SYMS CORP. ANNOUNCES FINAL RESULTS OF ITS DUTCH AUCTION SELF-TENDER OFFER
           - 436,286 shares tendered and purchased at $18 per share -

Secaucus,  NJ, May 30, 2006 - Syms Corp.  (NYSE:  SYM) today announced the final
results of its "Dutch  Auction"  self-tender  offer to purchase up to  3,350,000
shares of its  outstanding  common stock at a price not less than $16.00 and not
greater than $18.00 per share, which expired on Friday, May 26, 2006.

Based on the final count by the American  Stock  Transfer & Trust  Company,  the
depositary for the tender offer,  436,286 shares were properly  tendered and not
withdrawn at or below a price of $18 per share,  which the company will purchase
at $18 per share for a total cost of $7,853,148.

Payment  for the shares  accepted  for  purchase  will be made  promptly  by the
depositary.  As a result of completing  the tender offer,  Syms Corp.  will have
14,500,801 shares of common stock outstanding.

Syms Corp. currently operates a chain of thirty seven "off-price" apparel stores
located  throughout  the  Northeastern  and Middle  Atlantic  regions and in the
Midwest,  Southeast and Southwest. Each Syms store offers a broad range of first
quality,  in-season  merchandise  bearing  nationally  recognized  designer  and
brand-name labels.

CERTAIN  INFORMATION IN THIS PRESS RELEASE INCLUDES  FORWARD-LOOKING  STATEMENTS
(AS SUCH TERM IS  DEFINED IN THE  PRIVATE  SECURITIES  LITIGATION  REFORM ACT OF
1995) AND  INFORMATION  RELATING TO THE COMPANY THAT ARE BASED ON THE BELIEFS OF
THE  MANAGEMENT OF THE COMPANY AS WELL AS  ASSUMPTIONS  MADE BY AND  INFORMATION
CURRENTLY  AVAILABLE TO THE  MANAGEMENT OF THE COMPANY.  WHEN USED IS THIS PRESS
RELEASE,  THE WORDS "ANTICIPATE",  "BELIEVE",  "ESTIMATE",  "EXPECT",  "INTEND",
"PLAN",  AND  SIMILAR  EXPRESSIONS  AS  THEY  RELATE  TO THE  COMPANY,  IDENTIFY
FORWARD-LOOKING  STATEMENTS.  SUCH  STATEMENTS  REFLECT THE CURRENT VIEWS OF THE
COMPANY  WITH  RESPECT  TO FUTURE  EVENTS,  THE  OUTCOME  OF WHICH IS SUBJECT TO
CERTAIN RISKS,  INCLUDING AMONG OTHERS GENERAL  ECONOMIC AND MARKET  CONDITIONS,
DECREASED CONSUMER DEMAND FOR THE COMPANY'S PRODUCT, POSSIBLE DISRUPTIONS IN THE
COMPANY'S COMPUTER OR TELEPHONE SYSTEMS, POSSIBLE WORK STOPPAGES, OR INCREASE IN
LABOR  COSTS,  EFFECTS OF  COMPETITION,  POSSIBLE  DISRUPTIONS  OR DELAYS IN THE
OPENING OF NEW STORES OR  INABILITY  TO OBTAIN  SUITABLE  SITES FOR NEW  STORES,
HIGHER THAN  ANTICIPATED  STORE CLOSINGS OR RELOCATION  COSTS,  HIGHER  INTEREST
RATES,  UNANTICIPATED  INCREASES IN  MERCHANDISE  OR  OCCUPANCY  COSTS AND OTHER
FACTORS WHICH MAY BE OUTSIDE THE COMPANY'S CONTROL.  SHOULD ONE OR MORE OF THESE
RISKS OR  UNCERTAINTIES  MATERIALIZE,  OR SHOULD  UNDERLYING  ASSUMPTIONS  PROVE
INCORRECT,  ACTUAL RESULTS OR OUTCOMES MAY VARY  MATERIALLY FROM THOSE DESCRIBED
HEREIN AS ANTICIPATED,  BELIEVED,  ESTIMATED,  EXPECTED,  INTENDED,  OR PLANNED.
SUBSEQUENT  WRITTEN  AND ORAL  FORWARD-LOOKING  STATEMENTS  ATTRIBUTABLE  TO THE
COMPANY  OR  PERSONS  ACTING ON ITS  BEHALF  ARE  EXPRESSLY  QUALIFIED  IN THEIR
ENTIRETY BY THE CAUTIONARY STATEMENTS IN THIS PARAGRAPH.