Steven Madden completes evaluation of strategic alternatives

19 Feb '08

3 min read

A modified "Dutch Auction" will allow stockholders to indicate how many shares and at what price within the Company's specified range they wish to tender. Based on the number of shares tendered and the prices specified by the tendering stockholders, the Company will determine the lowest price per share within the range that will enable it to purchase up to 2,600,000 shares of its common stock, or such lesser number of shares as are properly tendered.

The Company will not purchase shares below a price stipulated by a stockholder, and in some cases, may actually purchase shares at prices above a stockholder's indication under the terms of the modified "Dutch Auction." Specific instructions and a complete explanation of the terms and conditions of the tender offer are contained in the Offer to Purchase and related materials that will be mailed to stockholders of record beginning on February 20, 2008.

The Company's directors and officers have advised the Company that they do not intend to tender their shares in the tender offer. D.F. King & Co., Inc. will serve as the information agent and American Stock Transfer & Trust Company will serve as the depositary.

Steven Madden Ltd

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