were hosted in New York, Los Angeles, Boston, Toronto and Indianapolis during the 2010 season and served to expand the sport to new fans and revive interest in fans from the past. The IZOD brand and the IZOD Indy Car Series were also featured in the "Race to the Party" advertising campaign.

"Team Penske is excited to build this new relationship with Phillips-Van Heusen," said Roger Penske. "As we saw in 2010, they have put the full strength of their IZOD brand behind growing the sport of IndyCar racing and we believe they will be a terrific partner with our team and our drivers for years to come."

Team Penske is the winningest team in the history of North American open-wheel racing. The team has produced 153 race wins, 196 pole positions, 12 national championships and 15 Indianapolis 500 victories in IndyCar competition.

"I am really looking forward to driving under the IZOD brand, beginning next season," said Briscoe, who has earned six wins and 10 poles over the last three seasons competing for Team Penske. "The team behind the IZOD brand clearly has a passion for IndyCar racing and Team Penske will be working hard to bring them a victory in the Indianapolis 500 and, hopefully, a series championship in 2011."

The IZOD brand's first involvement with the sport came in July 2008, when it became the official apparel sponsor of the IndyCar Series, the Indianapolis Motor Speedway and Firestone Indy Lights. In November 2009, the brand announced its title sponsorship of the newly re-named IZOD IndyCar Series.

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About IZOD and Phillips-Van Heusen Corporation:
IZOD, one of the United States' best-known and best-selling apparel brands, is known for its sport-inspired, clean designs and colorful product lines. With a history in the United States dating back to the 1930s, the IZOD brand is licensed to 21 companies in the U.S. and 17 other countries. IZOD brand products include apparel and accessories for men, women, and children, soft home goods and men's fragrance. The IZOD brand offerings include products sold under the IZOD PerformX (technical and performance fabricated sportswear), IZOD Jeans, and IZOD LX (a luxury sportswear collection sold exclusively at Macy's) sub brands, which are sold in over 6,000 retail venues worldwide, including department, specialty and company-operated stores. Visit www.izod.com.
Phillips-Van Heusen Corporation, one of the world's largest apparel companies, owns and markets the iconic Calvin Klein and Tommy Hilfiger brands worldwide. It is the world's largest shirt and neckwear company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, Tommy Hilfiger, IZOD, ARROW, Bass and G.H. Bass & Co., and its licensed brands, including Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Trump, JOE Joseph Abboud, DKNY and Timberland. Visit www.pvh.com.

About Penske Racing:
Penske Racing is one of the most successful teams in the history of professional sports. Competing in a variety of disciplines, cars owned and prepared by Penske Racing have produced 332 major race wins, 396 pole positions and 23 National Championships. The team has also earned 15 Indianapolis 500 victories. For more information about Penske Racing, please visit www.penskeracing.com.

About the IZOD IndyCar Series:
The IZOD IndyCar Series is the premier open-wheel series in the United States, competing on a challenging combination of superspeedways, short ovals, scenic road courses and temporary street circuits. In 2011, the IZOD IndyCar Series will conduct 13 races in the United States and one each in Canada, Japan and Brazil, all available worldwide through comprehensive, long-term agreements with ABC and VERSUS in high-definition. The IZOD IndyCar Series continues to the be the fastest and most competitive racing series, attracting a diverse lineup of drivers including Marco Andretti, Ryan Briscoe, Helio Castroneves, Scott Dixon, Dario Franchitti, Ryan Hunter-Reay, Danica Patrick and Will Power. A leader in motorsports technology, the IZOD IndyCar Series is the first racing series to power its Honda engines on 100 percent fuel-grade ethanol, a renewable and environmentally friendly fuel. For more information on the IZOD IndyCar Series, visit www.indycar.com.

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