DFS Group Promotes Two Senior Executives; Julian Levy To Succeed James Hurley as President, North America; Mark Daley to Succeed Mr. Levy as President, Oceania.

Business Editors

SAN FRANCISCO--(BSUINESS WIRE)--April 27, 2000

DFS Group Limited, the world's leading retailer to the international traveler, today announced that Julian Levy has been named President, North America Region, and that Mark Daley has been named to succeed Mr. Levy as President, Oceania Region.

Mr. Levy, 38, joined DFS in 1988 as Vice President, Operations for DFS United Kingdom. In 1991 he was appointed Vice President, Operations for the Australia Region before being promoted to Vice President, Business Development & Operations in 1995. In 1997 Mr. Levy was promoted to his current position as President, Oceania Region, with responsibility for both Australia and New Zealand.

In his new capacity, Mr. Levy will oversee DFS Group's growing operations in North America, which include major airport concessions and/or downtown DFS Galleria stores in San Francisco, Los Angeles, Las Vegas, and New York. He also will be responsible for coordinating activities between DFS and Miami Cruiselines Inc., which was recently acquired by DFS Group's majority owner, LVMH Moet Hennessy Louis Vuitton.

Mr. Levy succeeds Jim Hurley, President, DFS North America Region and Pacific Retail Development, who recently announced his intention to retire from DFS at the end of 2000. Mr. Hurley, 53, joined DFS Hong Kong in 1987 as Vice President, Preferred Products Limited. He was promoted to Vice President, General Merchandise Manager later that year and became Vice President, Retail Operations in 1988. Mr. Hurley was appointed President, DFS Hong Kong Region in 1995 and in 1997 was named President, DFS Asia Group, which included Hong Kong, Taiwan, Singapore, Korea and other Asia-based locations. He was appointed to his current role in 1999.

Mr. Daley, 36, began his retail career in 1986 as Assistant Buyer, DFS Alaska. He was promoted to Buyer in 1988 and in 1991 transferred to DFS Hong Kong. In 1991 he was named Merchandise Manager for DFS Merchandising in San Francisco and was promoted to Vice President, Merchandise Manager in 1992. He was appointed Divisional Merchandise Manager for DFS Guam in 1995 and served as Vice President, General Merchandise Manager and Marketing for DFS Oceania from 1997-1998. Mr. Daley was named to his current role as Vice President, General Merchandise Manager, Hawaii in 1999.

"Jim Hurley has been a valued and dedicated member of DFS Group's senior management for more than a decade, and we will miss his business acumen and strong commitment to teamwork," said Edward Brennan, President and Chief Executive Officer of DFS Group. "Fortunately, by giving us advance notice of his plans, Jim has graciously allowed us to prepare for an orderly transition. I am confident Julian Levy will provide strong leadership to the North America team as we continue to grow the region and work closely with our new sister organization, Miami Cruiselines. I am also pleased to recognize Mark Daley's growth within DFS and am confident that his unique experience and business knowledge will provide strong leadership to the Oceania team as they build on their many successes."

Based in San Francisco, DFS Group Limited is majority-owned by Paris-based LVMH Moet Hennessy Louis Vuitton, the world's leading luxury products group. A part of LVMH's Selective Distribution Group, DFS operates more than 150 duty-free and general merchandise stores throughout Asia, the Pacific Rim, and the West Coast of North America.