La Senza PLC Joins the Alternative Investment Market in the United Kingdom

Business Wire, May 1, 1996

DORVAL, Quebec--(BUSINESS WIRE)--May 1, 1996--SUZY SHIER LIMITED (ME, TSE:SZS) Suzy Shier Limited's subsidiary, La Senza Plc, the specialist lingerie and sleepwear retailer, is joining the Alternative Investment Market (AIM) of The London Stock Exchange in the United Kingdom, through a Placing (underwriting) which values the company at approximately $102,500,000 (Canadian $).

The Placing of 13,333,333 new Ordinary Shares by Williams de Broe Plc, Brokers and Advisors to the Company, at a price of approximately $3.06 (Canadian $) per share, represents 39.8 percent of the share capital and raises approximately $40,795,000 (Canadian $) for the Company before expenses related to the issue. First dealings in the shares are anticipated on Wednesday, May 8th, 1996.

La Senza currently operates a chain of 22 distinctive lingerie shops mainly in prime locations in England, Scotland and Whales. It specializes in the sale of a wide range of exclusive, own- brand women's and men's underwear and sleepwear together with a comprehensive selection of related accessories.

The principal reason for the Initial Public Offering (IPO) is to enable La Senza Plc to pursue its dynamic strategy to open 152 additional shops over the next five years bringing the total to 174. The Company intends to capture a significant share of the UK women's retail sleepwear and underwear market (excluding hosiery) with its shops which will be located in cities and towns near other major national specialty retailers.

Suzy Shier Limited retains a 60.2 percent controlling equity in La Senza Plc which will continue to be consolidated in the financial statements of Suzy Shier Limited.

Suzy Shier Limited, headquartered in Montreal, is a specialty retailer of moderately priced fashionable apparel for women, sold in its 261 "Suzy Shier" and "L.A. Express" stores, and fashionable lingerie and sleepwear sold in its 118 "La Senza" stores in Canada and 22 "La Senza" shops in the UK. Stores are located in every province of Canada, except Prince Edward Island, and in the United kingdom.

CONTACT: Suzy Shier Limited

Gerald Randolph, c.a., 514/421-8703