LA Group and its wholly-owned subsidiary, Carter Harris, has entered into an agreement to dispose of its joint wholesale corporate clothing distribution venture in the US to Launch Uniforms CC, with effect from 28 Feb 03. Launch Uniforms is controlled by Mr JL Gochin. The purchase price approximately represents the book value of the assets, which will be finalised pending the completion of the verification thereof. The effect of the transaction on the NAV and EPS of LA Group will not be material. Full disclosure of the financial effects of the transaction will be made with the publication of the group's results for the year ended 28 Feb 03.
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