Ready To Wear For Men And Womens

S.Kumars Nationwide Limited

Management Presentation

September 2008

Clothiers to the Nation Today …the World Tomorrow

2

Name Experience

Nitin Kasliwal

Vice Chairman and MD

Over 30 years of experience in textile industry

Chairman of Madhya Pradesh Textile Mills Association

Member of managing committee of Indian Cotton Mills Federation, Indian Woolen Mills Federation, World Trade Centre, India

MBA in International Management from Switzerland

Anil Channa

Dy. Managing Director & COO

Over 35 years of very senior level textile industry management experience

Over 20 years as business head of large textile operations

MBA from Delhi University, FMS and Engineer from IIT Delhi

Anees Fazalbhoy

Business Strategy, M&A and Investor Relations

Managed own business with activities in India, Canada & Middle East for over 25 years

MBA in International Management from Switzerland

J agadeesh Shetty

CFO

Over 20 years of senior level experience in finance and accounts primarily in textile industry

Member of the Institute of Chartered Accountants of India

Team Introduction


3

SKNL Group Highlights


4


4 Pillars– Brands, Professional Management, Distribution, Manufacturing2

Transaction Update3

Brandhouse Retail – SKNL Group’s Initiative7

Future Growth – Building Scale Organically and Inorganically4

Strong Financials5

India – A Large Growing Market Opportunity6

Reid & Taylor – SKNL Group Initiative8

SKNL Overview1


SKNL Group Structure

5Clothiers to the Nation Today…the World Tomorrow

SKNL Group Structure

SKNL Group

Reid & Taylor (India) Limited

Brandhouse Retail Limited

SKNL

Consumer Textiles

EBULuxury Textiles

J V ValueHVFC GarmentsHome

Textiles

Total Wardrobe Solutions

Future SBUs


6

Company Overview – Strength through Diversity

Market Cap: Sales US$413.9mmPBIDT US$95.0mm

Luxury Textiles Consumer Textiles HVFC Home Textiles (THE) Ready to Wear (TWS)

Sales: US$95.3mmPBIDT: US$38.2mmPBIDT Margin: 40.0%ContributionSales: 23%


Under implementation



2007–2008

Reid & TaylorLuxury Suitings

Reid & TaylorPremium NaturalFiber Suitings

S.KumarsWork Wear

BelmonteDaily Wear

MichaelangeloPremium Wear

Uniformity Uniform fabrics

100% Natural Fiber Shirtings

Benetton*Super Premium

Carmichael HousePremium

New Brand**Mid-Premium

*Being launched shortly**To be launched

Stephens BrothersSuper Premium

Balmoral* Premium Reid & Taylor

Ready to wear Premium

BelmonteMid-Premium

*Being launched by end of 2008

The only company in India to operate across all 3 segments of the industry– Fabrics - Apparels - Home Textiles

Branded presence in all socio-economic segments Operates in all fibre segments


7

Presence in all Socio-Economic Segments

MID PRICECarmichael House

LUXURYInternational brand (On the anvil)

PREMIUM PLUSStephens Brothers

ECONOMY(To be launched)

LUXURY(To be launched)

PREMIUMReid & Taylor

MID PRICE Belmonte

MID PRICEWorld PlayerBelmonte

ECONOMYS.Kumars

PREMIUMReid & Taylor

READY TO WEAR

FABRIC

Present across all categories and in all socio-economic segments

HOME TEXTILES

Not Catered to by SKNLNot Catered to by SKNL Un-brandedUn-branded

Un-brandedNot Catered to by SKNL

ECONOMY(To be launched)


8

… & has become a Clothier to the Nation


9



Transaction Update3



Strong Financials5



SKNL Overview1


10

Well Established Brands

Brand Products Achievements

- Worsted fabrics- Ready-to-wear

#2 in Luxury Suitings(18% share)

- Blended fabrics- Workwear- Ready-to-wear- School Uniform

Market leader in uniforms (30% share)

- Bed Linen & Bath Linen- Table & Kitchen Linen

Pioneering Total Home Expressions in India

- Ready-to-wear for men and womens

Reinventing a brand with British heritage for India

Diversified portfolio of well recognised brands Strength through Celebrity endorsements Pan India advertising campaign using different media in different languages


11

Strong Brand Visibility

• Contemporary in Design and customer friendly Stores


12

Professional Management

Anil ChannaDy. Managing Director & COO

STRATEGIC BUSINESS UNITS (SBUs)

Board of Directors

Nitin Kasliwal Managing Director & CEO

TOTAL HOME

EXPRESSIONS

Dinesh Sharma

CEO

CONSUMER TEXTILES

Col. S. K. Raje

Group Admin & HRD

READY-TO-WEAR (TWS)

Janak Dave

COO

HIGH VALUE FINE COTTONS

Martin Haemmerle

CEO

Anupam Dikshit

COO

LUXURY SUITINGS

Arvind Gupta

COO

Vijay Bakshi

President

INTERNATIONAL

BUSINESS

D.D. AvariCorp. Affairs

J. S.ShettyCFO

Anees FazalbhoyBusiness Strategy

CORPORATE FUNCTIONS

Nimesh ShahCompany Secretary

Shrikant HazareHead - Marcom

Rajan K. Garg

COO

Each SBU headed by a segment specialist


13

Distribution Strategy

Multi Brand Outlets

66%

Large Format Stores

6%

Institutional Sales

15%

Export Sales

3%

Exclusive Brand

Outlets

Franchisee Model

Company Operated

Master Franchisee for SKNL Brands

India Franchisee for International Brands

Company owned stores for SKNL Brands

BRANDHOUSE RETAILS LTD.

60Agents

400 Wholesale

dealers

30,000

Retailers

10%

Luxury Textiles Consumer Textiles HVFC Home Textiles (THE) Ready to Wear (TWS) Reid & Taylor

Luxury Suitings Reid & Taylor

Premium NaturalFiber Suitings

S.KumarsWork Wear

BelmonteDaily Wear

MichaelangeloPremium Wear

Uniformity Uniform fabrics

100% Natural Fiber Shirtings

Benetton*Super Premium

Carmichael HousePremium

New Brand**Mid-Premium

Stephens BrothersSuper Premium

Balmoral Premium Reid & Taylor

Ready to wear Premium

BelmonteMid-Premium


14

State of the Art Manufacturing Facilities5 state-of-the-art plants manufacturing products to the highest quality standards

Plant Products Manufactured

Reid & Taylor Worsted Suiting Unit, Mysore

Worsted Suiting

S.Kumars & Belmonte Fabric Unit, Dewas

Fabrics (Polyester & Polyester Viscose)

Home Textile and Medium Value Cotton Mills (Chamunda Standard)

Dewas

Polyester Blended Yarn, Grey Fabrics (PV, PC, 100% Cotton),

Medium Value Cotton

Home Textiles Unit, Dewas Damask Fabric

Garments Unit, Bangalore Shirts, Trousers, Blazers & Suits

New Facilities under Construction in Gujarat

Home Textiles and High Value Cotton Shirting


15



Transaction Update3



Strong Financials5



SKNL Overview1


GIC investment in R&T

16

GIC values R&T at US$840mm post money

GIC invests US$211mm in the form of shares and warrants for 25.4% stake

Post transaction, SKNL owns 74.6% in R&T

Pure Equity transaction with no conditions attached


17

GIC investment in Reid & Taylor

Structure Key Transaction Details

Pre Transaction 100% subsidiary

Transfer of assets at book value as a going concern with effect from January 1, 2008

Working capital facilities of US$25mm apportioned to R&T

Debts amounting to US$62.5mm relative to transferred assets moved to R&T for settlement

Post Transaction GIC values R&T at US$840mm post money

GIC invests US$211mm in the form of shares and warrants for 25.4% stake

Post transaction, SKNL owns 74.6% in R&T

SKNL

R&T

Reid & Taylor fabric & garments

business spun-off as 100% subsidiary

Transfer of Assets/ Liabilities

GIC

Funds to repay lenders

US$ 210 mm 25.4%

Post transaction, SKNL & Reid & Taylor retire over $ 170 Mn debt

Company emerges stronger financially and has greater operating flexibility

GIC US$211mmLoan to SKNL to repay debtUS$110mmCapacity Expansion US$37.5mmPayment of debt in R&T US$62.5mm

Total US$211mm Total US$211mm

Source of Funds Use of Funds


18



Transaction Update3



Strong Financials5



SKNL Overview1


19

Growth Initiatives - Organic

Segment Initiative

Luxury Textiles

Capacity expansion from 8.4mm meters to 13.2mm meters by FY10 to cater to expanding domestic and international markets

Consumer Textiles

Creating value addition in existing business by introducing premium blended suiting and adding capacities for weaving and processing of high value fabrics

Ready-to-Wear (TWS)

Adding manufacturing facilities to complement distribution as well as adding new brands

Home Textiles (THE)

Capacity expansion , modernization and technology upgradation to cater to high demand in the post quota regime

High Value Fine Cottons (HVFC)

Setting up capacity to cater to the high margin, high growth segment in the international as well as domestic markets

Segment US$mm

Luxury Textiles 37.7

Consumer Textiles 37.7

Total Wardrobe solutions 16.6

Home Textiles 52.5

HVFC Project 58.8

Total 203.1

Total Investment in Growth Initiatives

Growth Initiatives Across Different Segments

Two new SBU’s are being added – Technical Textiles and Uniserve


20

Luxury Textiles

Sales

Investment PlanEBITDA Margins

Growth Strategy

Domestic: – Expanding market reach by using lower price range

and introducing V Fabrics– Increase retail reach by opening exclusive stores

and shop-in-shop programs International

– Increasing export thrust in North America, Japan, West Asia, Europe and Middle East

– Leverage global strength of R&T to access leading brand and latest technology

Capacity expansion from 8.4mm meters and to 13.2mm meters by FY10 to cater to expanding domestic and international markets

Expansion from 8.4mm to 13.2mm meters by FY10

Total investment is projected to be US$37.7mm40.6%40.0%39.0%

33.2%

30%

35%

40%

FY06A FY07A FY08A FY09E

5666

95

128

-20406080

100120140


US$

mm


21

Total Wardrobe Solutions

Sales Growth Strategy

Domestic– Expanding Reid & Taylor garments to multi brand

outlets– Rejuvenating Tamarind through effective supply

chain & distribution– Introducing International Labels in Luxury & Super

Premium segments– Introducing Balmoral– Introducing Premium Casual Brand– Introducing Reid & Taylor Range for Women

Exports– Catering to growing demand from Reid & Taylor

Scotland customers– Export own brands to Middle East & South East Asia– New manufacturing contracts with international

brands

EBITDA margins

Adding manufacturing facilities to complement distribution as well as adding new brands

Investment Plan

Investment – US$mmTotal

16.6

7.5%

18.6%20.7%

16.2%

0%5%

10%15%20%25%


5

2839

85

-

20

40

60

80


US$

mm

ECONOMY S.Kumars and World Player

MID PREMIUMBelmont

PREMIUMReid & Taylor; Balmoral (To be launched)

SUPER PREMIUMStephens Brothers

LUXURY(To be launched)


22

Consumer Textiles

Sales Growth

Increasing operating margins due to

Orientation towards Institutional, Medallion, Uniserve and Retail market segments

Considerable shift in the industry towards branded fabrics

Shift in product mix in favour of high margin P/V designer suitings and launch of Belmont brand

Improving Customer Serviceability by enhancing in-house finishing capacity

Upgradation of weaving capacity to cater for more innovative product.

EBITDA margins

Creating value addition in existing business by introducing premium blended suiting and adding capacities for weaving and processing of high value fabrics

Growth Strategy

Investment Plan

Total Investment US$mmTotal

37.7

11.8%

17.7%16.8%

14.8%

10%

12%

13%

15%

16%

18%


139 150

211

304

100

150

200

250

300


US$

mm


23

Home Textiles

Sales Growth Investment Plan

EBITDA Margins Growth Initiatives

Expanding capacities to 28mm meters

Increasing sales due to :– Exploring new markets (Domestic & Exports)– Launch of new brands catering to

– Higher disposable incomes – Growing consumerism

– Introducing special finish fabrics– Diversifying product mix to “Top of Bed” decorative

items

Capacity expansion, modernization and technology upgradation to cater to high demand in the post quota regime

Total Investment US$mmTotal

52.5

5.3%

13.1%

21.6%19.5%

3%

8%

13%

18%

23%


11

47

68

90

-

20

40

60

80

100


US$

mm


24

High Value Cotton Fabric

Sales Growth Investment Plan

Growth Strategy

Setting up weaving & processing facilities of 12.75mm meters

Domestic– Fabricators making shirts for international brands– Indian brands offering premium shirts to Indian

customers International

– Global market for HVFC shirting approx 550 – 600mm meters– Primarily European manufacturers

– SKNL to offer quality & cost benefits – European Know-how & expertise– Indian manufacturing advantage

– Access to global customers through– Reid & Taylor, Scotland & International labels

coming to India through SKNL

Set to enter High Value Cotton Fabrics to cater to large, high margin, high growth segment in the International as well as domestic markets

Total Investment – US$ mm Total

58.8

EBITDA Margin

36

58

-

15

30

45

60

75

FY08A FY09E FY10E

US$

mm

36.7%37.7%

35%

37%

38%

40%

FY09E FY10E


25

Growth Summary

Sales Growth Drivers

Projected CAGR FY07-FY09E

Reid & Taylor Scotland helps SKNL to access its clients - leading international brands

Strategic initiatives, modernization and capacity expansion to help capitalize on favorable international environment

Building Infrastructure to tap export opportunities in international markets

Leveraging strong brand equity

Focus on domestic high growth retail sector

Launching new Garment brands to increase market share

Introducing new product lines

Diversifying into Technical Textiles

Moving up the value chain to improve margins– Launching (HVFC) Shirting

139 150 211304

128

85

956656

3928

5

68

90

4711

36

-

100

200

300

400

500

600

700


US$

mm

Consumer Textiles Luxury Textiles TWS

Home Textiles HVFC

211292

414

642

48%

62%

49%

0%

15%

30%

45%

60%

75%

Sales PBIDT EPS


26

Growth Initiatives - Inorganic

Target Business

Segment

Target Overview

Synergy benefits

Target 1

HVFC

To Identify and acquire a leading shirt fabric manufacturer in the premium segment supplying to leading shirt brands

SKNL gets access to leading international Brands,

addressing the premium market

Through supplying HVFC requirement for the target

Move up the value chain therefore access to better brands leading to better realisations resulting in higher margins

Potential Overseas Acquisitions

Though we got Shareholders approval to invest up to USD 500 Million for overseas acquisition, But we plan to invest USD 75 Million, as of now. This money will be

raised through internal accruals


27

Sales: US$127.8mm

PBIDT: US$51.8mm

PBIDT margin: 40.6%

Sales: US$303.7mm

PBIDT: US$53.8mm

PBIDT margin: 17.7%

Sales: US$89.7mm

PBIDT: US$19.4mm

PBIDT margin: 21.6%

Sales: US$84.7mm

PBIDT: US$ 15.8mm

PBIDT margin: 18.6%

Sales: US$36.1mm

PBIDT: US$13.3mm

PBIDT margin: 36.7%

SKNL in FY09

Consumer Textiles Home Textiles

S.Kumars

Belmonte

Michelangelo

Uniformity

Luxury Textiles

Reid & Taylor Worsted Suitings

Reid & Taylor Premium Natural Fiber Suitings

Sales US$641.9mmPBIDT US$154.1mm

Ready-to-wear

Shirting Benetton

Carmichael House

Mid-Premium Brand

Contribution to Sales

19.9%

HVFC

Stephens Brothers

Reid & Taylor

Balmoral

Belmonte

S.Kumars

World Player


47.3%

Contribution to Sales 5.6%


14.0%


13.2%


28



Transaction Update3



Strong Financials5



SKNL Overview1


29

On a High Growth path

Revenues EBITDA

Net Income* Gross COGS/Revenue

211292

414

642

-

100

200

300

400

500

600

700


US$

mm

CAGR: 44.9%

35.9

58.9

95.0

154.1

-

25

50

75

100

125

150

175


US$

mm

CAGR: 62.6%

74.4%68.5% 67.1% 63.9%

0%

20%

40%

60%

80%

100%


20.725.3

48.4

74.7

-

15

30

45

60

75


US$

mm

CAGR: 53.3%

* Tax is not deferred tax


30

Increasing Profitability

Profitability ROCE

EPS (Before Extraordinary Items) Debt - Equity Ratio

0.07

0.13

0.20

0.29

0.00

0.05

0.10

0.15

0.20

0.25

0.30


US$

/Sha

re

18.8%16.8%12.3%

9.0%

0%

5%

10%

15%

20%

25%


497

122

180 210160 225

0.2

1.891.73

0.69

0.91.1

-

100

200

300

400

500

FY07A FY08A FY09E

-

0.5

1.0

1.5

2.0

Long term Debt Shareholder's Fund

DER TOL/ TONW

24.0%23.0%20.2%

17.0%

9.8% 8.7%11.7%

12.8%

5%

10%

15%

20%

25%

30%

FY06A FY07A FY08A FY09EPBIDT Margins Net Margins


31

Shareholding Pattern

Promoters & Group

Companies, 48.00%

Foreign Institutional Investors, 40.00%

Indian Institutions,

Banks, Mutual Funds & Retail,

12.00%

Promoters acquired additional 10 mn shares through creeping acquisition (average price Rs 115 per share) – March 08


32



Transaction Update3



Strong Financials5



SKNL Overview1


33

India—A Growing Market

Purchasing Power Explosion

Source: KPMG

Favorable Demographic

Source: Equity Research

Indian Consumption Pattern

Source: McKinsey Global Institute

Growing Middle Class

Source: McKinsey, NCAER

Note: Figures are rounded to the nearest integer and may not add up exactly to column totals

Working Age Population as % of Total Population (Age 15–60)

A Growing middle class whose size exceeds the population of the USA or the European Union

Income class(US$' 000)

1996HHs (Pop)

2002HHs (Pop)

2009(E)HHs (Pop) CAGR

>11.8 1.2 (7) 2.6 (15) 7.0 (40) 15%

7.1-11.8 32.5 (185) 46.4 (265) 91 (425) 10%

2.4-7.1 54.1 (312.2) 74.4 (429) 85 (490) 2%

<2.4 77 (444.3) 57.2 (332) 36 (177) -8%

Globals (>23.5)

Aggregate Consumption Across Income BracketsUS$ bn , 2000

Household Income BracketsUS$ ‘000, 2000

Strivers (11.8–23.5)

Seekers (4.7–11.8)

Aspirers (2.1–4.7)Deprived (<2.1)

MiddleClass

505560657075

2000 2005 2010 2015 2020 2025 2030

(%)

India Brazil China Russia G6

118 118 94 7171 212 282 282

47

28261271

376

94

329

47-24 -24

2424

1985 1995 2005E 2015F 2025F

141 212

400

800

1,647

Individuals in Urban India with an MHI of US$235+

6

15

19

1113

0

5

10

15

20

1997 2000 2001 2002 2003

CAGR: 21.2%


34

Domestic Growth Potential

Fabric78%

Apparel22%

Indian Clothing Market

Segmentation

The overall market can be divided into 3 segments– Fabric (the largest seller): is retailed over the counter as:

– Custom tailoring is very inexpensive– Garment industry is yet to reach maturity levels

– Garments: Growth due to :– Growth in organized retailing (spreading beyond

Metros)– Enhanced propensity towards fashion (international

exposure)– Home Textiles –the next big growth area in India

– Rapid growth in disposable incomes –indulgence at home

– Increased exposure –enhanced home décor etiquette– Few players in the organized segment –opportunity for

growth

Source: KPMG

Industry Characteristics

One of India’s most important sectors accounting for 4% of the country’s GDP

15-20% revenue growth overall for the textile industry

Branded apparel is the fastest growing segment domestically at 20% p.a., due to the growth in the modern retailing format

Worsted fabrics is currently a US$550mm market growing at 20-25%

Ready to wear market of US$2bn growing at 20% p.a.

Retail market for clothing, textile and fashion accessories has total size US$28.5bn of which the organized sector accounts for US$5.5bn (19%)

Market Size: US$23.5bn

1821

9

46

2.84

Global

Average: 6.8

0

5

10

15

20

25

Developed

countries

USA J apan Developing

countries

China Pakistan India


35

International Market

International Market Overview International Market Growth Opportunities

Quota restrictions & tariff barriers phased out

Significant production capacity shift to India due to

– High quality manpower, raw material and lower costs

– Inherent strengths in textile production

India, second largest producer of apparel and textiles after China

– Only country with ability to compete with China in the textile and apparel industry (USITC report)

Major initiatives by Government of India (recognized as a high-growth area)

– De-reservation of substantial portion of the industry

– Fiscal reforms in the synthetic textiles business underway

– Increase in investment ceilings

– FDI freely allowed in the sector

– Technology Upgradation Fund

India has a low contribution to a huge international market in the post-quota regime

Developed markets looking at India as the alternative to China for textiles & apparel imports

ROW75%

China22%

India3%


36



Transaction Update3



Strong Financials5



SKNL Overview1


37

Brandhouse Retail Limited - Overview

History

Launched as subsidiary of SKNL in 2006

Demerged in to a separate company in 2008

To be listed by Aug 2008

Vision and

Mission

Provide a distinct competitive edge to the brands by creating an International Retail Experience for addressing the booming Indian consumerism

Company Activities

Involved in setting up and managing Mono Brand outlets for multiple brands across India with a special focus on fashion and lifestyle

Current Brand

Portfolio

International luxury brands (Dunhill, Escada)

International super-premium brand (Stephens Brothers)

Indian Brands (Reid & Taylor, Carmichael House, Belmonte)


38

Brandhouse Retail – Organizational Chart

Tarun Joshi Managing Director & CEO

CFOCOO

OperationsCOO

Business Development

VP Scouting (Real Estate)

VP Projects (Store

Implementation)

VP Operations

VP Luxury

GM HR

GM Accounts

Company Secretary

& Legal

GM IT

GM Commercial

VP Merch.

Managers, Executives & Support Staff

Regional managers and executives in 4 regions of India


39

Brandhouse Retail – Experiencing Rapid Growth

No of Stores Revenues

EBITDA Margin

74

165

254

-

50

100

150

200

250

FY08A FY09E FY10E

US$

mm

CAGR: 85.5%

9.7%

12.1%12.8%

5%

8%

10%

13%

15%

FY08A FY09E FY10E

158

300

103

265

114

254

34

19

3

3

3

1

-

100

200

300

400

500

600

700

800

900

FY08A FY09E

No

of S

tore

s

Reid & Taylor Belmonte Carmichael House

Stephens Brothers Escada Dunhill

398

859


Brandhouse Retails – At a glance

2007-08Audited

2008-09Projected

2009-10Projected

Nos of Stores 398 859 1207

Revenues (USD Mn.) 73.4 163.2 251.6

EBIDTA (USD Mn.) 7.1 19.9 32.5

EBIDTA % 9.7% 12.2% 12.9%

PBT (USD Mn.) 5.3 11.9 19.1

PBT % 7.2% 7.3% 7.6%

PAT (USD Mn.) 3.1 7.8 12.6

PAT % 4.2% 4.8% 5.0%

EPS * (USD) 0.06 0.15 0.24* Earning Per Share : EPS is computed based on existing nos of shares.


41



Transaction Update3



Strong Financials5



SKNL Overview1


42

Reid & Taylor (India) Company Overview

Facilit

ies

Com

peti

tor

sM

ark

et

Posit

ion

Pro

du

cts

Dis

trib

uti

on

Manufactured at the state-of-art mill at Mysore, Karnataka Finished fabrics production capacity of 8.4mm mtrs p.a

7-8 players include Raymond, Reliance, Digjam, OCM, Dinesh, BSL

Key players in the market include Madura Garments, Raymond, Arvind brands, Zodiac

Fabrics Ready-to-Wear garment

FY08 Sales $95.5mm FY08 EBITDA Margin 39.9%

No.2 player with 18% market share

FY08 Sales $19.3mmFY08 EBITDA Margin 25.9%

Ready to Wear — Formals Suits (Pure wool, wool blended) Blazers, Tweed jackets,

Shirts in pure cotton and CVC, Trousers in Wool, Wool blended and Cotton

Ready to Wear — Casuals T-Shirts, Smart casual shirts, Polos, chinos and denimsAccessories Ties, belts, trousers, cufflinks and other accessories

Pure wool, Poly wool, Poly viscose, pure linen, pure silk, and superfine polyester

Wide collection of designs-500 designs with some varieties having 40 shades

Retailed through distribution channels with 110 wholesale dealers and 11,000 retailers and 158 Reid & Taylor exclusive stores

Retailed through 300 multi-brand outlets, 158 Reid & Taylor exclusive stores, several large format stores and retail chains


43



44

STRICTLY PRIVATE AND CONFIDENTIAL

Important Notice

By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations:

The information in this document has been prepared by S.Kumars Nationwide Limited (“SKNL") solely for use at a presentation. This document and its contents are confidential and may not be distributed, published, reproduced (in whole or in part) by any medium or in any form, or disclosed or made available by recipients, to any other person.

Nothing in this presentation constitutes investment advice and any recommendations that may be contained herein have not been based upon a consideration of the investment objectives, financial situation or particular needs of any specific recipient.

No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information, or opinions contained herein. Neither SKNL, its investment manager, nor any of SKNL's advisors or representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially.

This document does not constitute or form part of, and should not be construed as, an offer, invitation or inducement to purchase or subscribe for any securities nor shall it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. Any decision to purchase securities should not made on the basis of the information contained in this document. This document does not constitute a recommendation regarding the securities of SKNL.

The information communicated in this document contains certain statements that are or may be forward looking. These statements typically contain words such as "expects" and "anticipates" and words of similar import. By their nature forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future.

Lifestyle

Ready To Wear For Men And Womens