2002 May 15
AEON Stores (Hong Kong)

JUSCO SIGNED AGREEMENT WITH HANG LUNG PROPERTIES TO OPEN 　"$10 PLAZA" FLAGSHIP STORE OUTSIDE ITS GMS AT CAUSEWAY BAY

THE LARGEST $10 SHOP IN HONG KONG

(Hong Kong, May 15, 2002) - General Merchandise Stores (GMS) operator, JUSCO Stores (Hong Kong) Co., Limited, ("JUSCO" or the "Group") (Stock code: 0984) today signed a lease agreement with Hang Lung Properties Limited for opening its "$10 Plaza" flagship store at Causeway Bay in the beginning of July. This will be the first "$10 Plaza" located outside JUSCO's stores.

Occupying 26,000 sq. ft. and locating on 1/F, Family Square, Kingston Street, Causeway Bay, the "$10 Plaza" will be the largest $10 shop among the industry players in Hong Kong. Duplicating the success of the previous "$10 Plazas", the new flagship "$10 Plaza" will provide over 10,000 fashionable items exclusively imported from Japan. All the items in the "$10 Plaza" will be sold at a standard price of HK$10. The merchandise in the "$10 Plaza" will comprise kitchen items, stationary, glass, ceramics, interior items, beauty care products, etc.

Commenting on the new business move, Mr. Kazumasa Ishii, Managing Director of JUSCO, said, "We considered the currently weak economic conditions to be a golden opportunity for us to expand and consolidate our position in the "$10 Plaza" niche market. We are very impressed by the high customer flows in the "$10 Plazas" in our different stores. These encouraging results steer us to open our "$10 Plaza" flagship store outside our existing GMS at the busy shopping area, Causeway Bay. We believe this prime location will further boost our sales from the "$10 Plazas". In the future, we will open more"$10 Plazas" both inside our GMS and in other favorable locations outside our existing stores. This is to provide our customers with quality merchandise at bargain prices so as to realize our corporate philosophy of putting "Customer First"."

JUSCO's first "$10 Plaza" was opened in September 2000 in Tuen Mun Store, which was well received by customers in the area. In view of the success, JUSCO has opened three additional "$10 Plazas" in other JUSCO stores at Tsz Wan Shan, Tseung Kwan O and Tsuen Wan. Coming soon will be JUSCO's new "$10 Plaza" to be opened inside its Whampoa Store later this month.

Aiming to become one of the best retailers in Southern China, JUSCO plans to open at least 10 GMS in Southern China in five years and establish two to three GMS in Hong Kong in the coming three years.

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About AEON Stores
AEON Stores was established in Hong Kong in 1985 and listed on the Hong Kong Stock Exchange in 1994. The Group is mainly engaged in the operation of general retail businesses (General Merchandise Stores and Independent Supermarkets). Currently, it operates 10 GMS, 2 independent supermarkets, 31 independent Living PLAZA by AEON, 31 independent Daiso Japan, 4 Mono Mono, 4 KOMEDA'S Coffee and 1 JELYCO DO By KOMEDA'S Coffee in densely populated districts in Hong Kong. It also operates 21 GMS and 17 independent supermarkets in Guangdong Province, the PRC.

For more information：
AEON Stores (Hong Kong) Co., Limited
Corporate Communication Department
Tel.：（852）2165 0777
Email：aeonpr@aeonstores.com.hk