Oxford Industries, Inc. Press Release

222 Piedmont Avenue, N.E. • Atlanta, Georgia 30308

CONTACT:
J. Reese Lanier, Jr.
Telephone: (404) 653-1446
Fax: (404) 653-1545
E-Mail: rlanier@oxfordinc.com

FOR IMMEDIATE RELEASE — May 22, 2002

OXFORD INDUSTRIES APPOINTS ERNST & YOUNG AS INDEPENDENT PUBLIC ACCOUNTANTS

ATLANTA, GA — Oxford Industries, Inc. (NYSE: OXM) announced today the appointment of Ernst & Young LLP as its independent public accountants for the fiscal year ending May 31, 2002. The decision to replace Arthur Andersen LLP as Oxford's independent public accountants was approved by Oxford's Board of Directors upon the recommendation of its Audit Committee.

Commenting on the appointment, J. Hicks Lanier, Chairman and President of Oxford, stated, "Our decision to discontinue our relationship with Arthur Andersen was driven by the overwhelming uncertainty surrounding Andersen's future viability. Andersen has provided us with exceptional services during our longstanding relationship and we regret the need to change. However, Ernst & Young’s domestic and international capabilities match up extremely well with our operations around the globe."

During Oxford's two most recent fiscal years and through today, there were no disagreements between Oxford and Andersen on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.

Oxford Industries, Inc. is a diversified international manufacturer and wholesale marketer of branded and private label apparel for men, women and children. With manufacturing and sourcing operations in over 40 countries around the globe, Oxford provides retailers and consumers with a wide variety of apparel products and services to suit their individual needs. Major licensed brands include Tommy Hilfiger®, Nautica®, Geoffrey Beene®, Slates®, Oscar de la Renta® and Izod Club®. Oxford's private label customers are found in every major channel of distribution, including national chains, specialty catalogs, mass merchandisers, department stores, specialty stores and Internet retailers. The company's stock has traded on the NYSE since 1964 under the symbol OXM. Please visit our Web site at www.oxfordinc.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
This document contains forward-looking statements of the Company's beliefs or expectations regarding anticipated future results of the Company. These statements are based on numerous assumptions and are subject to risks and uncertainties. Although the Company feels that the beliefs and expectations in the forward-looking statements are reasonable, it does not and cannot give any assurance that the beliefs and expectations will prove to be correct. Many factors could significantly affect the Company's operations and cause the Company's actual results to be substantially different from the Company's expectations. Those factors include, but are not limited to: (i) general economic and apparel business conditions; (ii) continued retailer and consumer acceptance of the Company's products; (iii) global manufacturing costs; (iv) the financial condition of customers or suppliers; (v) changes in capital market conditions; (vi) governmental and business conditions in countries where the Company's products are manufactured; (vii) changes in trade regulations; (viii) the impact of acquisition activity; (ix) changes in the Company's plans, strategies, objectives, expectations or intentions, which may happen at any time in the discretion of the Company; and (x) other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company does not have an obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.