TRUWORTHS OFFER ON SPORTSGIRL BACKED

APRIL 14, 2000

TRUWORTHS INTERNATIONAL LTD SAID TODAY THE VOLUNTARY ADMINISTRATORS OF ITS
AUSTRALIAN SUBSIDIARY, SPORTSGIRL SPORTSCRAFT GROUP PTY LTD, HAD RECOMMENDED
ACCEPTANCE OF A PROPOSAL THAT WOULD RESULT IN AN INCREASED DIVIDEND TO
UNSECURED CREDITORS.

TRUWORTHS SAID THE ADMINISTRATORS' SECOND REPORT TO SPORTSGIRL CREDITORS
SUPPORTED A PROPOSED DEED OF COMPANY ARRANGEMENT AS BEING IN THEIR COMMERCIAL
INTERESTS.

THE OFFER INVOLVED TRUWORTHS GIVING UP AROUND HALF OF ANY CASH DIVIDENDS IT
COULD RECEIVE FROM THE SALES OF SPORTSGIRL BUSINESSES.

THE ADMINISTRATORS REPORTED THIS WOULD PROVIDE AN ADDITIONAL AMOUNT OF AROUND
A$4,5 MILLION TO BE PAID TO THE ESTIMATED A$23 MILLION OF UNSECURED CREDITORS.
IF SPORTSGIRL WAS PLACED INTO LIQUIDATION, THE RETURN TO CREDITORS WAS EXPECTED
TO BE BETWEEN 10 AND 14 CENTS.  THE RESULT OF THE DEED OF COMPANY ARRANGEMENT
WOULD BE THAT UNSECURED CREDITORS' RETURNS WOULD RISE TO BETWEEN 27 AND 39
CENTS IN THE DOLLAR - ALMOST THREE TIMES GREATER.  TRUWORTHS WOULD HOWEVER
RECEIVE SIX CENTS IN THE DOLLAR.

THE ADMINISTRATORS HAD RECOMMENDED THAT THE DEED BE ACCEPTED RATHER THAN
CREDITORS BECOMING EMBROILED IN COSTLY, LONG-TERM LITIGATION.  IT WAS IN
CREDITORS' INTERESTS AS A WHOLE TO ACCEPT THE PROPOSAL ON COMMERCIAL GROUNDS.
THE ADMINISTRATORS SAID CREDITORS SHOULD BE AWARE THAT THERE WAS A REAL RISK
THAT LITIGATION PROCEEDINGS IN A LIQUIDATION MAY ERODE THE POOL OF FUNDS
AVAILABLE FOR A DIVIDEND WITHOUT ANY RECIPROCAL BENEFIT. IF THESE PROCEEDINGS
WERE UNSUCCESSFUL, CREDITORS MIGHT RECEIVE A RETURN BETWEEN NIL AND FIVE CENTS
IN THE DOLLAR.

IF THE DEED WAS ACCEPTED BY CREDITORS, THE ADMINISTRATORS ESTIMATED AN INTERIM
DIVIDEND MIGHT BE PAID TO CREDITORS WITHIN THREE TO SIX MONTHS AND A FINAL
DIVIDEND WITHIN NINE TO 18 MONTHS, SUBJECT TO THE ISSUES THAT MIGHT EVOLVE
DURING THE ADMINISTRATION.

THE ADMINISTRATORS WOULD, AS REQUIRED BY THE CORPORATIONS LAW, BE SUBMITTING A
REPORT TO THE AUSTRALIAN SECURITIES AND INVESTMENT COMMISSION
- ENDS -
ISSUED FOR  TRUWORTHS INTERNATIONAL LTD

BY          DE KOCK & KERKHOFF COMMUNICATION CONSULTANTS
INQUIRIES   MICHAEL MARK 021-460-7910
            CHRIS DURHAM 021-460-7502/082 824 0280

            MIKE KERKHOFF 021-424-5280/082 882 8559