(Hong Kong, December 15, 2002) - The new store of General Merchandise Stores (GMS) operator, JUSCO Stores (Hong Kong) Co., Limited, ("JUSCO" or the "Group") (Stock code: 0984) at Zhuhai, JUSCO Zhuhai Yale Plaza Store has commenced soft operation and will officially open on December 18, 2002. Realizing its goal to establish a strong foothold in the southern China market, JUSCO has been actively opening new stores in the southern China region.

¡@The new Zhuhai store is located on the second to fourth floor of Yale Plaza, 1088 Feng Huang Nan Road, Zhuhai, Guangdong Province, PRC, covering a total floor area of 10,340 square metres. Currently, it has approximately 380 staff. Surrounded by luxurious residential buildings and with retail shops and restaurants nearby, the new store is situated in Zhuhai's busiest district.

¡@Mr. Kazumasa Ishii, Managing Director of JUSCO, said, "Further to the successful opening of our Shenzhen Store earlier this year, I am particularly pleased to announce the Group's opening of another GMS in Zhuhai within the year. This move signifies another major step taken in enlarging our market share in southern China. Carrying our commitment of "Customer First" forward, we believe the Zhuhai Store will provide our customers in Zhuhai with the best products and services, bringing them a brand-new shopping experience and shopping pleasure."

JUSCO's Zhuhai Yale Plaza Store is structured on the concept of "a dynamic JUSCO", showing customers the energetic and dynamic side of the Group. Tailored to customers' lifestyles, the new store provides goods and specialist services which well satisfy their needs. Inside the supermarket on the second floor of the Zhuhai Store, the bakery shop, "La Boheme" rolls out freshly baked bread and cakes everyday. From kidswear to toys and stationary, customers can find all the goods for kids at the children's department on the third floor, providing added convenience in shopping. With the provision of a diverse range of kitchenware, bedroom accessories, interior decoration items as well as a wide selection of sports and fitness equipment, customers can truly enjoy one-stop shopping convenience at the houseware and sports departments on the fourth floor.

Mr. Ishii continued, "As a responsible corporate citizen, JUSCO actively participates in a number of environmental protection and social welfare activities. With the inauguration of the new Zhuhai store, we will donate books to two primary schools in the city. We will also present 80 large rubbish bins to the Zhuhai city government which has placed high value on environmental protection."

Mr. Ishii concluded, "The inauguration of the Zhuhai Store takes JUSCO closer to our goal to actively expand into China's market, and lays a cornerstone in the Group's development. In view of the PRC's tremendous development potential, the Group plans to operate 50 GMS in the PRC in the next 5 years. We believe the new Zhuhai store will duplicate the success of other stores in the region and bring satisfactory returns to the Group."

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For more information:
JUSCO Stores (Hong Kong) Co., Limited
Jenny Chan / Vivien Hong
2565 3600 Fax: 2104 0336
E-mail: pr@jusco.com.hk
Website: http://www.jusco.com.hk

Strategic Financial Relations Limited
Eveline Wan/ Carol Lau / Ines Chin
Tel: 2864 4822 / 4815 / 4867
Fax: 2804 2789
E-mail: eveline@strategic.com.hk