Statement On Country Road`s Annual General Meeting Held Today

Statement On Country Road`s Annual General Meeting Held Today                   
Woolworths Holdings Limited                                                     
JSE Code:  WHL                                                                  
ISIN Code:  ZAE000028288                                                        
Woolworths Holdings Limited`s Australian subsidiary, Country Road held an Annual
General Meeting today at which Ian Moir, the Chief Executive Officer, updated   
the meeting on current trading.                                                 
" In relation to our performance for the first quarter of this year, it is      
pleasing to note that both sales and profitability are on budget and up on last 
year.  We have now sold our ranges out to June next year to our wholesale       
customers and our main accounts Myer and David Jones gave a very positive       
response to those ranges in terms of fashionability, quality and price.         
It is a solid indication that the business is back on track and we will continue
to focus our attentions on driving sales and creating a leaner, more effective  
business." concluded Moir.                                                      
The Australian retail environment has improved slightly with less discounting   
activity than last year, but remains highly competitive.                        
END                                                                             
Contact :      Norman Thomson,  Finance Director on 083 251 6354                
Date: 24/10/2002 01:30:18 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department