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17 August 2005

Bossini Pioneers as the First Apparel Retailer to Accept Octopus Payment

Speedy Payment Service for Customers


[17 August 2005 - Hong Kong] - Bossini Enterprises Limited ("bossini") announced today its collaboration with Octopus Cards Limited ("Octopus") in being the first apparel retailer in Hong Kong to accept the Octopus payment service. Effective from 25 August 2005, consumers can pay with Octopus at any of bossini's shop in Hong Kong*. This new initiative offers consumers a new shopping experience that is fast and convenient.

To celebrate the grand occasion, bossini and Octopus jointly organised an inauguration ceremony for launching Octopus payment service at bossini's flagship store in Causeway Bay, Hong Kong. Ms. Linda Tam, Sales and Marketing Director of bossini, said at the inauguration ceremony, "bossini and Octopus form a perfect match. With rapid business expansion in recent years, bossini's customer flow continued to increase. We endeavor to introduce a convenient and user-friendly payment system to further improve our services. Our customer profile matches seamlessly with the user profile of Octopus card, both of which are for people from all walks of lives at different ages. This fulfills our needs for a good payment system. We are pleased to become the first apparel retailer to introduce the Octopus system."

bossini offers a wide range of comfortable apparel, including ladies', men's and kids' wear specially designed for different age groups. Currently, approximately 60% of customers of bossini choose cash payment. Using Octopus will significantly shorten the transaction time. Not only does it provide convenience to bossini's customers, but also enhance store operation efficiency. Staff members are enabled to handle more transactions, bringing operational advantages to the Company.

*except the licensee store in Tsuen Wan Citistore

Mrs. Cindy Cheng, Sales & Marketing Director of Octopus, said, "We are excited to partner with bossini to introduce the convenience of Octopus to the apparel sector, which marks a milestone in our business development. Currently, there are approximately 12.4 million Octopus cards in circulation in Hong Kong, with 95% of people aged 16-65 holding an Octopus card. Octopus is worldwide renowned for its high penetration with a promising card base. Through our collaboration with bossini, we endeavor to offer a pleasant shopping experience to customers, in an ultra-convenient and fast way without the hassle of dealing with loose change."

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About Bossini Enterprises Limited

Bossini Enterprises Limited ("Bossini") and its subsidiaries is a leading apparel brand owner, retailer, and franchisor in the region. Headquartered in Hong Kong, Bossini rapidly established an extensive international operating platform and distribution network. Currently, it has a total of 827 outlets spanning over 20 countries worldwide, with 409 directly managed outlets located in its four core markets, namely Hong Kong, Mainland China, Taiwan and Singapore. The number of retail outlets in Hong Kong and Macau alone amounted to 32 stores.

Renowned for its comfortable, easy to mix-and-match, colorful and energetic style, Bossini offers a full range of good value-for-money casual wear products, including ladies', men's and kids' wear, designed to fit customer needs. Bossini endeavors to develop the spirit of a "corporate citizen" and to share its achievement and resources with people who are in need. While providing care and support and building a harmonious community, Bossini fully embraced and realized the corporate philosophy of "Color Our World". In 2005, Bossini was accredited "Caring Company Award" by The Hong Kong Council of Social Service, recognizing Bossini's contribution to society.

About Octopus Cards Limited

Launched in 1997, Octopus is the world's leading and most extensive smartcard payment system, with over 300 service providers across different businesses in Hong Kong, including public transport, parking, retail, vending and kiosks, schools, leisure facilities and access control for residential and commercial buildings. Both merchants and cardholders embrace Octopus for its simplicity and convenience. Today, over 12.4 million Octopus cards are in circulation and the system handles over 9 million transactions a day, with transactions value exceeding HK$66 million. With its unique experience and proven technology, Octopus is also active in the international arena in providing contactless smartcard solutions. It is Octopus' aspirations to replicate the successful experience in Hong Kong to other parts of the world, to make life easier for people everywhere.

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