VF To Acquire Nautica

VF To Acquire NauticaVF Corp., Greensboro, N.C., has agreed to acquire Nautica Enterprises in order
to obtain new entry into the sportswear market, add to its portfolio of brands, and strengthen its
presence at the department and specialty store level. The acquisition, valued at $585.6 million, is
expected to close in the fourth quarter 2003. Nautica will maintain its New York City-based
headquarters, and distribution center in Martinsville, Va.

August 2003