TRUWORTHS INTERNATIONAL - SPORTSGIRL STORE NETWORK SOLD

13 DECEMBER 1999
SPORTSGIRL STORE NETWORK SOLD

THE VOLUNTARY ADMINISTRATORS OF TRUWORTHS INTERNATIONAL LTD'S AUSTRALIAN
SUBSIDIARY, SPORTSGIRL SPORTSCRAFT GROUP PTY LTD, TODAY ANNOUNCED IN MELBOURNE
THE SUCCESSFUL SALE BY HINDAL CORPORATE PTY LTD OF THE SPORTSGIRL CHAIN OF
STORES TO SUSSAN CORPORATION PTY. LTD FOR AN UNDISCLOSED SUM.

THE VOLUNTARY ADMINISTRATORS WERE APPOINTED LAST MONTH BY THE SPORTSGIRL
SPORTSCRAFT BOARD AFTER WORSE THAN EXPECTED LOSSES BY ITS SUBSIDIARY PROMPTED
TRUWORTHS TO REASSESS ITS INVESTMENT.

THE VOLUNTARY ADMINISTRATORS SAID THAT SUBJECT TO DISCUSSIONS WITH VARIOUS
LANDLORDS, ALL 104 STORES WILL CONTINUE TO OPERATE AND ALL STAFF WORKING WITHIN
THESE STORES WILL BE RETAINED.

THE SALE WAS NEGOTIATED BY HINDAL CORPORATE PTY LTD WHO ARE NOW CONTINUING TO
WORK ON THE SALE OF THE OTHER ENTITIES IN THE GROUP, THE MANUFACTURING ARM,
AYWON, AND THE RETAIL DIVISIONS, SPORTSCRAFT AND DAVID LAWRENCE.

MR DAVID BEATTY OF HINDAL CORPORATE SAID THE SALE PROCESS FOR THOSE REMAINING
COMPANIES IS WELL ADVANCED.

"THE LEVEL OF INTEREST IN THESE BUSINESSES IS HIGH AND WE EXPECT TO BE IN A
POSITION TO REPORT ON SALE OUTCOMES WITHIN THE NEXT FEW WEEKS." MR BEATTY SAID.
THE ADMINISTRATORS SAID THEY HOPED TO HAVE THE COMPANY'S REPORT AS TO AFFAIRS
COMPLETED BY THE END OF DECEMBER.

THE ULTIMATE POSITION OF THE CREDITORS WILL OBVIOUSLY BE DETERMINED BY THE
FINAL OUTCOME OF THE SALE OF ALL OF THE BUSINESSES, THEY SAID.
-ENDS-
ISSUED FOR:    TRUWORTHS INTERNATIONAL LIMITED

BY:            DE KOCK & KERKHOFF COMMUNICATION CONSULTANTS

ENQUIRIES:     MR MICHAEL MARK,       021 - 460-7502

               MIKE KERKHOFF, DEK&K,  021 - 424 5280