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Cherokee Announces 10% Dividend Increase

Cherokee Inc., a leading licensor and global brand management company, announced today that its Board of Directors has approved a quarterly dividend to shareholders of $0.55 per share. The dividend will be payable around September 15, 2005 to shareholders of record on September 1, 2005. “Following our annual shareholders meeting today, we had our quarterly Board Meeting, at which time our Directors decided to increase the dividend to be paid in September to $0.55 per share,” said Russell J. Riopelle, CFO of Cherokee Inc. “We’re pleased to be able to continue to generate significant excess cash and return this cash to our shareholders.”

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