EX-99.1

FOR IMMEDIATE RELEASE


                                            ANTONE F. MOREIRA
                                            Vice President, Treasurer
                                            And Chief Financial Officer
                                            (201) 902-9600


SYMS CORP ANNOUNCES SPECIAL CASH DIVIDEND

SECAUCUS, NEW JERSEY, JULY 12, 2007 - Syms Corp (NYSE:SYM),  a leading off-price
retailer, announced today that its Board of Directors declared on July 12, 2007,
a special,  one-time cash dividend of $0.60 per common share,  payable August 6,
2007, to shareholders of record as of July 26, 2007.

Syms Corp operates a chain of 33 "off-price"  apparel stores located  throughout
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 IN 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.