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StudioDirect selects Danzas AEI Intercontinental to anchor its retailing initiative

Company to act as logistics backbone supporting StudioDirect offering to multi-billion dollar mid-size retail markets

Darien, CT (March 12, 2001) -- Danzas AEI Intercontinental has been chosen by StudioDirect, the new private label company from Li & Fung targeting the small to mid-size U.S. retailing trade, to deliver online fulfillment and physical distribution services.

StudioDirect, which launched in mid-February 2001, caters to the nearly 30,000 U.S. wholesalers and retailers with annual sales between $10 million and $300 million. As part of Li & Fung, the Hong Kong-based global leader in consumer product sourcing, StudioDirect offers its customers access to a trusted private label partner with more than 95-years of experience and extraordinary product development capabilities. Customers can access StudioDirect at www.studiodirect.com to quickly and easily place product orders online. Of course, StudioDirect account representatives are always available to talk directly with customers and help them make the right product decisions for their business.

Using Danzas AEI Intercontinental's e-procurement tools, StudioDirect dispatches its customer orders to suppliers and factories in 32 countries using Li & Fung's global network of offices. Once the goods are ready to ship, Danzas AEI Intercontinental's Cargo Management Services unit (CMS) manages the entire process from pick-and-pack, shipping, and customs brokerage at U.S. ports of entry and final distribution to the stores.

"The success of our strategy will depend as much on timely and reliable fulfillment as on leading edge marketing and merchandising," said Rick Darling, Senior Vice President of Merchandising and Logistics at StudioDirect. "Because Danzas AEI owns the broadest portfolio of online and physical distribution tools, they enable StudioDirect to offer our customers a seamless, trouble-free service from the second they place an order to the moment the goods arrive at their door."

"Businesses looking to expand global brand awareness know that a sound fulfillment strategy is pivotal to building value and market share," said Michael T. Johnson, Director of Global Business Development for Danzas AEI Intercontinental's CMS unit. "Our product portfolio, backed by seasoned, knowledgeable specialists, is designed to provide these businesses with a fully bundled, turnkey solution to their e-fulfillment needs."

Added Darling of StudioDirect, "Li & Fung's long experience as a trader and supply-chain manager has taught us that small and mid-size retailers demand the same benefits of product customization as do the bigger companies. They not only want the economies of scale and margin benefits that come from aggregating orders online, but they want to customize their orders to stay in step with diverse and ever-changing consumer buying behavior. The launch of StudioDirect with Danzas AEI Intercontinental positioned as the logistics backbone, will meet those needs."

About StudioDirect
StudioDirect offers small and medium sized retailers private label programs featuring great product selection, customization options and pricing without the high order minimums typically associated with private label. The company delivers a full-service solution including trend information, product development by a team of expert merchandisers, sourcing, factory management, quality control and shipping to the customer's door. StudioDirect products include: golf apparel and accessories, men's and women's apparel, home décor and seasonal gift items, with new products being added on a continual basis.

As part of Li & Fung, the world's leading private label company, StudioDirect operates with all of the advantages of a multi- billion dollar, 95-year old company, and passes these benefits on to its customers.

StudioDirect is already receiving recognition for the strength of its business model, including the Year 2000 Goldman Sachs' "Gold Medal" stamp of approval. It has also attracted a host of strategic partners including The Doneger Group, Magic Online, CIT, and Pantone® Color. The Company is headquartered in San Francisco with offices in New York City and is led by CEO, John Suh.

Logistics. Worldwide. With a strong presence on every continent, the Danzas Group is the world's leading provider of logistics solutions. Its 38,000 employees worldwide generate annual net sales of CHF 11.4 billion (EUR 7.1 billion, USD 7.5 billion). Danzas is based in Basel, Switzerland, and belongs to the Deutsche Post World Net.

For further information please contact:
Candace Bouchard
Manager Corporate Communications
TL: +203 655 5692
Fax: +203 655 5895
E-mail: exocb@aeilogis.com

Deborah Darrell
Account Director for StudioDirect
LaForce and Stevens
TL: +212 242 9353
E-mail: ddarrell@laforce-stevens.com