Nuance-Watson (HK)'s happy announcement approaching its 10^th anniversary

Hong Kong (8 July 2008)

July brings much cause for celebration for Nuance-Watson (HK)! Apart from having much excitement over the Beijing Olympics and Hong Kong as the host for the Olympic Equestrian Event this summer, equally exciting to the company is Nuance-Watson's 10th anniversary.

In the past few months, Nuance-Watson made a further leap forward in extending the leadership of the company at HKIA. It has successfully obtained an extension of two more years for the core licenses of General Merchandise and Perfumes & Cosmetics at HKIA. With this extension, Nuance-Watson will also gain approximately 500 square meters for new retail sales after the airport's terminal one East Hall expansion.

Most recently, Nuance-Watson was awarded the concession for Audio Visual & Electronic Equipment for another 5 years. Capitalizing on its well-established "Sound & Vision" brand name, Nuance-Watson (HK) is going to introduce a new branding "Sound & Vision - enriching life". This enhanced branding embodies "Sound & Vision"'s transformation and future, also symbolizes the company's vision for an intelligent integration of high technology and lifestyle to add value to the multi-faceted lives of every purchaser. In the new concession, the company will invest in a fresh new and contemporary store design and an innovative offer to perform its business until 2013. More information will be released at launch.

Adding more important milestones to their 10th anniversary year, Nuance-Watson (HK) was named "Best Fashion, Leathergoods and Accessories Travel Retailer" as well as "Best Gift Travel Retailer" at the May 2008 DFNI Asia Pacific Awards. This month, the company gladly received yet another "Travel Retail Shop of the Year Award" from Hugo Boss, the second time in addition to the 2005 Award. This global award is an important indicator as to both qualitative and quantitative performance of the company. This latest win is a welcome addition to the more than 40 international and local awards that Nuance-Watson has received in the last decade.

In supporting these major fulfilments and more developments to come, Nuance-Watson undertakes to solidify its people asset via further investments in training, professional development and motivational schemes. With a commitment to continuously gain business knowledge, strengthen and upgrade people's skills and capabilities, Nuance-Watson is dedicated to provide passengers at HKIA the "World Class Duty Free Shops and Services" they demand and deserve.

Nuance-Watson is celebrating its 10th anniversary in coming August. More news will be shared to our media friends when it gets closer to the event.

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About Nuance-Watson (HK) Limited

Nuance-Watson (HK) Limited, a joint venture between the A.S. Watson Group and The Nuance Group, is the leading retail operator at Hong Kong International Airport. It operates 43 stores in 2 Terminals under 18 licences, namely general merchandise, perfumes and cosmetics, audio-visual/electronics, brand boutiques and specialty stores.

In 2007, Nuance-Watson (HK) has extended its travel retail business outside of Hong Kong by opening a 20,000 sq. ft. mega department store at Asia's largest integrated resort complex The Venetian Macao as well as two contiguous stores at Zhuhai Airport in China, namely The Plaza department store and Watsons Your Personal Store.

Nuance-Watson's commitment to retail excellence has given it the prestigious Frontier Awards for "Airport/Land-based Retailer of the Year" in 2006 and "Best Partnership Initiative" in 2007. Nuance-Watson was also the winner of Raven Fox Award "Asia/Pacific Travel Retailer of the Year" in 2002 and 2003. Since operation in 1998, Nuance-Watson (HK) has received over 30 international and local awards in recognition of its excellence in operation, product merchandising and customer service.