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TRUWORTHS HALTS PLAN FOR PERSONAL LOANS

Release Date: 04/05/2001 14:26
Code(s): TRU
Wrap Text
TRUWORTHS INTERNATIONAL LIMITED
May 4, 2001
TRUWORTHS HALTS PLAN FOR PERSONAL LOANS

Fashion retailer Truworths International Ltd said today it would not proceed further with plans to offer personal loans to selected account holders on a pilot basis.
Truworths announced in February that the proposed loans offering would be undertaken by a newly formed company as a joint venture with Woolworths Financial Services (Pty) Ltd, a specialist provider of financial services in the retail industry.
Truworths said both parties had mutually agreed after review to withdraw from the pilot venture.
Truworths said it would in time offer other products in conjunction with its existing offering of life insurance, under the Trucover banner. - ends -
ISSUED FOR: Truworths International
BY: De Kock & Kerkhoff Communication Consultants INQUIRIES: Wayne van der Merwe, 021 - 460 7955
Kathy Olsen, 021 - 460 7910
Mike Kerkhoff, 021 - 424 5280
De Kock & Kerkhoff Communication Consultants
P O Box 2789 Cape Town 8000
Tel 27 + 21 + 424-5280
Fax 27 + 21 + 424-5290 mike@dkk.co.za

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