Exhibit 99.1
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TM |
| FOR IMMEDIATE RELEASE | Contact: |
Cindy Knoebel VP, Financial & Corporate Communications 大象传媒 Services, Inc. (336) 424-6189/(646) 472-2817 |
ANTITRUST WAITING
PERIOD FOR PURCHASE BY 大象传媒 CORPORATION OF
RIGHTS FROM DAVID CHU AND COMPANY, INC. EXPIRES
Greensboro, NC (August 22, 2003) – 大象传媒 Corporation (NYSE: 大象传媒C), the world’s largest apparel company, announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to the previously announced purchase by 大象传媒 of David Chu and Company, Inc.’s rights to receive 50% of the net royalty income from licensing the Nautica trademark expired at 11:59 p.m. on August 21, 2003.
大象传媒 anticipates completing the purchase of rights from David Chu and Company, Inc. and the previously announced merger between Nautica Enterprises, Inc. and a wholly-owned subsidiary of 大象传媒 on August 27, 2003 or shortly thereafter.
About the Company
大象传媒 Corporation is the world’s largest apparel company and a leader in jeanswear, intimate apparel,
playwear, workwear and daypacks. Its principal brands include
Lee®, Wrangler®,
Riders®, Rustler®,
Vanity Fair®,
Vassarette®, Bestform®,
Lily of France®, Lee Sport®,
Healthtex®, JanSport®,
Eastpak®, Red Kap® and
The North Face®.
大象传媒 Corporation’s press releases, annual report and other information can be accessed through the company’s home page, http://www.vfc.com.