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Press contactPublicis Consultants.Paris
Lydie Le NinivinTel : 01 44 43 79 51 / 06 13 38 14 59
Axel BaviereTel : 01 44 43 73 11 / 06 60 89 67 00
lydie.le.ninivin@consultants.publicis.fr / axel.baviere@consultants.publicis.fr


Opening of the A.S. Watson offer on Marionnaud

Paris - February 1, 2005 - A.S. Watson (France) SAS, a wholly-owned subsidiary of Hutchison Whampoa Limited (HKEx : 0013; LSE: HWH), announced on January 28, 2005, that the AMF granted a visa nº 05 048 on the information notice provided by the company relating to the offer, announced on Friday, January 14, 2005, to Marionnaud shareholders SA (MAR : FP).

The offer is opened as from today.

Remind of the offer conditions

The offer is conditional to obtaining over 50.01% of the issued share capital.

Two specimens of the information notice relating to the offer are available on the AMF website (www.amf-france.org),
and on the Hutchison Whampoa website (www.hutchison-whampoa.com) and may be also
provided free by :
UBS Limited, 65, rue de Courcelles 75008 Paris
Calyon, 9, quai du President Paul Doumer, 92920 Paris La Defense Cedex

About A.S. Watson

A.S. Watson (ASW) is one of the longest established and best-known trading names originating in Asia. With a history dating back to 1828, ASW has evolved into a truly international retail and manufacturing business with operations in 21 markets (excluding Marionnaud) across Asia and Europe.

In Asia, A.S. Watson's health and beauty chain operates under the name of Watsons Your Personal Care Store, which at present has over 950 outlets in 9 markets. In Europe, A.S. Watson's current retail network comprises of 7 health and beauty retail brands, with 3,482 stores in 10 countries:

ASW Health & Beauty chainsCountries/Markets where it operates
WatsonsHong Kong, China, Taiwan, Macau, Singapore,
Malaysia, Thailand, Philippines, Korea
KruidvatNetherlands, Belgium
TrekpleisterNetherlands
ICI PARIS XLNetherlands, Belgium, Luxembourg
RossmannGermany, Poland, Hungary, Czech Republic
SuperdrugUnited Kingdom
SaversUnited Kingdom
DrogasLatvia, Lithuania

A wholly-owned subsidiary of Hong Kong-based multinational conglomerate Hutchison Whampoa Limited, ASW operates a total of 14 retail brands with over 4,800 stores spanning from health & beauty chains to food, electronics & general merchandise, and airport duty free. It is also an established player in the beverage industry, providing a full range of beverages from bottled water, fruit juices, soft drinks and tea products to some of the world's finest wine labels via its international wine wholesaling and distribution network. ASW currently employs over 64,000 people worldwide and in 2003, its turnover was over US$ 7 billion.

For any further information, please connect you on www.aswatson.com


Source: Hutchison Whampoa Limited
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