2007 May 17
AEON Stores (Hong Kong)

AEON STORES TO CLOSE JUSCO TSEUNG KWAN O STORE 　 REMAINS OPTIMISTIC ABOUT HONG KONG RETAIL MARKET AND CONTINUES BUSINESS EXPANSION IN THE TERRITORY

(HONG KONG, 17 May 2007) - JUSCO Tseung Kwan O Store (“TKO Store”) run by General Merchandise Store (“GMS”) operator AEON Stores (Hong Kong) Co., Limited, (“AEON Stores” or the “Group”) (Stock code: 984) will close by the end of June 2007. The store will close on 20 June 2007 but its supermarket will partially operate until 30 June 2007.

With agreement not reached regarding new rental contract arrangements with the landlord, the Group decided to close the TKO Store after its rental contract at East Point City in Tseung Kwan O expires in June 2007.

Mr. Lam Man Tin, Managing Director of AEON Stores, said, “We thank customers of our TKO Store, many of whom are residents in the area for their patronage and support over the past 10 years. Although the TKO Store will be closed, our business expansion in Hong Kong will continue in full thrust in the coming years. Following the success of our first two JUSCO Supermarket outlets, we will open a third supermarket in the Grand Waterfront Plaza, Tokwawan by mid-2007. It will be the largest supermarket in the district and will be fully capable of catering the daily needs of customers. As always, we will look for suitable locations to open more new stores, especially for JUSCO $10 Plaza and JUSCO Supermarket outlets, to bring our excellent products and services to more customers”

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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 merchandise stores (GMS). Currently, it operates 10 GMS, 2 independent supermarkets, 33 independent Living PLAZA by AEON, 30 independent Daiso Japan, 1 independent Bento Express by AEON and 4 Mono Mono and 3 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