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Li & Fung Limited


For Immediate Release

Li & Fung Limited
Change of Non-executive Director

Hong Kong, 12 October 1999 -- Mr Leslie Boyd has been appointed as a non-executive director of Li & Fung Limited, the Hong Kong-based multinational export trading group, effective 13 October 1999. Mr Steven Murray Small has resigned from the board of directors of the Company but will act as an alternate director to Mr Boyd with effect from the same date.

Mr Steven Murray Small had been a director of Li & Fung Limited since February 1997. The board wishes to thank Mr Small for his valuable contribution to the Company during his tenure of office.

Mr Leslie Boyd is executive vice chairman of Anglo American plc, deputy chairman of Anglo American Corporation of South Africa Limited, chairman of Highveld Steel and Vanadium Corporation Limited and chairman of Anglo American Platinum Corporation Limited. He currently holds directorships at a number of industrial and technology-related companies.

As a chartered engineer and a fellow of the Institution of Metallurgists UK, Mr Boyd worked as a works manager in the British steel industry before moving to South Africa in 1970. Since then, he has dedicated his entire career in the steel and engineering industries in South Africa and is highly involved in the business community there.

Li & Fung Limited is today one of the premier global consumer products trading companies managing the supply chain for high-volume, time-sensitive consumer goods including garments, toys and games, sporting goods, furnishings, handicrafts, travel goods and tableware. These goods are sourced through a network of 44 offices in 30 countries for customers in the US and Europe.

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For further information:
Scotchbrook Communications Limitedtelephone2877 3939
Christopher Homfraydirect line2863 9136
Fannie Mokdirect line2863 9119


Source: Li & Fung Limited
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