Woolworths Holdings Limited - Statement On Country Road Limited

Woolworths Holdings Limited - Statement On Country Road Limited                 
WOOLWORTHS HOLDINGS LIMITED                                                     
Registration number 1929/001986/06                                              
JSE Code: WHL                                                                   
ISIN: ZAE000028288                                                              
STATEMENT ON COUNTRY ROAD LIMITED                                               
Woolworths Holdings Limited"s Australian subsidiary, Country Road Limited today 
announced on the Australian Stock Exchange that it has entered into an agreement
with Myer Grace Bros that will see a material increase in the volume of Country 
Road Limited product available across the entire Myer Grace Bros store network  
and the creation of ten destination concept stores.  The agreement allows for   
Myer Grace Bros to be the only department store to stock Country Road product.  
The agreement will give Country Road Limited greater control over its brand,    
ensure improved product presentation and allow an increased level of consistent 
brand marketing.                                                                
The arrangement will allow Country Road Limited to adopt a retail-focussed      
business model rather than the current wholesale-based model.  Through a close  
working relationship with one department store, Country Road Limited will be    
able to dramatically reduce lead times, operate closer to market and therefore  
improve the fashionability of ranges.                                           
The agreement is a continuation of Country Road Limited"s move to be a more     
efficient, less complex business providing high quality, good value, fashionable
product.  It comes on the back of the USA exit, a remodelling of business       
processes and supply chain that incorporated the complete replacement of its    
core IT systems and the recent appointment of a Design Director.                
Country Road Limited intends to open around ten new retail stores over the next 
two years with 5 of those to open in 2003/2004.  It will also refurbish seven   
stores over the same period including its flagship Sydney store in Pitt Street. 
A combination of this and the dramatic increase in the depth of the Country Road
Limited range across the 64 store Myer Grace Bros network will ensure a much-   
enhanced availability of Country Road Limited product to the widest cross       
section of Australian consumers.                                                
4 July 2003                                                                     
Contact : Simon Susman - Chief executive officer - 083 252 5696                 
Sponsor HSBC                                                                    
Done Hattingh                                                                   
HSBC                                                                            
Tel: (011) 481-4434                                                             
Mobile: 0836506095                                                              
Date: 04/07/2003 09:20:25 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department