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LEVI STRAUSS ASSOCIATES INC. REPORTS RECORD SALES AND EARNINGS FOR 1992

 SAN FRANCISCO, March 1 /PRNewswire/ -- Citing continuing worldwide consumer demand for its denim products and strong U.S. demand for its casual wear goods, Levi Strauss Associates Inc. (LSAI), the privately held parent company of Levi Strauss & Co., today reported record 1992 sales of $5.6 billion. LSAI also announced record 1992 earnings of $360.8 million, despite a $158 million, pre-tax stock-option charge during the third quarter of 1992.
 The company's record 1992 net sales marks the first time any apparel company has exceeded $5 billion in annual sales. Net sales for 1992 represents a 14 percent increase for 1991 sales of $4.9 billion.
 Net income for the fiscal year ended Nov. 29, 1992, was one percent higher than the previous record of $356.7 million. Net income for the year would have been approximately $475.8 million, or an increase of 33 percent over 1991, if not for the impact of the stock option charge. Record dollar sales and unit sales, a lower effective tax rate and lower interest expense contributed to 1992 net income.
 The company also generated $853.0 million in operating income, 10 percent above the 1991 amount of $772.2 million.
 For the 1992 fourth quarter, LSAI reported net income of $134.3 million on net sales of $1.6 billion, 27 percent higher than 1991 fourth-quarter net income of $105.5 million on sales of $1.4 billion.
 The company said that fourth quarter operating income increased 10 percent to $229.0 million, compared with $208.4 million reported for the same period a year earlier.
 "Our results are particularly gratifying during a period of economic uncertainty in many of the markets that we serve worldwide," said George B. James, Levi Strauss & Co.'s chief financial officer.
 James said that an ongoing focus on basic jeans, jean-related products, and casual wear garments, including the DOCKERS(R) line of products, continue to fuel the company's financial success.
 "The holiday season indicated a bright start for our 1993 fiscal year. We continue to experience strong consumer demand for the company's jeans and casual wear products. However, looking forward, our assessment is one of cautious optimism."
 Total U.S. sales, propelled by record dollar sales in all of LSAI's U.S. marketing divisions, improved 16 percent to a record $3.5 billion over 1991. In the United States, LSAI's record unit sales increased 12 percent, compared to 1991.
 Dollar sales outside the United States accounted for 37 percent of the company's total dollar sales. Total dollar sales outside the United States during 1992 were $2.1 billion or 10 percent above 1991. Unit sales outside the United States for 1992 were up one percent compared to 1991.
 Record dollar sales and earnings outside the United States during 1992 were attributable to record performances in the European and Asia Pacific divisions. Businesses outside the United States represent 53 percent of the company's 1992 profit contributions before corporate expenses and taxes. Overall, the increases in dollar sales and earnings were due to continued strong demand for the company's products in most markets despite generally weak economic conditions.
 Levi Strauss & Co. is the world's largest apparel manufacturer. The company designs, manufactures and markets apparel for men, women and children, including jeans, pants, shirts, jackets and skirts. It employs approximately 34,000 people worldwide.
 LEVI STRAUSS ASSOCIATES INC.
 Financial Summary (in thousands)
 '92 Year-end '91 Year-end Percentage
 (Ending Nov. 29) (Ending Nov. 24) Change
 Net sales $5,570,290 $4,902,882 14
 Operating
 Income $ 852,956 $ 772,227 10
 Net Income $ 360,837 $ 356,666 1
 4th Quarter 4th Quarter Percentage
 1992 1991 Change
 Net Sales $1,561,675 $1,359,027 15
 Operating
 Income $ 229,017 $ 208,381 10
 Net Income $ 134,349 $ 105,537 27
 -0- 3/1/93
 /CONTACT: Katherine Tanelian of Levi Strauss, 415-544-6285/


CO: Levi Strauss Associates Inc.; Levi Strauss & Co. ST: California IN: TEX SU:

TM-TB -- SF006 -- 1433 03/01/93 12:55 EST
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Date:Mar 1, 1993
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