News Release

2003 May 26
AEON Stores (Hong Kong)

JUSCO PROPOSES CHANGE OF COMPANY NAME TO AEON STORES (HONG KONG) CO., LIMITED 永旺(香港)百貨有限公司

(HONG KONG, 17 May 2003) - The board of directors of JUSCO Stores (Hong Kong) Co., Limited (the "Company", together with its subsidiaries, the "Group") has proposed to change the name of the Company to "AEON Stores (Hong Kong) Co., Limited" and the Chinese name of the Company to "永旺(香港)百貨有限公司" subject to (1) the passing of the special resolution by the shareholders of the Company at the annual general meeting to be held on 19 June 2003; and (2) the approval by the Registrar of Companies in Hong Kong.

The change of company name was proposed in accordance to the change made to the holding company AEON Co., Ltd. (previously known as "JUSCO Co., Ltd.") on 21 August 2001. AEON Co., Ltd. intends that all its major subsidiaries shall also carry the name "AEON" as part of their company names.

Mr. Kazumasa Ishii, Managing Director of JUSCO, commented, "The unified style of company name will enhance a strong, unique global enterprise image for AEON group of companies. The change of our company name will gain an immediate publicly recognisable corporate relationship with AEON Group. We believe that the common identity will further strengthen the Group's corporate image and enhance our future business development."

Mr. Kazumasa Ishii concluded, "We consider that the change of name will not have material impact on our goodwill in the retailing industry given the fact that the Group's retailing business will continue to be carried out under the name of "JUSCO 吉之島".

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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, 30 independent Living PLAZA by AEON, 32 independent Daiso Japan, 1 independent Bento Express by AEON and 4 Mono Mono and 4 KOMEDA'S Coffee in densely populated districts in Hong Kong. It also operates 21 GMS and 15 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

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