EXHIBIT 12.1

The Neiman Marcus Group, Inc.

Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

	Years Ended
	July 31,			August 2,			August 3,			July 28,			July 29,
(in thousands, except ratios)	2004			2003			2002 (1)			2001			2000
Fixed Charges:
Interest on debt	$	20,871		$	18,686		$	20,832		$	20,418		$	28,145
Amortization of debt discount and expense	220			254			251			247			267
Interest element of rentals	20,823			19,041			17,952			19,008			17,193
Total fixed charges	$	41,914		$	37,981		$	39,035		$	39,673		$	45,605
Earnings:
Earnings before income taxes, minority interest and change in accounting principle	$	329,313		$	205,840		$	162,244		$	178,440		$	222,979
Add back:
Fixed charges	41,914			37,981			39,035			39,673			45,605
Amortization of capitalized interest	424			401			312			258			232
Less:
Capitalized interest	(3,036		)	(1,425		)	(3,116		)	(1,954		)	(427		)
Total earnings	$	368,615		$	242,797		$	198,475		$	216,417		$	268,389
Ratio of earnings to fixed charges	8.8			6.4			5.1			5.5			5.9

(1)  2002 includes fifty-three weeks of operations while the other years presented consist of fifty-two weeks of operations.

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