TRUWORTHS CONSIDERING COMPROMISE OVER SPORTSGIRL

TRUWORTHS INTERNATIONAL LIMITED
FEBRUARY 15, 2000

TRUWORTHS INTERNATIONAL LTD CONFIRMED TODAY IT WAS CONSIDERING PROPOSING A
DEED OF COMPANY ARRANGEMENT THAT WOULD ENHANCE DIVIDENDS TO CREDITORS OF ITS
AUSTRALIAN SUBSIDIARY,  SPORTSGIRL SPORTSCRAFT GROUP (PTY) LTD, WHICH WAS
PLACED UNDER VOLUNTARY ADMINISTRATION LAST NOVEMBER.

SUCH AN ARRANGEMENT IS A NEGOTIATED COMPROMISE ON THE DIVIDEND ACCEPTED BY
UNSECURED CREDITORS IN FULL AND FINAL SETTLEMENT OF THEIR CLAIMS.

TRUWORTHS SAID THE VOLUNTARY ADMINISTRATORS HAD ADVISED THAT THE SALE TO
DATE OF THREE COMPONENTS OF THE AUSTRALIAN BUSINESS - SPORTSGIRL,

SPORTSCRAFT  AND DAVID LAWRENCE - HAD REALISED A$37 MILLION IN CASH AND
FORWARD ORDERS. IT WAS HOPED TO FINALISE THE SALE OF THE REMAINING

COMPONENTS - AYWON MANUFACTURING AND SPORTSGIRL NEW ZEALAND - IN MARCH.
TRUWORTHS SAID IT WOULD NOT DECIDE ON A DEED OF ARRANGEMENT UNTIL THE FINAL
OUTCOME OF THE SALE PROCESS WAS KNOWN AND IT HAD SEEN THE FIRST CREDITORS'
REPORT FROM THE VOLUNTARY ADMINISTRATORS.   THE ADMINISTRATORS HAD  ADVISED
THAT SPORTSGIRL CREDITORS COULD EXPECT BETWEEN 12 AND 23 CENTS IN THE

AUSTRALIAN DOLLAR IF NO DEED OF COMPANY ARRANGEMENT WAS PROPOSED AND THE
COMPANY WAS FORCED INTO LIQUIDATION.
ENDS
ISSUED FOR TRUWORTHS INTERNATIONAL LTD
BY DE KOCK & KERKHOFF COMMUNICATION CONSULTANTS
INQUIRIES CHRIS DURHAM 021-460-7502
                    MIKE KERKHOFF 021-424-5280