Exhibit 99.3

                        Contact:
                        Antone F. Moreira
                        Vice President, Treasurer
                        and Chief Financial Officer
                        (201) 902-9600

Syms Corp Announces Special Cash Dividend

Secaucus, New Jersey, April 7, 2005 - Syms Corp (NYSE:SYM), a leading off-price
retailer, announced today that its Board of Directors declared on April 7, 2005,
a special, one-time cash dividend of $1.00 per common share, payable May 12,
2005, to shareholders of record as of April 27, 2005.

Marcy Syms, CEO of the Company, stated that: "The Board is pleased with all of
the positive developments occurring at the Company. Our decision to pay the
special dividend is a great result for the Company and its shareholders, and we
look forward to the Company's continued success."

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.