Organisational Announcement

Wednesday January 31st, 2007

AS Watson announces that the transition mission following the acquisition of Marionnaud by the AS Watson Group now being completed, Hugues Witvoet, CEO of the Luxury Division, is leaving the Group to meet other professional challenges. AS Watson would like to thank Mr Witvoet for the work carried out on the operational and strategic projects, particularly the restructuring of logistics, modernisation of the information systems and development of the new concept store for Marionnaud recently presented with success.
All Luxury Division operations will now report directly to Dominic Lai, AS Watson Group Managing Director.

AS Watson is also pleased to announce the appointment of Christian Salbaing, Deputy Chairman of Hutchison Whampoa Europe as Deputy Chairman of the AS Watson Luxury Division with immediate effect. Christian Salbaing will assist Dominic Lai in the management of the Luxury Division.