Hong Kong, 24 January 2002
In response to yesterday's and today's news reports about the possible impact of K-Mart's filing for Chapter 11, Li & Fung Limited would like to state that it has no business dealings with K-Mart and K-Mart has never been a client of Li & Fung.
Speculations about possible impact on Li &Fung in connection with K-Mart are totally unfounded.
About Li & Fung Limited
Li & Fung Limited is today one of the premier global consumer products export trading companies managing the supply chain for high-volume, time-sensitive consumer goods, including garments, fashion accessories, toys and games, sporting goods, furnishings, handicrafts, shoes, travel goods and tableware. These goods are sourced through a network of offices in 37 countries for customers in the US, Europe and Asia. (Corporate Web site: www.lifung.com)
For inquiries, please contact:
| Golin/Harris Forrest | Telephone: 2522-6475 |
| Fannie Mok | Direct line: 2501-7970 |
| Carson Chan | Direct line: 2501-7984 |
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