Jones Apparel and Maxwell Shoe Discussing a Merger Agreement On the Basis of a $23.25 Per Share Price

Jones Apparel and Maxwell Shoe Discussing a Merger Agreement On
the Basis of a $23.25 Per Share Price 


NEW YORK, June 16  /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc.
("Jones") (NYSE:JNY) today announced that it is in negotiations with Maxwell
Shoe Company Inc. ("Maxwell") (NASDAQ:MAXS) regarding a definitive agreement
for Jones' acquisition of Maxwell on the basis of a price of $23.25 per share
in cash.  The transaction remains subject to the successful negotiation of a
definitive merger agreement and the approval of the Maxwell board of directors.

There can be no assurance that further discussions or negotiations will lead to
an acceptable merger agreement between Jones and Maxwell or that the proposed
transaction will be consummated.   In the event that a definitive merger
agreement is not entered into, Jones' offer will be terminated unless Jones has
received sufficient consents from Maxwell's stockholders to replace the Maxwell
board of directors on or before this Friday, June 18, 2004, which is the last
business day prior to the termination of Jones' consent solicitation.

Jones Apparel Group, Inc. (http://www.jny.com/), a Fortune 500 Company, is a
leading designer and marketer of branded apparel, footwear and accessories. The
Company's nationally recognized brands include Jones New York, Polo Jeans
Company licensed from Polo Ralph Lauren Corporation, Evan-Picone, Norton
McNaughton, Gloria Vanderbilt, Erika, l.e.i., Energie, Nine West, Easy Spirit,
Enzo Angiolini, Bandolino, Napier, Judith Jack, Kasper, Anne Klein, Albert
Nipon and LeSuit.  The Company also markets costume jewelry under the Tommy
Hilfiger brand licensed from Tommy Hilfiger Corporation and the Givenchy brand
licensed from Givenchy Corporation, and footwear and accessories under the
ESPRIT brand licensed from Esprit Europe, B.V.  With over 30 years of service,
the Company has built a reputation for excellence in product quality and value,
and in operational execution.

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                          IMPORTANT INFORMATION



Investors and security holders are urged to read the disclosure documents filed
with the Securities and Exchange Commission (the "SEC") from time to time,
including the tender offer statement filed on March 23, 2004 and the first
supplement to the tender offer statement filed on May 26, 2004, regarding the
tender offer by MSC Acquisition Corp. ("MSC") for all the outstanding shares of
Class A Common Stock, together with the associated preferred stock purchase
rights, of Maxwell.  Investors and security holders may obtain a free copy of
the disclosure documents (when they are available) and other documents filed by
Jones or MSC with the SEC at the SEC's website at http://www.sec.gov/.  In
addition, documents filed with the SEC by Jones or MSC may be obtained free of
charge from Jones by directing a request to Jones Apparel Group, Inc., 250
Rittenhouse Circle, Keystone Park, Bristol, Pennsylvania 19007, Attention:
Chief Operating and Financial Officer.

Jones filed a definitive consent solicitation statement on April 21, 2004 with
the SEC.  Investors and security holders may obtain a free copy of the
definitive consent solicitation statement and other documents filed by Jones or
MSC with the SEC at the SEC's website at http://www.sec.gov/.  In addition,
documents filed with the SEC by Jones or MSC may be obtained free of charge
from Jones by directing a request to Jones Apparel Group, Inc., 250 Rittenhouse
Circle, Keystone Park, Bristol, Pennsylvania 19007, Attention: Chief Operating
and Financial Officer.

CERTAIN INFORMATION CONCERNING PARTICIPANTS

Jones, MSC and, in each case, certain of its officers, directors and nominees
for the directorships of Maxwell, among others, may be deemed to be
participants in the solicitation of Maxwell's stockholders.  The security
holders of Maxwell may obtain information regarding the names, affiliations and
interests of individuals who may be participants in the solicitation of
Maxwell's stockholders in the definitive consent solicitation statement filed
by Jones with the SEC on Schedule 14A on April 21, 2004. 

DATASOURCE: Jones Apparel Group, Inc.



CONTACT:  Wesley R. Card, Chief Operating and Financial Officer, or Anita

Britt, Executive Vice President Finance, of Jones Apparel Group,

[phone]



Web site:  http://www.jny.com/

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