First Quarter 2009 Compared to First Quarter 2008:

    * Net sales declined 27% to $90.4 million from $123.2 million; at    comparable foreign currency exchange rates, net sales were down 21%    for the period;  * European-based operations achieved sales of $82.0 million, down 26%    from $110.6 million;  * Sales by U.S.-based operations declined 33% to $8.4 million from    $12.6 million;  * Gross margin was 59% compared to 60%;  * S, G & A expense as a percentage of sales was 48% compared to 45%;  * Operating margins were 11.4% of sales compared to 15.5%;  * Net income attributable to Inter Parfums, Inc. declined 35% to $7.3    million from $11.1 million; and,  * Diluted earnings per share attributable to Inter Parfums, Inc.    common shareholders were $0.18 compared to $0.28. 

Jean Madar, Chairman and CEO of Inter Parfums, noted, "As we previously reported, the global economic crisis and its impact on discretionary consumer spending were certainly factors in the comparable quarter decline in sales, but there were other reasons as well. The strength of the U.S. dollar relative to the euro had the net effect of depressing 2009 first quarter sales by about 6% as compared to last year. Also, significant growth in the first quarter of 2008 as compared to the first quarter of 2007 made for a difficult comparison. Burberry The Beat for women, our largest ever global fragrance launch, commenced in the first quarter of last year. In addition, sales by U.S.-based operations surged 31% from the first quarter of 2007 as we added a new international element to our domestic business."

Discussing factors impacting profitability, Russell Greenberg, Executive Vice President & CFO, pointed out, "Since European-based product sales to U.S. customers are denominated in dollars while costs are incurred in euro, we had expected an increase in the gross margin percentage in the first quarter of 2009. However, the gross margin benefits stemming from currency exchange rates were offset by sales mix issues within individual product lines, resulting in the decline in gross margin percentage. Another factor skewing our comparable quarter operating margins relates to advertising expenditures associated with Burberry The Beat for women. As previously disclosed, advertising expenditures associated with the launch were predominantly incurred in the second quarter of 2008, while most of the sales of Burberry The Beat for women were recognized in the first quarter of 2008. With lower sales expected in 2009 compared to 2008, our advertising and promotional spending budgets have been adjusted to align our spending with anticipated sales. We are again affirming our 2009 guidance, with net sales of $390 million, net income of approximately $21.0 million or $0.70 per diluted share, assuming the dollar remains at current levels."

Mr. Madar went on to say, "We are in the midst of our 2009 new product launch schedule for our European-based operations which began with the global rollout of the men's version of Burberry The Beat. This was followed by the Lanvin L'Homme Sport line. We also have a new Paul Smith fragrance for men, a Quiksilver signature fragrance for men, a limited edition, high-end Van Cleef & Arpels women's fragrance, aptly named Collection Extraordinaire, in the pipeline for this year. With regard to U.S.-based operations, last month Close, a new Gap fragrance, was launched at approximately 550 Gap stores and roughly 175 Gap Body stores nationwide with international distribution into 5,000 doors on schedule for the second half of 2009. In August 2009, we have new fragrances for men and women scheduled for launch at Banana Republic stores in North America with international distribution soon after. As we've reported, Black Fleece, the new Brooks Brothers New York collection for men and women, our signature bebe fragrance for women, and a new fragrance for New York & Company are all in our rollout schedule this year."

Cash Dividend

The Company's next regular quarterly cash dividend of $.033 per share will be payable on July 15, 2009 to shareholders of record on June 30, 2009.

Conference Call

The management of Inter Parfums will host a conference call at 11:00 am EDT on Tuesday, May 12, 2009, to discuss first quarter results and other recent developments.