Re Contract

RNS Number:1563G
Hardy Amies PLC
23 October 2007


                                Hardy Amies plc
                        ("Hardy Amies" or "the Company")


                          Contracts and Store Opening


Statement Andrew Manders, the Chairman of Hardy Amies plc.


"In my statement with the announcement of the half year results for 2007 I
promised to update shareholders on the final outcome of the negotiations
relating to the Japanese license, which was due for renewal on 19th October
2007. I am pleased to announce that with effect from this date we have signed
new license agreements directly with the ten existing sub-licensee operators in
Japan. These agreements are for three years and will provide a minimum sales
income of approximately #850,000 per annum at current exchange rates from 19th
October 2007. This compares with #452,940 included in the profit and loss
account for 2006, representing an increase of approximately 88%. The trademarks
rights for Japan were not owned by Hardy Amies plc under the previous
arrangements, but these now return to the group with effect from 19 October 2007
at no cost.


Daito Woollen Spinning & Weaving Co. Limited ("Diatobo") will no longer be the
master licensee for the Hardy Amies brand in Japan, but they will continue their
long association with Hardy Amies through their wholly owned subsidiary,
Rockingham Penta Co. Limited, which will still have a license for menswear in
Japan. Hardy Amies owes a great debt to Diatobo. Without their efforts I am
convinced the Hardy Amies brand would not be as strong in Japan as it is today.
I hope this relationship continues to flourish going forward through the
connection with Rockingham Penta.


As part of the new arrangements Chiaki Kawasaki will step down from the board of
Hardy Amies plc. I want to thank him for his commitment to the Hardy Amies brand
and particularly his support in recent months in ensuring a smooth changeover to
the new structure.


I am also pleased to announce that our first UK Hardy Amies store outside Savile
Row opened in Edinburgh on 18th October. The store sells the menswear range and
represents a real milestone in the development of the business in the UK.


Finally, we have agreed a joint venture with Aussino Group Limited to develop
retail outlets for Hardy Amies in China. Aussino is an established retailer in
the Asia Pacific region and has the infrastructure and expertise to help
establish Hardy Amies as a luxury brand in China. The joint venture requires a
capital commitment of #0.5 million from Hardy Amies plc, which is matched by
Aussino Group Limited. The plan envisages the opening of our first stores in
China during 2008."


Andrew Manders

23rd October 2007


Contacts

The Company

Andrew Manders           020 7734 2436


Shore Capital - Nominated Adviser to the Company

Guy Peters               020 7408 4090


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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