Steve Madden (Nasdaq: SHOO), a leading designer and marketer of fashion footwear and accessories for women, men and children, today announced that it has signed an exclusive licensing agreement with Dualstar Entertainment Group to design, manufacture, and distribute a collection of footwear and accessories for the Olsenboye brand. Olsenboye is a new brand created by Mary-Kate Olsen and Ashley Olsen that will be distributed exclusively to JCPenney. Merchandise will be available in select JCPenney stores and on jcp.com starting in Holiday 2009, with a full launch set for Spring 2010.

"We believe that Olsenboye will be an excellent addition to our growing portfolio of footwear and accessories brands,” said Edward Rosenfeld, Chairman and Chief Executive Officer. “Steve and his team are very excited about the opportunity to join forces with Ashley and Mary-Kate to create aspirational, trend-right fashions at affordable prices for the JCPenney customer.”

About Steve Madden

Steve Madden designs and markets fashion-forward footwear and accessories for women, men and children. The shoes and accessories are sold through 88 company-owned (including the Company’s online store), department stores, and apparel, footwear, and accessories specialty stores. The Company has several licensees for its brands, including for outerwear, cold weather accessories, eyewear, hosiery, and bedding and bath products. The Company is the licensee for footwear, handbags and belts for Fabulosity, for footwear for Elizabeth and James and l.e.i. and for handbags and belts for Betsey Johnson and Daisy Fuentes.

About Dualstar Entertainment Group

Dualstar Entertainment Group, founded in 1993 by Mary-Kate Olsen and Ashley Olsen, is a distinctive boutique global brand management company with offices in Culver City and New York.