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AMWAY JAPAN REALIGNS INVESTMENT IN ASIA PACIFIC REGION

 /NOTE TO EDITORS: The following was released earlier today in Tokyo/
 TOKYO, Nov. 9 /PRNewswire/ -- Amway Japan Limited (OTC: AWJNY) today announced its decision to sell its wholly owned subsidiary, Amway Pacific Limited, to Amway Asia Pacific Limited. Amway Pacific holds the distribution rights to the Amway business in the People's Republic of China. Amway Asia Pacific is the exclusive distribution vehicle for Amway Corporation in Australia, Hong Kong, Macao, Malaysia, New Zealand, Taiwan and Thailand.
 This restructuring of the Amway business in Asia is a strategic decision based on the recognition that significant sponsoring and support of distributors in China will be provided by distributors in Hong Kong and Taiwan.
 In return for the sale of Amway Pacific, Amway Japan will receive common stock of Amway Asia Pacific. This transaction, with a value of about US$17.5 million (1.9 billion yen), provides Amway Japan with a full return on its investment in Amway Pacific, as well as with the dividend stream and diversified growth opportunity represented by Amway Asia Pacific.
 The sale of Amway Pacific is contingent upon the successful completion of the initial public offering of Amway Asia Pacific, which has recently filed a registration statement with the United States Securities and Exchange Commission and applied for listings on the New York Stock Exchange and the Australian Stock Exchange.
 Amway Japan Limited, established in 1977, is a direct-selling company that distributes household products through a network of more than one million independent distributors in Japan. Market capitalization is approximately $5 billion. The company established a sponsored American Depositary Receipt program with the Bank of New York in February 1993. One ADR represents one ordinary share. Amway Japan is registered on the Tokyo over-the-counter market (securities code: 9821).
 -0- 11/9/93
 /CONTACT: Kazuhisa Matsuyama (Japan) of Amway Japan Public Relations Dept., 011-813-5434-8477; or Cameron King (New York) of Gavin Anderson & Company, 212-921-1060/
 (AWJNY)


CO: Amway Japan Limited ST: IN: SU:

GK -- NY012 -- 2003 11/09/93 06:16 EST
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Publication:PR Newswire
Date:Nov 9, 1993
Words:333
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