Reported Earnings of $0.33 Per Share

               Provided Financial Performance Update for 2008

 Projected New Donna Karan and DKNY Women's Intimate Apparel License to Add

                Approximately 5% to Net Sales Growth in 2009



    ISELIN, N.J., Aug. 6 /EMWNews/ -- Maidenform Brands, Inc.

(NYSE: MFB), a global branded marketer of intimate apparel, today reported

earnings of $0.33 per diluted share (EPS) for the second quarter of 2008

which included $0.01 per share associated with start-up costs related to

the new women's intimate apparel license with Donna Karan International.

EPS for the second quarter of 2007 was $0.39, including $0.06 cents per

share of deferred financing costs related to the refinancing of the

Company's credit facility in June 2007.






    Second quarter 2008 results versus second quarter 2007:

    -- Net sales decreased 9.2% to $108.1 million with the majority of the

       decrease related to the previously announced net sales shift of

       approximately $6.0 million from the second quarter to early in the

       third quarter of 2008 predominantly in the department stores and

       national chain stores channel, with the balance of the decrease

       attributed to a more challenging overall retail environment.

       -- Department stores and national chain stores channel net sales

          decreased 15.8% to $57.4 million.

       -- Mass merchant channel net sales increased 11.8% to $28.5 million.

       -- Retail segment net sales increased 5.1% to $14.5 million, with same

          store sales up 1.9%.

       -- International net sales increased 2.9% to $10.6 million.

    -- Consolidated gross margins decreased 120 basis points to 38.7% due to

       higher wholesale net sales in the mass merchant channel versus the

       second quarter of 2007.

    -- Total cash and cash equivalents was $15.3 million at the end of the

       second quarter of 2008 and in line with the year ago period.



    Maurice S. Reznik, Chief Executive Officer, stated, "While net sales in

the department stores and national chain stores channel as well as the

other wholesale channel were disappointing in the second quarter, we posted

gains elsewhere across our portfolio, tightly controlled our costs and

solidified new sources of revenue that will contribute to our projected top

line growth of 8% to 12% for the second half of 2008. These initiatives

include expanding our assortment with existing customers, benefiting from

the launch of new brands, and introducing new products and programs with

customers that strategically complement our current offerings. We believe

that these actions, coupled with building the new Donna Karan and DKNY

women's intimate apparel licensed business that will commence in the

beginning of 2009, will greatly contribute to the Company's long-term

success."



    Financial Results for Second Quarter 2008 versus Second Quarter 2007



    Net sales for the second quarter of 2008 decreased $10.9 million, or

9.2%, to $108.1 million driven largely by lower net sales in the department

stores and national chain stores channel. Wholesale segment net sales in

the second quarter of 2008 decreased $11.6 million, or 11.0%, to $93.6

million. Total international net sales, which are included in the wholesale

segment, increased $0.3 million, or 2.9%, to $10.6 million. Retail segment

net sales increased $0.7 million, or 5.1%, to $14.5 million in the second

quarter of 2008. Maidenform's net sales performance by channel of

distribution and product mix is highlighted in Exhibit 1 to this press

release.



    Wholesale Segment



    Department Stores and National Chain Stores



    Net sales for the department stores and national chain stores channel

decreased $10.8 million, or 15.8%, to $57.4 million in the second quarter

of 2008. The Company had previously projected lower net sales in this

channel reflecting the timing of certain shipments which were shipped early

in the third quarter of 2008, as well as a more challenging retail

environment. Despite a decrease in this channel overall, Maidenform

experienced solid performance from the expanded distribution of the

Company's shapewear brand Control It(TM) and strength in Flexees(R)

Shapewear Chic(TM) collections.



    Additionally, at the end of the second quarter, the Company implemented

key brand and product sales building initiatives in the department stores

and national chain stores channel, including the launch of the Luleh(TM)

brand, further expansion of Flexees(R) Weightless Power(TM) collection and

Lilyette(R) Every Bit Invisible(TM) full-figure bras.



    Mass Merchants



    The mass merchant channel net sales increased $3.0 million, or 11.8%,

to $28.5 million in the second quarter of 2008. Primary factors for this

increase were the launch of the Company's Inspirations(TM) brand, continued

penetration of Maidenform's Sweet Nothings(R) brand in the shapewear

category, and the addition of a new program with a warehouse customer.



    Other



    Net sales in the other channel were down $3.8 million, or 33.0%, to

$7.7 million in the second quarter of 2008, largely due to sales to an

off-price retailer in 2007 that did not repeat in 2008 and lower

liquidation sales.



    Retail Segment



    As noted above, total retail segment net sales increased $0.7 million,

or 5.1%, to $14.5 million in the second quarter of 2008 with same store

sales up 1.9% at Maidenform's retail outlet stores and internet sales up

20.0% to $1.2 million. Strong product performers in the retail segment

included Maidenform(R) and Lilyette(R) bras and Flexees(R) and Control

It(TM) shapewear. The Company had 77 retail outlet stores as of the end of

the second quarter of 2008, the same as of the end of the second quarter of

2007.



    As a percentage of net sales, consolidated gross margins decreased 120

basis points to 38.7%, primarily driven by both customer and product mix,

which included fewer sales in the department stores and national chain

stores channel combined with higher sales in the mass merchant channel.

Partially offsetting this change in channel mix was higher retail segment

sales and cost improvements from the Company's sourcing initiatives.



    Consolidated selling, general and administrative expenses (SG&A)

increased slightly by $0.3 million, or 1.1%, to $27.3 million in the second

quarter of 2008. As a percentage of net sales, SG&A was 25.3% in the second

quarter of 2008 compared to 22.7% in the second quarter of 2007. The

increase of $0.3 million was a result of start-up costs associated with

developing and implementing the new women's intimate apparel licensing

agreement with Donna Karan International. In addition, Maidenform funded

increases in advertising expenses to support new product launches and

branding, as well as occupancy related expenses for an added distribution

center, with managed cost reductions in compensation and other expenses

across most operating departments.



    Due to all the factors described above, operating income in the second

quarter of 2008 was $14.5 million and 13.4% of net sales, compared to $20.5

million and 17.2% of net sales in the year ago period.



    Net interest expense in the second quarter of 2008 was $1.1 million

compared to $4.3 million in the second quarter of 2007. In June 2007,

Maidenform refinanced its credit facility with a new $150.0 million credit

facility, resulting in the expensing of $2.4 million of deferred financing

costs. Excluding this item, net interest expense was $1.9 million for the

second quarter of 2007. The Company's decrease in net interest expense for

the second quarter of 2008 was primarily due to the action taken by the

Company to refinance its credit facility, as well as overall lower average

debt outstanding in the second quarter of 2008 compared to the year ago

period.



    Maidenform's effective income tax rate for the second quarter of 2008

remained unchanged at 41.7% when compared to the second quarter of 2007.



    Net income for the second quarter of 2008 was $7.8 million and EPS was

$0.33, including approximately $0.01 per share associated with start-up

costs related to developing and implementing the new women's intimate

apparel licensing agreement with Donna Karan International. Net income for

the second quarter of 2007 was $9.5 million and EPS was $0.39, including

approximately $0.06 per share associated with refinancing costs for the

Company's credit facility in June 2007.



    Total cash and cash equivalents at the end of the second quarter of

2008 was $15.3 million which represented the same cash position as at the

end of the second quarter of 2007. The Company's total debt outstanding was

$89.2 million as of June 28, 2008, representing a decrease of $10.8 million

from the end of the second quarter of 2007. Maidenform had a debt to EBITDA

ratio of 1.5 to 1 at the end of the second quarter of 2008.



    Financial Results for Year-To-Date 2008 versus Year-To-Date 2007



    Net sales for the first six months of 2008 decreased $20.0 million, or

8.8%, to $206.2 million driven by lower sales in the department stores and

national chain stores channel. Wholesale segment net sales, on a

year-to-date basis, decreased $22.0 million, or 10.9%, to $180.2 million.

Total international net sales, which are included in the wholesale segment,

increased $1.1 million, or 6.3%, to $18.6 million. Retail segment net sales

for the first six months of 2008 increased $2.0 million, or 8.3%, to $26.0

million. Same store sales for Maidenform's retail outlet stores increased

5.1%. Internet sales increased 26.3% to $2.4 million on a year-to-date

basis. The Company's net sales performance by channel of distribution is

highlighted in Exhibit 1 of this press release.



    Consolidated gross margins, on a year-to-date basis, increased 50 basis

points to 38.7%, reflecting a favorable mix of products, higher retail

segment sales and cost improvements from the Company's sourcing initiatives

such as product cost re-engineering actions and inbound freight

initiatives.



    Year-to-date operating income was $26.1 million and 12.7% of net sales

versus $40.7 million and 18.0% of net sales for the first six months of

2007 (15.3% excluding a pension curtailment gain of $6.1 million in the

first quarter of 2007).



    Net income for the first six months of 2008 was $13.8 million, or $0.59

per diluted share, including $0.01 per share associated with start-up costs

related to the new women's intimate apparel license with Donna Karan

International. Net income for the first six months of 2007 was $20.1

million, or $0.83 per diluted share, for the first six months of 2007.

Excluding the pension curtailment gain and deferred financing costs

associated with the refinancing of the Company's credit facility (a

combined $2.2 million after tax), net income was $17.9 million, or $0.74

earnings per diluted share, for the first six months of 2007.



    Business Update on New Donna Karan and DKNY Women's Intimate Apparel

License



    Maidenform announced on May 6, 2008 that it has entered into the

exclusive global women's intimate apparel license for Donna Karan and DKNY

commencing on January 1, 2009. Product will begin shipping to retail

customers in early January 2009. Maidenform projects that this business

will add approximately 5% to the Company's net sales growth in 2009 and

will provide a new channel of distribution to high-end department and

specialty stores. Gross margins are expected to be initially generally in

line with Maidenform's department store business. The Company believes this

license relationship will have strong long-term sales growth and gross

margin expansion opportunities, particularly internationally.



    Financial Performance Update for 2008



    Maidenform continues to be confident about its company specific

initiatives that it believes will drive sales growth in the second half of

2008. However, the Company is also taking a cautious approach given the

challenging economic environment for many of Maidenform's customers. With

that, Maidenform has updated its guidance for 2008 to the following:






    -- Net sales growth of 8% to 12% for the third and fourth quarters of 2008

       over the same comparable periods in 2007, resulting in full year 2008

       net sales growth of between down 1% and up 1% as compared to prior

       guidance of up approximately 4%.  Sales growth initiatives contributing

       to the Company's financial performance in the second half of 2008

       include:

       -- Sizeable assortment expansion in the bra and shapewear categories

          within the mass merchant channel, in addition to a new shapewear

          program

       -- Ongoing replenishment and expanded assortments with the Company's

          Luleh(TM) and Inspirations(TM) brands

       -- Additional product introductions in the department stores and

          national chain stores channel

       -- Launching new programs with two specialty retailers

    -- Full year consolidated gross margins of 38.5% to 39.0% as compared to

       prior guidance of approximately 39%, including particularly strong

       anticipated growth in the mass merchant channel.

    -- Full year EPS of $1.28 to $1.36, excluding start-up costs of

       approximately $2.5 million, or $0.06 per diluted share, associated with

       developing and implementing the global women's intimate apparel license

       under the Donna Karan and DKNY brands.  The low end of the range for

       EPS considers the implication of potential cancellations from certain

       high credit risk accounts.  This compares to a prior EPS projection of

       approximately $1.46, excluding $0.06 per share of Donna Karan and DKNY

       start-up costs in 2008.  Exhibit 2 of this press release provides a

       reconciliation of non-GAAP financial EPS, as defined under SEC rules,

       to the most directly comparable GAAP EPS.



    Conference Call Information



    Maidenform will host a conference call and webcast this morning,

Wednesday, August 6, 2008 at 8:30 am ET to discuss its second quarter 2008

results, in addition to providing an update on its business. The conference

call telephone number is (866) 578-5784 and the passcode is "Maidenform."

The conference call will be simultaneously webcasted and can be accessed

via the investor relations page of Maidenform's website at

http://www.maidenformbrands.com. A dial-in replay of this event will be available

through August 20, 2008 and will be hosted on the Company's website for a

limited time. The replay telephone numbers are (888) 286-8010 or (617)

801-6888. The replay passcode is 17410476.

    About Maidenform Brands, Inc.



    Maidenform Brands, Inc. is a global intimate apparel company with a

portfolio of established and well-known brands, top-selling products and an

iconic heritage. Maidenform designs, sources and markets an extensive range

of intimate apparel products, including bras, panties and shapewear. During

its 85-year history, Maidenform has built strong equity for its brands and

established a solid growth platform through a combination of innovative,

first-to-market designs and creative advertising campaigns focused on

increasing brand awareness with generations of women. Maidenform sells its

products under some of the most recognized brands in the intimate apparel

industry, including Maidenform(R), Flexees(R), Lilyette(R), Control It(TM),

Luleh(TM), Sweet Nothings(R), Rendezvous(R), Subtract(R), Bodymates(R),

Self Expressions(R) and Inspirations(TM). Maidenform products are currently

distributed in approximately 60 countries and territories outside the

United States.



    Forward Looking Statement: This press release contains forward-looking

statements relating to future events and the Company's future performance

within the meaning of Section 27A of the Securities Act of 1933, as

amended, and Section 21E of the Securities Exchange Act of 1934, as

amended, including, without limitation, statements regarding our

expectations, beliefs, intentions or future strategies that are signified

by the words "anticipates," "believes," "estimates," "expects," "intends,"

"plans," "potential," "predicts," "projects" or similar words or phrases,

although not all forward-looking statements contain such identifying words.

All forward-looking statements included in this press release are based on

information available to the Company on the date hereof. It is routine for

the Company's internal projections and expectations to change as the year

or each quarter in the year progress, and therefore it should be clearly

understood that the internal projections and beliefs upon which the Company

bases its expectations may change prior to the end of each quarter or the

year. Although these expectations may change, the Company is under no

obligation to inform you if they do. Actual events or results may differ

materially from those contained in the projections or forward-looking

statements.



    The following factors, among others, could cause the Company's actual

results to differ materially from those expressed in any forward-looking

statements: the Company's growth cannot be assured and any growth may be

unprofitable; potential fluctuations in our results of operations or rate

of growth; our dependence on a limited number of customers; the Company has

larger competitors with greater resources; retail trends in the intimate

apparel industry, including consolidation and continued growth in the

development of private brands, resulting in downward pressure on prices,

reduced floor space and other harmful changes; failure to anticipate,

identify or promptly react to changing trends, styles, or consumer

preferences; the Company's leverage could adversely affect its financial

condition; external events that disrupt the Company's supply chain, result

in increased cost of goods or an inability to deliver its products; events

which result in difficulty in procuring or producing products on a

cost-effective basis; increases in the prices of raw materials; changing

international trade regulation, including as it relates to the imposition

or elimination of quotas on imports of textiles and apparel; foreign

currency exposure; the sufficiency of cash to fund operations and capital

expenditures; and the influence of adverse changes in general economic

conditions.



    This list is intended to identify only certain of the principal factors

that could cause actual results to differ from those discussed in the

forward-looking statements. Readers are referred to the reports and

documents filed from time to time by the Company with the Securities and

Exchange Commission for a discussion of these and other important risk

factors that could cause actual results to differ from those discussed in

forward-looking statements.










    MAIDENFORM BRANDS, INC. AND SUBSIDIARIES

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (in thousands, except share and per share amounts)

    (unaudited)

                                              June 28, 2008 December 29, 2007

    Assets

    Current assets

      Cash and cash equivalents                     $15,282           $16,602

      Accounts receivable, net                       58,441            45,775

      Inventories                                    65,859            69,041

      Deferred income taxes                          11,016            11,015

      Prepaid expenses and other current assets      10,632             7,497

        Total current assets                        161,230           149,930

    Property, plant and equipment, net               19,000            19,992

    Goodwill                                          7,884             7,884

    Intangible assets, net                           97,937            98,518

    Other non-current assets                          3,497             3,327

        Total assets                               $289,548          $279,651



    Liabilities and stockholders' equity

    Current liabilities

      Current portion of long-term debt              $1,100            $1,100

      Accounts payable                               32,128            36,022

      Accrued expenses and other current

       liabilities                                   19,810            21,620

        Total current liabilities                    53,038            58,742

    Long-term debt                                   88,075            88,625

    Deferred income taxes                            23,097            21,718

    Other non-current liabilities                    11,355            10,949

        Total liabilities                           175,565           180,034







    Stockholders' equity

      Preferred stock - $0.01 par value;

       10,000,000 shares authorized

       and none issued and outstanding                    -                 -

      Common stock - $0.01 par value;

       100,000,000 shares authorized;

       23,488,357 shares issued and

       22,386,527 outstanding at

       June 28, 2008 and 23,488,357

       shares issued and 22,357,292

       outstanding at December 29, 2007                 235               235

      Additional paid-in capital                     61,162            60,919

      Retained earnings                              67,372            53,526

      Accumulated other comprehensive income            739               872

      Treasury stock, at cost (1,101,830

       shares at June 28, 2008 and

       1,131,065 shares at December 29, 2007)       (15,525)          (15,935)

        Total stockholders' equity                  113,983            99,617

        Total liabilities and stockholders'

         equity                                    $289,548          $279,651







    MAIDENFORM BRANDS, INC. AND SUBSIDIARIES

    CONDENSED CONSOLIDATED STATEMENTS OF INCOME

    (in thousands, except share and per share amounts)

    (unaudited)



                                   Three months ended       Six months ended

                                  June 28,    June 30,    June 28,    June 30,

                                    2008        2007        2008        2007



    Net sales                    $108,063    $118,960    $206,169    $226,193

    Cost of sales                  66,253      71,394     126,393     139,755

        Gross profit               41,810      47,566      79,776      86,438

    Selling, general and

     administrative expenses       27,292      27,063      53,695      45,739

        Operating income           14,518      20,503      26,081      40,699



    Interest expense, net           1,131       4,246       2,312       6,267

        Income before provision

         for income taxes          13,387      16,257      23,769      34,432

    Income tax expense              5,580       6,775       9,923      14,358

        Net income                 $7,807      $9,482     $13,846     $20,074

    Basic earnings per common

     share                          $0.35       $0.41       $0.62       $0.87

    Diluted earnings per

     common share                   $0.33       $0.39       $0.59       $0.83

    Basic weighted average

     number of shares

     outstanding               22,372,764  23,014,893  22,365,492  22,996,174

    Diluted weighted average

     number of shares

     outstanding               23,446,634  24,196,358  23,434,416  24,170,707







    MAIDENFORM BRANDS, INC. AND SUBSIDIARIES

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (in thousands)

    (unaudited)

                                                       Six months ended

                                               June 28, 2008     June 30, 2007

    Cash flows from operating activities

    Net income                                      $13,846           $20,074

    Adjustments to reconcile net income to

     net cash from operating activities

        Depreciation and amortization                 1,800             1,453

        Amortization of intangible assets               581               581

        Amortization of deferred financing costs         93             2,787

        Stock-based compensation                        682             1,048

        Deferred income taxes                         1,378             3,764

        Excess tax benefits related to

         stock-based compensation                       (13)             (514)

        Pension plan curtailment gain                     -            (6,099)

        Net changes in operating assets and

         liabilities

          Accounts receivable                       (12,666)          (18,126)

          Inventories                                 3,182            (8,379)

          Prepaid expenses and other

           current and non-current assets               112              (463)

          Accounts payable                           (3,894)           12,774

          Accrued expenses and other

           current and non-current liabilities       (2,159)            3,722

          Income taxes payable                       (2,688)              408

              Net cash from operating activities        254            13,030

    Cash flows from investing activities

    Capital expenditures                               (808)           (2,313)

              Net cash from investing activities       (808)           (2,313)

    Cash flows from financing activities

    Term loan borrowings                                  -           100,000

    Term loan repayments                               (550)         (110,000)

    Borrowings under revolving loan                       -             5,000

    Repayments under revolving loan                       -            (5,000)

    Proceeds from stock options exercised                31               338

    Excess tax benefits related to

     stock-based compensation                            13               514

    Payments of employee withholding taxes

     related to equity awards                           (73)                -

    Payments of capital lease obligations               (54)              (50)

    Deferred financing costs                              -            (1,068)

              Net cash from financing activities       (633)          (10,266)

    Effects of exchange rate changes on cash           (133)              185

              Net (decrease) increase in cash        (1,320)              636

    Cash and cash equivalents

    Beginning of period                              16,602            14,617

    End of period                                   $15,282           $15,253



    Supplementary disclosure of cash flow

     information

    Cash paid during the period

    Interest                                         $2,471            $4,179

    Income taxes                                    $10,946            $9,139



    Supplemental schedule of non-cash

     investing and financing activities

    Equipment acquired with capital lease

     obligations                                         $-              $470







                                                                     Exhibit 1

    MAIDENFORM BRANDS, INC. AND SUBSIDIARIES

    SALES BY CHANNEL OF DISTRIBUTION AND PRODUCT MIX

    (in millions)

    (unaudited)



                        Three months ended            Six months ended

                June 28, June 30,  $      %    June 28, June 30,  $      %

                  2008     2007  change change   2008     2007  change change

                          (in millions)                  (in millions)

    Department

     stores and

     national

     chain

     stores        $57.4  $68.2  $(10.8) (15.8%) $105.8 $121.7 $(15.9) (13.1%)

    Mass

     merchants      28.5   25.5     3.0   11.8     58.8   54.1    4.7    8.7

    Other            7.7   11.5    (3.8) (33.0)    15.6   26.4  (10.8) (40.9)

    Total

     wholesale      93.6  105.2   (11.6) (11.0)   180.2  202.2  (22.0) (10.9)



    Retail          14.5   13.8     0.7    5.1     26.0   24.0    2.0    8.3



    Total

     consolidated

     net sales    $108.1 $119.0  $(10.9)  (9.2%) $206.2 $226.2 $(20.0)  (8.8%)





                  Three months ended  Six months ended

                   June 28, June 30,  June 28, June 30,

                     2008     2007      2008     2007

    Bras              67%      69%       66%      72%

    Shapewear         23       22        23       19

    Panties           10        9        11        9

                     100%     100%      100%     100%







                                                                     Exhibit 2

    DILUTED EARNINGS PER SHARE GAAP TO NON-GAAP PRO-FORMA RECONCILIATION

    SCHEDULE

    (unaudited)



                              Three months  Six months   2008 guidance  Year

                                 ended        ended          range      ended

                              June   June   June   June               December

                               28,    30,    28,    30,                  29,

                              2008   2007   2008   2007   From    To    2007



    Reported diluted earnings

     per share                $0.33  $0.39  $0.59  $0.83  $1.22  $1.30  $1.43

    Adjustments:

      Deferred financing

       costs (i)                -     0.06    -     0.06    -      -     0.06

      Pension curtailment

       gain (ii)                -      -      -    (0.15)   -      -    (0.16)

      Start-up costs (iii)     0.01    -     0.01    -     0.06   0.06    -

    Non-gaap pro-forma

     diluted earnings per

     share                    $0.34  $0.45  $0.60  $0.74  $1.28  $1.36  $1.33





      (i)   Expensing deferred financing costs as a result of refinancing the

            Company's credit facility.

      (ii)  Maidenform's pension plan was frozen effective January 1, 2007 for

            current employee participants and closed to new entrants. In

            connection with this freeze, the Company recognized a non-cash

            curtailment gain.

      (iii) Start-up costs associated with developing and implementing the

            global women's intimate apparel license under the Donna Karan and

            DKNY brands.