Hong Kong – February 23rd, 2005

Giordano International has long held the conviction that operating with the highest standards of corporate governance enhances shareholder value. As such, we have bench-marked ourselves against leading companies worldwide with a view to adopting their best practices where appropriate. With this in mind, the Board of Directors has adopted at the Chairman and CEO's initiation a new "whistle-blowing" mechanism to encourage and facilitate our staff in helping to police the conduct of top management, including that of the office of the Chairman and CEO.

In this connection, the company has set up a confidential e-mail account to allow staff to report suspected acts of fraud or gross misconduct anonymously. All such reports would be investigated by the Head of Internal Audit and referred to the company's independent directors for further action should sufficient grounds exist for such referral. All such reports would be treated with the strictest confidence and the "whistle-blower" would remain anonymous. The mechanism is designed to encourage and facilitate our staff in reporting any suspected acts of fraud or gross misconduct freely without fear of reprisal.

The Board believes that this "whistle-blowing" mechanism is the first of its kind in Hong Kong. Although originally designed to ensure the honesty and integrity of the office of the Chairman and CEO and other members of top management, this mechanism can also be used to report suspected acts of fraud or gross misconduct by other officers of the company.

Giordano International Limited is a leading international retailer of men's, women's and children's apparel under the brand names "Giordano", "Giordano Ladies", "Giordano Junior" and "Bluestar". Established in 1981, Giordano International now operates over 1,500 stores and counters in 26 markets in Asia, Australia and the Middle East.

For more information, please contact:
William Yue
Tel: +852 2746 4727
E-mail: williamyue@giordano.com.hk