CO. Coats

    12th September 2002

                     Coats plc To Sell Jaeger And Viyella                      

Coats plc announces it is to sell its Fashion Retail Division (FRD) comprising
the Jaeger and Viyella clothing brands. In line with Group strategy, the sale
will largely conclude the refocusing of Coats exclusively on its core Thread
businesses. HSBC Investment Bank plc has been appointed to conduct the sale of
FRD.

Jaeger is an international men's and women's retail brand focusing on elegant
modern clothing in a classical style. Viyella offers classic and versatile
women's clothing with an emphasis on excellent quality and service. Both labels
enjoy strong brand loyalty, and in Jaeger's case global brand recognition. The
assets include a portfolio of high street stores and concessions with national
coverage. Jaeger also has a retail presence in several European capitals and
North America.

In addition to the Jaeger and Viyella clothing brands and associated retail
chains, FRD contains the store cards business, with a customer database, and
various licence agreements.

Martin Flower, Chief Executive, Coats plc, said:

"To continue to add value for our shareholders, Coats must focus exclusively on
Thread, the core area of expertise in which we are the global market leader.
Jaeger and Viyella have bright futures, but their potential is most likely to
be realised by an owner with the skills and resources found in the UK fashion
retail market place."

Enquiries:

Jonathan Lea, Finance Director     Coats plc                  020 8210 5000
                                                                           
Patrick Handley / Katya Reynier    Brunswick Group            020 7404 5959
                                                                           
Aidan Wallis, Managing Director/   HSBC                       020 7336 9000
                                                                           
Rory Wade, Associate Director                                              

Notes to Editors:

Jaeger retails through 52 own stores, 94 concessions and 17 clearance outlets,
predominantly in the UK and with a limited continental European presence. In
North America, the brand trades through branch and shop-in-shop operations, and
in the rest of the world through licensing franchising and wholesaling
operations.

Viyella retails through 35 own stores, 136 concessions and 13 clearance outlets
in the UK.



END

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