TBK Ted Baker

RNS Number:7431T
Ted Baker PLC
8 November 2000

                                                                              
                        ("Ted Baker" or "the Company")
                                       
                    Novation of US Master Licence Agreement

The  Board  of  Ted Baker is pleased to announce the novation  of  its  master
licence   agreement  with  EDL,  LLC  ("EDL")  to  the  Hartmarx   Corporation
("Hartmarx").

Under the master licence agreement signed in February 2000 EDL managed the Ted
Baker  menswear  wholesale operation in the United States and was  seeking  to
market other Ted Baker collections through sublicence agreements.

During  negotiations with Hartmarx as a potential sublicensee for a number  of
the  Ted  Baker collections, particularly the 'Endurance' suit collection,  it
emerged that Hartmarx would be managing, on behalf of EDL, the majority of the
North  American  operations covered by the Ted Baker master licence.  It  was,
therefore,  agreed that the interests of all parties would be best  served  by
the novation of the master licence to Hartmarx.

Under the novation the licence agreement has been extended by two years to  30
June  2005 ("the initial term") with renewal options for the licensee, subject
to  the  achievement of certain performance criteria. Ted Baker  will  receive
royalties  based on sales volumes, subject to minimum royalty  payments  which
total  $10.7  million over the initial term, compared with $6.0 million  under
the previous agreement. Ted Baker has paid EDL $1 million as consideration for
the  novation.  The  novation is not expected to have any  material  financial
impact in the current financial year. The licence agreement continues to cover
all  the  Ted  Baker collections and has been extended to include Central  and
South  America  in  addition to the United States  of  America  and  dependent
territories, Canada, Mexico and the Caribbean.

Hartmarx  is  a leading Chicago-based US corporation, listed on the  New  York
Stock  Exchange,  which operates in the quality businesswear,  casualwear  and
sportswear markets.

Hartmarx  sources  and markets products both under its own  brands,  including
Hart  Schaffner  &  Marx, Hickey-Freeman and Barrie  Pace  as  well  as  under
exclusive  licensing  agreements  in  certain  territories  for  a  number  of
prestigious  brands  including Burberry, Kenneth  Cole,  Tommy  Hilfiger,  Liz
Claibourne,  Austin  Reed  and  Perry Ellis. Hartmarx  supplies  a  number  of
distribution channels, from specialty and department stores to direct mail and
e-commerce.  Hartmarx reported sales of $727 million for  the  year  ended  30
November 1999 and employs 8,000 people worldwide.

Ray  Kelvin, the closest man to Ted, commented: "We are delighted to have this
opportunity to work with a leading brand manager such as Hartmarx which has an
impressive  reputation  for  professionalism and brand  integrity.  Hartmarx's
enthusiasm   to   assume   the  master  licence  underlines   the   tremendous
opportunities for Ted in the American continent."

Enquiries:
Ray Kelvin, Chief Executive
Lindsay Page, Finance Director
Tel: 020 7255 4800

Hudson Sandler
Piers Hooper
Noemie de Andia
Tel: 020 7796 4133

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