SKFB ANNOUNCES KASEN RETIREMENT AND NAMES OLIVER AS PRESIDENT AND CEO

Richmond, VA, April 3, 2007—S&K Famous Brands, Inc. (Pink Sheets: SKFB:PK; www.skmenswear.com) today reported that Stewart M. Kasen, President, Chief Executive Officer and Director, has announced his retirement from the Company and Board effective with the Annual Meeting of Shareholders on May 31, 2007. Kasen has been President, Chief Executive Officer and Director since April 2002 following a long career in retailing.

The Company also announced that effective May 31, 2007, Joseph A. Oliver, III will be promoted to President and Chief Executive Officer and will become a member of the Board of Directors. Oliver has served as Executive Vice President—Stores during his tenure with S&K since February 2006. Prior to joining S&K, Oliver was Director—Mergers and Acquisitions Group of Davenport & Company, LLC. The management team will be lead by Oliver and Jarrod S. Nadel, Executive Vice President—Merchandising/Global Sourcing and Robert E. Knowles, Executive Vice President and Chief Financial Officer.

Stuart C. Siegel, Chairman of the Board, said, “We very much appreciate the value that Stewart Kasen has brought to the Company over the past five years as a skilled merchandise and operations executive. Joe Oliver has been instrumental over the last year in implementing operational standards which are solidifying our stores’ direction. We have confidence in his ability to lead our strong management team and deliver positive results to our shareholders for many years to come.” Referring to the rest of the senior management team, he added, “Jarrod Nadel’s merchandising talents will continue to improve the Company’s gross margin and influence our marketing direction. Bob Knowles has 25 years experience as our CFO which provides stability as well as a historical perspective.”

S&K Famous Brands, Inc. is a retailer of value-priced menswear operating 223 stores in 26 states reaching from the East Coast to Texas and from Maine to Florida. S&K offers a complete line of men's apparel generally priced 20-40% below department store and specialty store regular prices. For more information, go to our Web site at www.skmenswear.com.

Except for historical information contained herein, the statements in this release may be forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause future events to differ materially from those expressed in such forward-looking statements. Such risks and uncertainties include numerous operational factors and economic conditions, such as the level of demand for the Company's products and services, the competitive environment in the value-priced men’s apparel industry in general and in the Company’s specific market area, inflation, changes in costs of goods and services and economic conditions in general and in the Company’s specific market area. Risks and uncertainties relating to the Company's stock include the unpredictability of market conditions and whether any broker-dealers continue to act as market makers in the Company’s stock. Any forward-looking statements made in this release are made only as of the date of this release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

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