exv10w6

Termination Date

Interest Period

for Interest Period

Component of Loan

Interest Rate

(LIBOR Rate only)

(If applicable)

Base Rate or LIBOR


SECTION 4.3. Bidding Availability			28

SECTION 4.4. Repayment of Competitive Bid Loans			28

SECTION 4.5. Interest on Competitive Bid Loans			29

SECTION 4.6. Competitive Bid Notes			29

ARTICLE V GENERAL LOAN PROVISIONS			29

SECTION 5.1. Interest			29

SECTION 5.2. Notice and Manner of Conversion or Continuation of Revolving Credit Loans			31

SECTION 5.3. Fees			31

SECTION 5.4. Manner of Payment			32

SECTION 5.5. Crediting of Payments and Proceeds			32

SECTION 5.6. Adjustments			32

SECTION 5.7. Nature of Obligations of Lenders Regarding Extensions of Credit; Assumption by the Administrative Agent			33

SECTION 5.8. Joint and Several Liability of the Credit Parties			33

SECTION 5.9. Changed Circumstances			35

SECTION 5.10. Indemnity			37

SECTION 5.11. Capital Requirements			38

SECTION 5.12. Taxes			38

ARTICLE VI CLOSING; CONDITIONS OF CLOSING AND BORROWING			40

SECTION 6.1. Closing			40

SECTION 6.2. Conditions to Closing and Initial Revolving Credit Loans and Letters of Credit			40

SECTION 6.3. Conditions to Extensions of Credit			42

SECTION 6.4. Conditions Precedent to Each Competitive Bid Borrowing			42

ARTICLE VII REPRESENTATIONS AND WARRANTIES OF THE CREDIT PARTIES			43

SECTION 7.1. Representations and Warranties			43

SECTION 7.2. Survival of Representations and Warranties, Etc.			48


ARTICLE VIII FINANCIAL INFORMATION AND NOTICES			48

SECTION 8.1. Financial Statements and Projections			49

SECTION 8.2. Officer’s Compliance Certificate			49

SECTION 8.3. Accountants’ Certificate			49

SECTION 8.4. Other Reports			49

SECTION 8.5. Notice of Litigation and Other Matters			50

SECTION 8.6. Accuracy of Information			50

ARTICLE IX AFFIRMATIVE COVENANTS			50

SECTION 9.1. Preservation of Corporate Existence and Related Matters			51

SECTION 9.2. Maintenance of Property			51

SECTION 9.3. Insurance			51

SECTION 9.4. Accounting Methods and Financial Records			51

SECTION 9.5. Payment and Performance of Obligations			51

SECTION 9.6. Compliance With Laws and Approvals			51

SECTION 9.7. Environmental Laws			51

SECTION 9.8. Compliance with ERISA			52

SECTION 9.9. Conduct of Business			52

SECTION 9.10. Visits and Inspections			52

SECTION 9.11. Use of Proceeds			52

ARTICLE X FINANCIAL COVENANTS			52

SECTION 10.1. Interest Coverage Ratio			53

SECTION 10.2. Minimum Net Worth			53

ARTICLE XI NEGATIVE COVENANTS			53

SECTION 11.1. Limitations on Debt and Guaranty Obligations			53

SECTION 11.2. [Reserved]			54

SECTION 11.3. Limitations on Liens			55

iii


SECTION 11.4. Limitations on Loans, Advances, Investments and Acquisitions			56

SECTION 11.5. Limitations on Mergers and Liquidation			57

SECTION 11.6. Limitations on Sale or Transfer of Assets			58

SECTION 11.7. Limitations on Dividends and Distributions			58

SECTION 11.8. Transactions with Affiliates			58

SECTION 11.9. Changes in Fiscal Year End			59

SECTION 11.10. Amendments; Payments and Prepayments of Material Debt and Subordinated Debt			59

ARTICLE XII DEFAULT AND REMEDIES			59

SECTION 12.1. Events of Default			59

SECTION 12.2. Remedies			61

SECTION 12.3. Rights and Remedies Cumulative; Non-Waiver; Etc.			62

ARTICLE XIII THE ADMINISTRATIVE AGENT			62

SECTION 13.1. Appointment			62

SECTION 13.2. Delegation of Duties			62

SECTION 13.3. Exculpatory Provisions			62

SECTION 13.4. Reliance by the Administrative Agent			63

SECTION 13.5. Notice of Default			63

SECTION 13.6. Non-Reliance on the Administrative Agent and Other Lenders			64

SECTION 13.7. Indemnification			64

SECTION 13.8. The Administrative Agent in Its Individual Capacity			64

SECTION 13.9. Resignation of the Administrative Agent; Successor Administrative Agent			65

SECTION 13.10. Syndication and Documentation Agents			65

ARTICLE XIV MISCELLANEOUS			65

SECTION 14.1. Notices			65

SECTION 14.2. Expenses; Indemnity			66

SECTION 14.3. Set-off			67


SECTION 14.4. Governing Law			67

SECTION 14.5. Consent to Jurisdiction			67

SECTION 14.6. Waiver of Jury Trial			67

SECTION 14.7. Reversal of Payments			67

SECTION 14.8. Injunctive Relief; Punitive Damages			68

SECTION 14.9. Accounting Matters			68

SECTION 14.10. Successors and Assigns; Participations			68

SECTION 14.11. Amendments, Waivers and Consents			72

SECTION 14.12. Performance of Duties			74

SECTION 14.13. All Powers Coupled with Interest			74

SECTION 14.14. Survival of Indemnities			74

SECTION 14.15. Titles and Captions			74

SECTION 14.16. Severability of Provisions			74

SECTION 14.17. Counterparts			74

SECTION 14.18. Term of Agreement			74

SECTION 14.19. Inconsistencies with Other Documents; Independent Effect of Covenants			74

SECTION 14.20. Patriot Act			74

SECTION 14.21. Ratings of Loans			75

SECTION 14.22. Consent Under Five-Year Credit Agreement			75

Exhibits

Exhibit A— 1 — Form of Revolving Credit Note

Exhibit A— 2 — Form of Competitive Bid Note

Exhibit B—1 — Form of Notice of Revolving Credit Borrowing

Exhibit B—2 — Form of Notice of Competitive Bid Borrowing

Exhibit C — Form of Notice of Account Designation

Exhibit D — Form of Notice of Prepayment

AMENDED AND RESTATED FIVE-YEAR CREDIT AGREEMENT

Dated as of May 16, 2005

JONES APPAREL GROUP USA, INC., a Pennsylvania corporation, the Additional Obligors (as defined below), the Lenders who are or may become a party to this Agreement, J.P. MORGAN SECURITIES INC. and CITIGROUP GLOBAL MARKETS INC., as Co-Lead Arrangers and Joint Bookrunners, WACHOVIA BANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders, JPMORGAN CHASE BANK, N.A. and CITIBANK, N.A., as Syndication Agents, and BANK OF AMERICA, N.A., BARCLAYS BANK PLC and SUNTRUST BANK, as Documentation Agents, agree as follows:

PRELIMINARY STATEMENT. The Borrower, the Additional Obligors, the lenders parties thereto and Wachovia Bank, National Association, as administrative agent, are parties to a Three-Year Credit Agreement dated as of June 10, 2003 (the “ Prior Credit Agreement”). The Borrower, the Additional Obligors, the parties hereto and Wachovia Bank, National Association, as Administrative Agent, desire to amend the Prior Credit Agreement as herein set forth and to restate it in its entirety giving effect to such amendment.

NOW THEREFORE, the parties hereto agree that, subject to the conditions set forth in Section 6.2, the Prior Credit Agreement is hereby amended and restated to read in its entirety as follows:

ARTICLE I DEFINITIONS

SECTION 1.1. Definitions. The following terms when used in this Agreement shall have the meanings assigned to them below:

“Additional Debt Securities” shall have the meaning assigned thereto in Section 11.1(f).

“Additional Obligors” means the collective reference to Jones Apparel Group, Jones Apparel Group Holdings, Kasper, Ltd., Nine West Footwear and Jones Retail in their capacities as co-obligors under this Agreement.

“Administrative Agent” means Wachovia in its capacity as Administrative Agent hereunder, and any successor thereto appointed pursuant to Section 13.9.

“Administrative Agent’s Office” means the office of the Administrative Agent specified in or determined in accordance with the provisions of Section 14.1(c).

“Affiliate” means, with respect to any Person, any other Person (other than a Subsidiary) which directly or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, such first Person or any of its Subsidiaries. The term “ control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise.

“Agreement” means this Amended and Restated Five-Year Credit Agreement, as amended, restated, supplemented or otherwise modified from time to time.

“Alternative Currency” means (a) Pounds Sterling, (b) the euro or (c) any other lawful currency (other than Dollars) acceptable to the Issuing Lenders which, in the case of this clause (c), is freely transferable and convertible into Dollars in the United States currency market and is freely available to all Issuing Lenders in the London interbank deposit market.

“Alternative Currency L/C Commitment” means the lesser of (a) One Hundred Million Dollars ($100,000,000) and (b) the L/C Commitment.

“Applicable Law” means all applicable provisions of constitutions, laws, statutes, ordinances, rules, treaties, regulations, permits, licenses, approvals, interpretations and orders of courts or Governmental Authorities and all orders and decrees of all courts and arbitrators.

“Applicable Margin” means, for purposes of calculating (a) the Base Rate and LIBOR Rate for purposes of Section 5.1(a), (b) the L/C Fee for purposes of Section 3.3(a) or (c) the Facility Fee for purposes of Section 5.3(a), the corresponding rate set forth below for the applicable rating of the senior, unsecured, long-term debt of the Credit Parties, on a collective basis (the “ Debt Rating”) publicly announced by Standard & Poor’s, a division of The McGraw-Hill Companies (“ S&P”), and Moody’s Investors Service, Inc. (“ Moody’s”) as follows:


			Applicable Margin Per Annum
Level	S&P Rating	Moody’s Rating	LIBOR Rate			Base Rate			Trade L/C Fee			Standby L/C Fee			Facility Fee
I	>=A-	>=A3		0.320	%		0.000	%		0.125	%		0.320	%		0.080	%
II	>=BBB+	>=Baa1		0.400	%		0.000	%		0.150	%		0.400	%		0.100	%
III	>=BBB	>=Baa2		0.500	%		0.000	%		0.200	%		0.500	%		0.125	%
IV	>=BBB-	>=Baa3		0.725	%		0.000	%		0.250	%		0.725	%		0.150	%
V	<=BB+	<=Ba1		0.925	%		0.000	%		0.300	%		0.925	%		0.200	%

provided, that if both Moody’s and S&P shall not have in effect a Debt Rating (other than by reason of the circumstances referred to in the last sentence of this definition), then such Debt Rating shall be deemed to be Level V. In the event that the corresponding Debt Ratings publicly announced by S&P and Moody’s listed above differ by (a) one pricing level, the Applicable Margin shall be based on the higher of the two ratings, and (b) two or more pricing levels, the Applicable Margin shall be based on the rating one rating below the higher of the two ratings. Any change in the Applicable Margin shall be effective as of the Business Day on which the applicable rating is announced or is publicly available. If the rating system of S&P and Moody’s shall change, or if both of such rating agencies shall cease to be in the business of rating corporate debt obligations, the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agencies and, pending the effectiveness of any such amendment, the Applicable Margin

shall be determined by reference to the rating most recently in effect prior to such change or cessation.

“Application” means an application, in the form specified by any Issuing Lender from time to time, requesting such Issuing Lender to issue a Letter of Credit.

“Assignment and Acceptance” shall have the meaning assigned thereto in Section 14.10(b)(ii).

“Assuming Lender” has the meaning specified in Section 2.7(d).

“Assumption Agreement” has the meaning specified in Section 2.7(d)(ii).

“Base Rate” means, at any time, the higher of (a) the Prime Rate and (b) the sum of (i) the Federal Funds Rate plus (ii) 1/2 of 1%; each change in the Base Rate shall take effect simultaneously with the corresponding change or changes in the Prime Rate or the Federal Funds Rate.

“Base Rate Loan” means any Revolving Credit Loan bearing interest at a rate based upon the Base Rate as provided in Section 5.1(a).

“Borrower” means Jones Apparel Group USA, Inc.

“Business Day” means (a) any day other than a Saturday, Sunday or legal holiday on which banks in Charlotte, North Carolina, Philadelphia, Pennsylvania and New York, New York, are not authorized or required by law to remain closed for the conduct of their commercial banking business, (b) with respect to all notices and determinations in connection with, and payments of principal and interest on, any LIBOR Rate Loan, the term “ Business Day” shall also exclude any day on which banks are not open for trading in Dollar deposits in the London interbank market, (c) with respect to all notices and determinations in connection with, and payment of principal and interest on, any L/C Obligation denominated in an Alternative Currency, the term “ Business Day” shall also exclude any day on which banks in London do not provide quotations for deposits denominated in such Alternative Currency and (d) with respect to all notices and determinations in connection with, and payment of principal and interest on, any Competitive Bid Loan denominated in an Alternative Currency and bearing interest at the Floating Rate, the term “ Business Day” shall also exclude any day on which banks in London do not provide quotations for deposits denominated in such Alternative Currency.

“Capital Lease” means, with respect to the Credit Parties and their Subsidiaries, any lease of any property that should, in accordance with GAAP, be classified and accounted for as a capital lease on a Consolidated balance sheet of the Credit Parties and their Subsidiaries.

“Change in Control” shall have the meaning assigned thereto in Section 12.1(h).

“Closing Date” means the date of this Agreement or such later Business Day upon which each condition described in Section 6.2 shall be satisfied or waived in all respects.

“Code” means the Internal Revenue Code of 1986, and the rules and regulations thereunder, each as amended, supplemented or otherwise modified from time to time.

“Commitment Date” has the meaning specified in Section 2.7(b).

“Commitment Increase” has the meaning specified in Section 2.7(a).

“Competitive Bid Borrowing” means a borrowing consisting of simultaneous Competitive Bid Loans from each of the Lenders whose offer to make one or more Competitive Bid Loans as part of such borrowing has been accepted under the competitive bidding procedure described in Article IV.

“Competitive Bid Loan” means an advance by a Lender to the Borrower as part of a Competitive Bid Borrowing resulting from the competitive bidding procedure described in Article IV and refers to a Fixed Rate Loan or a Floating Rate Loan.

“Competitive Bid Note” means a promissory note of the Borrower payable to the order of any Lender, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of the Borrower to such Lender resulting from a Competitive Bid Loan made by such Lender.

“Consolidated” means, when used with reference to financial statements or financial statement items of the Credit Parties and their Subsidiaries, such statements or items on a consolidated basis in accordance with applicable principles of consolidation under GAAP.

“Correspondent” means any financial institution designated by an Issuing Lender to act as such Issuing Lender’s correspondent hereunder with respect to the distribution and payment of Letters of Credit denominated in an Alternative Currency.

“Credit Facility” means the collective reference to the Revolving Credit Facility and the L/C Facility.

“Credit Parties” means each of the Additional Obligors and the Borrower.

“Debt” means, with respect to the Credit Parties and their Subsidiaries at any date and without duplication, the sum of the following calculated in accordance with GAAP: (a) all liabilities, obligations and indebtedness, in each case for borrowed money including but not limited to obligations evidenced by bonds, debentures, notes or other similar instruments of any such Person, (b) all obligations to pay the deferred purchase price of property or services of any such Person, except trade payables arising in the ordinary course of business, (c) all obligations of any such Person as lessee under Capital Leases, (d) all Debt of any other Person secured by a Lien on any asset of any such Person, (e) all Guaranty Obligations of any such Person, (f) all obligations, contingent or otherwise, of any such Person relative to the amount of drawn letters of credit not reimbursed as required by the terms thereof, including without limitation any Reimbursement Obligation not reimbursed as required by the terms hereof, and banker’s acceptances issued for the account of any such Person, and (g) all net obligations incurred by any such Person pursuant to Hedging Agreements.

“Default” means any of the events specified in Section 12.1 which with the passage of time, the giving of notice or any other condition, would constitute an Event of Default.

“Dispute” shall have the meaning assigned thereto in Section 14.6.

“Dollar Amount” shall mean (a) with regard to any Obligation denominated in Dollars, the amount thereof and (b) with regard to any Obligation denominated in an Alternative Currency, the amount of Dollars which is equivalent to the sum of (i) the amount so expressed in an Alternative Currency at the applicable-quoted spot rate on the appropriate page of the Reuter’s Screen as determined by the Administrative Agent at the relevant time; plus (ii) any amounts owed by the Borrower pursuant to Section 3.5(b).

“Dollars” or “ $” means, unless otherwise qualified, dollars in lawful currency of the United States.

“EBITDAR” means, with respect to the Credit Parties and their Subsidiaries on a Consolidated basis for any period, the sum of (a) Net Income for such period, plus (b) the sum of the following to the extent deducted in the determination of Net Income: (i) income and franchise taxes, (ii) Interest Expense, (iii) amortization, depreciation, extraordinary non-cash losses and any other non-cash charges (including amortization or write-off of goodwill, transaction expenses, covenants not to compete and other intangible assets, and non-cash charges resulting from purchase accounting related to any acquisition otherwise permitted pursuant to the terms of this Agreement) and (iv) Rental Expense less (c) any items of extraordinary gain which were included in determining Net Income.

“Eligible Assignee” means, with respect to any assignment of the rights, interest and obligations of a Lender hereunder, a Person that is at the time of such assignment (a) a commercial bank organized under the laws of the United States or any state thereof, having combined capital and surplus in excess of $500,000,000, (b) a commercial bank organized under the laws of any other country that is a member of the Organization of Economic Cooperation and Development, or a political subdivision of any such country, having combined capital and surplus in excess of $500,000,000, (c) a finance company, insurance company or other financial institution which in the ordinary course of business extends credit of the type extended hereunder and that has total assets in excess of $1,000,000,000, (d) already a Lender hereunder (whether as an original party to this Agreement or as the assignee of another Lender) or an Affiliate of a Lender hereunder, (e) the successor (whether by transfer of assets, merger or otherwise) to all or substantially all of the commercial lending business of the assigning Lender, (f) any SPC solely to the extent permitted by Section 14.10(h), or (g) any other Person that has been approved in writing as an Eligible Assignee by the Borrower and the Administrative Agent.

“Employee Benefit Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA which (a) is maintained for employees of the Borrower or any ERISA Affiliate or (b) has at any time within the preceding six (6) years been maintained for the employees of the Borrower or any current or former ERISA Affiliate.

“EMU” mean economic and monetary union as contemplated in the Treaty on European Union.

“Environmental Laws” means any and all federal, state and local laws, statutes, ordinances, rules, regulations, permits, licenses, approvals, binding interpretations and orders of courts or Governmental Authorities, relating to the protection of human health or the environment, including, but not limited to, requirements pertaining to the manufacture, processing, distribution, use, treatment, storage, disposal, transportation, handling, reporting, licensing, permitting, investigation or remediation of Hazardous Materials.

“ERISA” means the Employee Retirement Income Security Act of 1974, and the rules and regulations thereunder, each as amended, supplemented or otherwise modified from time to time.

“ERISA Affiliate” means any Person who together with the Borrower is treated as a single employer within the meaning of Section 414(b), (c), (m) or (o) of the Code or Section 4001(b) of ERISA.

“EURIBO Rate” means the rate appearing on Page 248 of the Moneyline Telerate Service (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to deposits in euro by reference to the Banking Federation of the European Union Settlement Rates for deposits in euro) at approximately 10:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for deposits in euro with a maturity comparable to such Interest Period or, if for any reason such rate is not available, the average (rounded upward to the nearest whole multiple of 1/100 of 1% per annum, if such average is not such a multiple) of the respective rates per annum at which deposits in euros are offered by the Reference Group in London, England to prime banks in the London interbank market at 11:00 A.M. (London time) two Business Days before the first day of such Interest Period in an amount substantially equal to the amount of the applicable Competitive Bid Loan.

“euro” means the single currency of the European Union as constituted by the Treaty on European Union and as referred to in the legislative measures of the European Union for the introduction of, changeover to or operation of the euro in one or more member states.

“Eurodollar Reserve Percentage” means, for any day, the percentage (expressed as a decimal and rounded upwards, if necessary, to the next higher 1/100th of 1%) which is in effect for such day as prescribed by the Federal Reserve Board (or any successor) for determining the maximum reserve requirement (including without limitation any basic, supplemental or emergency reserves) in respect of eurocurrency liabilities or any similar category of liabilities for a member bank of the Federal Reserve System in New York City.

“Event of Default” means any of the events specified in Section 12.1, provided that any requirement for passage of time, giving of notice, or any other condition, has been satisfied.

“Existing Debt Securities” means the 8 3/8% Series B Senior Notes due 2005, the 7.875% Senior Notes due 2006, the 4.250% Senior Notes due 2009, the 5.125% Senior Notes due 2014 and the 6.125% Senior Notes due 2034 of Jones Apparel Group.

“Existing Loans” shall have the meaning assigned thereto in Section 6.2(f).

“Extensions of Credit” means, as to any Lender at any time, (a) an amount equal to the sum of (i) the aggregate principal amount of all Revolving Credit Loans made by such Lender then outstanding, and (ii) such Lender’s Revolving Credit Commitment Percentage of the Dollar Amount of (A) the L/C Obligations then outstanding and (B) the Competitive Bid Loans then outstanding, or (b) the making of any Loan or participation in any Letter of Credit by such Lender, as the context requires.

“Facility Fee” shall have the meaning assigned thereto in Section 5.3(a).

“FDIC” means the Federal Deposit Insurance Corporation, or any successor thereto.

“Federal Funds Rate” means, the rate per annum (rounded upwards, if necessary, to the next higher 1/100th of 1%) representing the daily effective federal funds rate as quoted by the Administrative Agent and confirmed in Federal Reserve Board Statistical Release H.15 (519) or any successor or substitute publication selected by the Administrative Agent. If, for any reason, such rate is not available, then “ Federal Funds Rate” shall mean a daily rate which is determined, in the opinion of the Administrative Agent, to be the rate at which federal funds are being offered for sale in the national federal funds market at 9:00 a.m. (Charlotte time). Rates for weekends or holidays shall be the same as the rate for the most immediate preceding Business Day.

“Fiscal Year” means the fiscal year of the Credit Parties and their Subsidiaries ending on December 31.

“Five-Year Credit Agreement” means the Amended and Restated Five-Year Credit Agreement dated as of June 15, 2004 by and among the Borrower, the Additional Obligors thereunder, the Administrative Agent thereunder and the financial institutions party thereto, as amended, restated, supplemented, replaced, refinanced or otherwise modified from time to time.

“Five-Year Credit Agreement Obligations” means the obligations of the Borrower and the Additional Obligors thereunder under the Five-Year Credit Agreement.

“Fixed Rate Loan” has the meaning specified in Section 4.1(a).

“Floating Rate Loan” means a Competitive Bid Loan bearing interest based on the EURIBO Rate or LIBOR.

“Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which the Borrower is located. For purposes of this definition, the United States of America, each state thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.

“GAAP” means generally accepted accounting principles, as recognized by the American Institute of Certified Public Accountants and the Financial Accounting Standards Board, consistently applied and maintained on a consistent basis for the Credit Parties and their Subsidiaries throughout the period indicated.

“Governmental Approvals” means all authorizations, consents, approvals, licenses and exemptions of, registrations and filings with, and reports to, all Governmental Authorities.

“Governmental Authority” means any nation, province, state or political subdivision thereof, and any government or any Person exercising executive, legislative, regulatory or administrative functions of or pertaining to government, and any corporation or other entity owned or controlled, through stock or capital ownership or otherwise, by any of the foregoing.

“Granting Lender” shall have the meaning assigned thereto in Section 14.10(h).

“Guaranty Obligation” means, with respect to the Credit Parties and their Subsidiaries, without duplication, any obligation, contingent or otherwise, of any such Person pursuant to which such Person has directly or indirectly guaranteed any Debt or other obligation of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of any such Person (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Debt or other obligation (whether arising by virtue of partnership arrangements, by agreement to keep well, to purchase assets, goods, securities or services, to take-or-pay, or to maintain financial statement condition or otherwise) or (b) entered into for the purpose of assuring in any other manner the obligee of such Debt or other obligation of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided, that the term Guaranty Obligation shall not include (i) endorsements for collection or deposit in the ordinary course of business or (ii) a contractual commitment by one Person to invest in another Person for so long as such investment is expected to constitute a permitted investment under Section 11.4.

“Hazardous Materials” means any substances or materials (a) which are or become defined as hazardous wastes, hazardous substances, pollutants, contaminants, chemical substances or mixtures or toxic substances under any Environmental Law, (b) which are toxic, explosive, corrosive, flammable, infectious, radioactive, carcinogenic, mutagenic or otherwise harmful to human health or the environment and are or become regulated by any Governmental Authority, (c) the presence of which require investigation or remediation under any Environmental Law, (d) the discharge or emission or release of which requires a permit or license under any Applicable Law or other Governmental Approval, or (e) which contain, without limitation, asbestos, polychlorinated biphenyls, urea formaldehyde foam insulation, petroleum hydrocarbons, petroleum derived substances or waste, crude oil, nuclear fuel, natural gas or synthetic gas.

“Hedging Agreement” means any agreement with respect to an interest rate or currency swap, collar, cap, floor or forward rate agreement or other agreement regarding the hedging of interest rate or currency risk exposure executed in connection with hedging the interest rate or currency exposure of any Credit Party, and any confirming letter executed pursuant to such hedging agreement, all as amended, restated or otherwise modified from time to time.

“Increase Date” has the meaning specified in Section 2.7(a).

“Increasing Lender” has the meaning specified in Section 2.7(b).

“Interest Coverage Ratio” shall have the meaning assigned thereto in Section 10.1.

“Interest Expense” means, for any period, total interest expense (including, without limitation, interest expense attributable to Capital Leases) determined on a consolidated basis, without duplication, for the Credit Parties and their Subsidiaries in accordance with GAAP.

“Interest Period” shall have the meaning assigned thereto in Section 5.1(b).

“ISP 98” means the International Standby Practices (1998 Revision, effective January 1, 1999), International Chamber of Commerce Publication No. 590.

“Issuing Lender” means Wachovia, Citibank, N.A., JPMorgan Chase Bank, N.A. and Bank of America, N.A., each in its capacity as issuer of any Letter of Credit, and any other Lender mutually acceptable and on terms satisfactory to the Borrower, the Administrative Agent and such Lender; and Issuing Lenders means all such Lenders.

“Jones Apparel Group” means Jones Apparel Group, Inc., a Pennsylvania corporation.

“Jones Apparel Group Holdings” means Jones Apparel Group Holdings, Inc., a Delaware corporation.

“Jones Retail” means Jones Retail Corporation, a New Jersey corporation.

“Kasper, Ltd.” means Kasper, Ltd., a Delaware corporation.

“L/C Commitment” means Seven Hundred Fifty Million Dollars ($750,000,000).

“L/C Facility” means the letter of credit facility established pursuant to Article III hereof.

“L/C Fee” shall have the meaning assigned thereto in Section 3.3(a).

“L/C Obligations” means at any time, an amount equal to the sum of (a) the aggregate undrawn and unexpired amount of the then outstanding Letters of Credit and (b) the aggregate amount of drawings under Letters of Credit which have not then been reimbursed pursuant to Section 3.5.

“L/C Participants” means the collective reference to all the Lenders having a Revolving Credit Commitment other than the applicable Issuing Lender.

“Lender” means each Person executing this Agreement as a Lender set forth on the signature pages hereto, each Assuming Lender that shall become a party hereto pursuant to Section 2.7 and each Person that hereafter becomes a party to this Agreement as a Lender pursuant to Section 14.10 other than any party hereto that ceases to be a party hereto pursuant to any Assignment and Acceptance.

“Lending Group Members” means the collective reference to (a) the Lenders party to this Agreement and (b) the lenders party to the Five-Year Credit Agreement.

“Lending Office” means, with respect to any Lender, for Revolving Credit Loans, the office of such Lender maintaining such Lender’s Revolving Credit Commitment Percentage of the Revolving Credit Loans and, in the case of a Competitive Bid Loan, the office of such Lender notified by such Lender to the Agent as its Lending Office with respect to such Competitive Bid Loan.

“Letters of Credit” shall have the meaning assigned thereto in Section 3.1.

“LIBOR” means the rate of interest per annum determined on the basis of the rate for deposits in Dollars or an Alternative Currency (other than euro) in minimum amounts of at least $5,000,000 or the approximate Dollar Amount thereof, in the case of an Alternative Currency, for a period equal to the applicable Interest Period which appears on the Moneyline Telerate Markets Screen 3750 (or on any successor or substitute page of such service, or any successor to or substitute for such service, providing rate quotations comparable to those currently provided on such page of such service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to deposits in such currency in the London interbank market) at approximately 11:00 a.m. (London time) two (2) Business Days prior to the first day of the applicable Interest Period (rounded upward, if necessary, to the nearest one hundredth of one percent (1/100%)). If, for any reason, such rate does not appear on Moneyline Telerate Markets Screen 3750, then “ LIBOR” shall be determined by the Administrative Agent to be the arithmetic average (rounded upward, if necessary, to the nearest one-hundredth of one percent (1/100%)) of the rate per annum at which deposits in Dollars or an Alternative Currency would be offered by the Reference Group in the London interbank market to the Administrative Agent as of approximately 11:00 a.m. (London time) two (2) Business Days prior to the first day of the applicable Interest Period for a period equal to such Interest Period and in an amount substantially equal to the amount of the applicable Revolving Credit Loan or the applicable Competitive Bid Loan, as the case may be.

“LIBOR Rate” means a rate per annum (rounded upwards, if necessary, to the next higher 1/100th of 1%) determined by the Administrative Agent pursuant to the following formula:



LIBOR RATE	=	LIBOR

		1.00 — Eurodollar Reserve Percentage

“LIBOR Rate Loan” means any Revolving Credit Loan bearing interest at a rate based upon the LIBOR Rate as provided in Section 5.1(a).

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset. For the purposes of this Agreement, a Person shall be deemed to own subject to a Lien any asset which it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement, Capital Lease or other title retention agreement relating to such asset.

“Loan” means a Revolving Credit Loan or a Competitive Bid Loan.

“Loan Documents” means, collectively, this Agreement, the Notes, the Applications and each other document, instrument and agreement executed and delivered by any Credit Party, its Subsidiaries or their counsel in connection with this Agreement, all as may be amended, restated, supplemented or otherwise modified.

“Material Adverse Effect” means, with respect to the Credit Parties or any of their Subsidiaries, a material adverse effect on the business, assets, operations or financial condition of the Credit Parties and their Subsidiaries taken as a whole or the ability of any such Person to perform its obligations under the Loan Documents, in each case to which it is a party.

“Multiemployer Plan” means a “ multiemployer plan” as defined in Section 4001(a)(3) of ERISA to which the Borrower or any ERISA Affiliate is making (or has made), or is accruing (or has accrued) an obligation to make, contributions either presently or within the preceding six years.

“Net Income” means, with respect to the Credit Parties and their Subsidiaries for any period, the Consolidated net income (or loss) of the Credit Parties and their Subsidiaries for such period determined in accordance with GAAP; provided, that there shall be excluded from net income (or loss) of a Person (the “computing Person”), the income (or loss) of any Person (other than a Subsidiary of the computing Person) in which the computing Person has an ownership interest unless received by the computing Person in a cash distribution.

“Net Worth” means, with respect to the Credit Parties and their Subsidiaries, as of any date, the total shareholders’ equity that would appear on a Consolidated balance sheet of the Credit Parties and their Subsidiaries prepared as of such date in accordance with GAAP.

“Nine West Footwear” means Nine West Footwear Corporation, a Delaware corporation.

“Note” means a Revolving Credit Note or a Competitive Bid Note.

“Notice of Account Designation” shall have the meaning assigned thereto in Section 2.2(b).

“Notice of Competitive Bid Borrowing” shall have the meaning assigned thereto in Section 4.1.

“Notice of Conversion/Continuation” shall have the meaning assigned thereto in Section 5.2.

“Notice of Prepayment” shall have the meaning assigned thereto in Section 2.3(c).

“Notice of Revolving Credit Borrowing” shall have the meaning assigned thereto in Section 2.2(a).

“Obligations” means, in each case, whether now in existence or hereafter arising: (a) the principal of and interest on (including interest accruing after the filing of any

bankruptcy or similar petition) the Loans, (b) the L/C Obligations, (c) all payment and other obligations owing by the Credit Parties to any Lender or Affiliate of a Lender or the Administrative Agent under any Hedging Agreement with any Lender or Affiliate of a Lender (which such Hedging Agreement is permitted hereunder), and (d) all other fees and commissions (including attorney’s fees), charges, indebtedness, loans, liabilities, financial accommodations, obligations, covenants and duties owing by the Credit Parties to the Lenders or the Administrative Agent, of every kind, nature and description, direct or indirect, absolute or contingent, due or to become due, contractual or tortious, liquidated or unliquidated, and whether or not evidenced by any note, in each case under or in respect of this Agreement, any Note, any Letter of Credit or any of the other Loan Documents.

“Officer’s Compliance Certificate” shall have the meaning assigned thereto in Section 8.2.

“Operating Lease” shall mean, as to any Person, as determined in accordance with GAAP, any lease of property (whether real, personal or mixed) by such Person as lessee which is not a Capital Lease.

“Other Taxes” shall have the meaning assigned thereto in Section 5.12(b).

“Outstanding Letters of Credit” means each letter of credit described on Schedule 1.1(b) and outstanding as of the Closing Date.

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA or any successor agency.

“Pension Plan” means any Employee Benefit Plan, other than a Multiemployer Plan, which is subject to the provisions of Title IV of ERISA or Section 412 of the Code.

“Permitted Investment Policy” of the Credit Parties means the investment policy of the Credit Parties as in effect on the date of this Agreement which has been approved by the Board of Directors of Jones Apparel Group, as amended, restated, supplemented or otherwise modified from time to time.

“Permitted Lines of Business” shall have the meaning assigned thereto in Section 9.9.

“Person” means an individual, corporation, limited liability company, partnership, association, trust, business trust, joint venture, joint stock company, pool, syndicate, sole proprietorship, unincorporated organization, Governmental Authority or any other form of entity or group thereof.

“Pounds Sterling” means, unless otherwise qualified, pounds sterling in lawful currency of the United Kingdom.

“Prime Rate” means, at any time, the rate of interest per annum publicly announced from time to time by Wachovia as its prime rate in effect at its principal office in Charlotte, North Carolina. Each change in the Prime Rate shall be effective as of the opening of business on the day such change in the Prime Rate occurs. The parties hereto acknowledge that the rate announced publicly by Wachovia as its Prime Rate is an index

or base rate and shall not necessarily be its lowest or best rate charged to its customers or other banks.

“Prior Credit Agreement” shall have the meaning assigned thereto in the Preliminary Statement.

“Prior Lenders” means, collectively, the lenders party to the Prior Credit Agreement.

“Reference Group” shall mean the Lenders party to this Agreement on the Closing Date.

“Register” shall have the meaning assigned thereto in Section 2.4(a).

“Reimbursement Obligation” means the obligation of the Borrower to reimburse each Issuing Lender pursuant to Section 3.5 for amounts drawn under Letters of Credit.

“Rental Expense” means all obligations of the Credit Parties or any of their Subsidiaries for payments under Operating Leases.

“Required Agreement Lenders” means, at any date, any combination of Lenders whose Revolving Credit Commitment Percentage equals at least fifty-one percent (51%) of the Revolving Credit Commitment or if the Revolving Credit Commitment has been terminated, any combination of Lenders who collectively hold at least fifty-one percent (51%) of the aggregate unpaid principal amount of the Extensions of Credit (other than Competitive Bid Loans).

“Required Lenders” means, at any date, any combination of Lending Group Members whose Total Committed Percentage equals at least fifty-one percent (51%) of the Total Committed Amount.

“Responsible Officer” means any of the following: the chairman, president, chief executive officer, chief financial officer or vice president and corporate controller of the Borrower or Jones Apparel Group or any other officer of the Borrower or Jones Apparel Group reasonably acceptable to the Administrative Agent.

“Revolving Credit Commitment” means (a) as to any Lender, the obligation of such Lender to make Revolving Credit Loans to the Borrower and to participate in Letters of Credit hereunder in an aggregate principal amount at any time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 1.1(a) hereto as such amount may be increased, reduced or modified at any time or from time to time pursuant to the terms hereof and (b) as to all Lenders, the aggregate Revolving Credit Commitment of all Lenders to make Revolving Credit Loans, as such amount may be increased or reduced at any time or from time to time pursuant to the terms hereof. The Revolving Credit Commitment of all Lenders on the Closing Date shall be Seven Hundred Fifty Million Dollars ($750,000,000).

“Revolving Credit Commitment Percentage” means, as to any Lender at any time, the ratio of (a) the amount of the Revolving Credit Commitment of such Lender to (b) the Revolving Credit Commitment of all of the Lenders.

“Revolving Credit Facility” means the revolving credit facility established pursuant to Article II hereof.

“Revolving Credit Loans” means any revolving loan made to the Borrower pursuant to Section 2.1, and all such revolving loans collectively as the context requires.

“Revolving Credit Notes” means the collective reference to the Revolving Credit Notes made by the Borrower under this Agreement payable to the order of any such Lender requesting such note, substantially in the form of Exhibit A-1 hereto, evidencing the obligation owed to such Lender under the Revolving Credit Facility, and any amendments and modifications thereto, any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part; “ Revolving Credit Note” means any of such Revolving Credit Notes.

“Revolving Credit Termination Date” means the earliest of the dates referred to in Section 2.6.

“SPC” shall have the meaning assigned thereto in Section 14.10(h).

“Subordinated Debt” means the collective reference to Debt on Schedule 7.1(p) hereof designated as Subordinated Debt and any other Debt of the Credit Parties or any Subsidiary thereof subordinated in right and time of payment to the Obligations and otherwise permitted hereunder.

“Subsidiary” means, with respect to any Person (the “ parent”) at any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be Consolidated with those of the parent in the parent’s Consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing more than fifty percent (50%) of the equity or more than fifty percent (50%) of the ordinary voting power or, in the case of a partnership, more than fifty percent (50%) of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise controlled, by the parent or one or more subsidiaries of the parent. Unless otherwise qualified references to “ Subsidiary” or “ Subsidiaries” herein shall refer to those of the Borrower.

“Syndication Agents” means JPMorgan Chase Bank, N.A. and Citibank, N.A., each in their capacity as syndication agent hereunder, and any successor thereto.

“Taxes” shall have the meaning assigned thereto in Section 5.12(a).

“Termination Event” means: (a) a “ Reportable Event” described in Section 4043 of ERISA, or (b) the withdrawal of the Borrower or any ERISA Affiliate from a Pension Plan during a plan year in which it was a “ substantial employer” as defined in Section 4001(a)(2) of ERISA, or (c) the termination of a Pension Plan, the filing of a notice of intent to terminate a Pension Plan or the treatment of a Pension Plan amendment as a termination under Section 4041 of ERISA, or (d) the institution of proceedings to terminate, or the appointment of a trustee with respect to, any Pension Plan by the PBGC, or (e) any other event or condition which would constitute grounds under Section 4042(a) of ERISA for the termination of, or the appointment of a trustee to administer, any

Pension Plan, or (f) the partial or complete withdrawal of the Borrower or any ERISA Affiliate from a Multiemployer Plan, or (g) the imposition of a Lien pursuant to Section 412 of the Code or Section 302 of ERISA, or (h) any event or condition which results in the reorganization or insolvency of a Multiemployer Plan under Sections 4241 or 4245 of ERISA, or (i) any event or condition which results in the termination of a Multiemployer Plan under Section 4041A of ERISA or the institution by PBGC of proceedings to terminate a Multiemployer Plan under Section 4042 of ERISA.

“Total Committed Amount” means (a) as to any Lending Group Member, the sum of (i) the Revolving Credit Commitment of such Lending Group Member (or, if such Revolving Credit Commitment has been terminated, the aggregate unpaid principal amount of all outstanding Extensions of Credit (other than Competitive Bid Loans) of such Lending Group Member) plus (ii) the Revolving Credit Commitment (as defined in the Five-Year Credit Agreement) of such Lending Group Member (or, if such Revolving Credit Commitment has been terminated, the aggregate unpaid principal amount of all outstanding Extensions of Credit (as defined in the Five-Year Credit Agreement) of such Lending Group Member) and (b) as to all Lenders, the aggregate Total Committed Amount of all Lending Group Members.

“Total Committed Percentage” means, as to any Lending Group Member at any time, the ratio of (a) the amount of the Total Committed Amount of such Lending Group Member to (b) the aggregate Total Committed Amount of all Lending Group Members.

“Treaty on European Union” means the Treaty of Rome of March 25, 1957, as amended by the Single European Act 1986 and the Maastricht Treaty (signed February 7, 1992), as amended from time to time.

“UCC” means the Uniform Commercial Code as in effect in the State of New York, as amended, restated or otherwise modified from time to time.

“Uniform Customs” means the Uniform Customs and Practice for Documentary Credits (1994 Revision), International Chamber of Commerce Publication No. 500.

“United States” means the United States of America.

“Wachovia” means Wachovia Bank, National Association, a national banking association, and its successors.

“Wholly-Owned” means, with respect to a Subsidiary, that all of the shares of capital stock or other ownership interests of such Subsidiary (other than directors’ qualifying shares) are, directly or indirectly, owned or controlled by any Credit Party and/or one or more of its Wholly-Owned Subsidiaries.

SECTION 1.2. General. Unless otherwise specified, a reference in this Agreement to a particular section, subsection, Schedule or Exhibit is a reference to that section, subsection, Schedule or Exhibit of this Agreement. Terms defined in this Agreement and the Five-Year Credit Agreement shall be construed consistently and no term defined herein shall be limited or restricted by any similar definition in the Five-Year Credit Agreement nor shall any such term herein limit or restrict any similar definition in the Five-Year Credit Agreement. Wherever from the context it appears appropriate, each term stated in either the singular or plural shall include the singular and plural, and pronouns stated in the masculine, feminine or neuter gender shall

ARTICLE II REVOLVING CREDIT FACILITY

SECTION 2.1. Revolving Credit Loans. Subject to the terms and conditions of this Agreement, each Lender severally agrees to make Revolving Credit Loans in Dollars to the Borrower from time to time from the Closing Date through the Revolving Credit Termination Date as requested by the Borrower in accordance with the terms of Section 2.2; provided, that (a) the aggregate principal amount of all outstanding Revolving Credit Loans (after giving effect to any amount requested) shall not exceed the Revolving Credit Commitment less the sum of (i) all outstanding L/C Obligations and (ii) the aggregate principal amount of all Competitive Bid Loans then outstanding and (b) the principal amount of outstanding Revolving Credit Loans from any Lender to the Borrower shall not at any time exceed such Lender’s Revolving Credit Commitment less such Lender’s participations in outstanding L/C Obligations. Each Revolving Credit Loan by a Lender shall be in a principal amount equal to such Lender’s Revolving Credit Commitment Percentage of the aggregate principal amount of Revolving Credit Loans requested on such occasion. Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow Revolving Credit Loans hereunder until the Revolving Credit Termination Date.

SECTION 2.2. Procedure for Advances of Revolving Credit Loans. (a) Requests for Borrowing. The Borrower shall give the Administrative Agent irrevocable prior written notice in the form attached hereto as Exhibit B-1 (a “ Notice of Revolving Credit Borrowing”) not later than 11:00 a.m. (Charlotte time) (i) on the same Business Day as each Base Rate Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such borrowing, which shall be a Business Day, (B) the amount of such borrowing, which shall be in an amount equal to the unused amount of the Revolving Credit Commitment, or if less, (x) with respect to Base Rate Loans in an aggregate principal amount of $1,000,000 or a whole multiple of $250,000 in excess thereof and (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof, (C) whether such Revolving Credit Loan is to be a LIBOR Rate Loan or Base Rate Loan, and (D) in the case of a LIBOR Rate Loan, the duration of the Interest Period applicable thereto. Notices received after 11:00 a.m. (Charlotte time) shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Lenders of each Notice of Revolving Credit Borrowing.

(b) Disbursement of Revolving Credit Loans. Not later than 2:00 p.m. (Charlotte time) on the proposed borrowing date, each Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, such Lender’s Revolving Credit Commitment Percentage of the Revolving Credit Loans to be made on such borrowing date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of each borrowing requested pursuant to this Section 2.2 in immediately available funds by crediting or wiring such proceeds to the deposit account of the Borrower identified in the most recent notice of account designation, substantially in the form of Exhibit C hereto (a “ Notice of Account Designation”), delivered by the Borrower to the Administrative Agent or as may be otherwise agreed upon by the Borrower and the Administrative Agent from time to time. Subject to Section 5.7 hereof, the Administrative Agent shall not be obligated to disburse the portion of the proceeds of any Revolving Credit Loan requested pursuant to this Section 2.2 for which any Lender is responsible to the extent that such Lender has not made available to the Administrative Agent its Revolving Credit Commitment Percentage of such Revolving Credit Loan.

SECTION 2.3. Repayment of Revolving Credit Loans. (a) Repayment on Termination Date. The Borrower shall repay the outstanding principal amount of all Revolving Credit Loans in full on the Revolving Credit Termination Date, with all accrued but unpaid interest thereon.

(b) Mandatory Repayment of Excess Extensions of Credit. (i) If at any time the outstanding principal amount of all Revolving Credit Loans plus the sum of the Dollar Amount of (A) all outstanding L/C Obligations and (B) all Competitive Bid Loans exceeds the Revolving Credit Commitment, the Borrower shall repay immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Lenders, Revolving Credit Loans and/or furnish cash collateral reasonably satisfactory to the Administrative Agent or repay the L/C Obligations in an amount equal to such excess. Such cash collateral shall be applied in accordance with Section 12.2(b).

(ii) Excess Alternative Currency Letters of Credit. If the Administrative Agent shall determine that the outstanding principal Dollar Amount of all outstanding Letters of Credit denominated in an Alternative Currency exceeds one hundred and five percent (105%) of the lesser of (A) the L/C Commitment less the sum of the outstanding principal amount of all L/C Obligations denominated in Dollars and (B) the Alternative Currency L/C Commitment, in each case as of the last Business Day of any calendar month during the term hereof, then not later than three (3) Business Days after notice of the amount of such excess from the Administrative Agent to the Borrower, the Borrower shall deposit an amount in Dollars equal to such excess with the Administrative Agent to be held as cash collateral in accordance with Section 12.2(b).

(c) Optional Repayments. The Borrower may at any time and from time to time repay the Revolving Credit Loans, in whole or in part, upon at least three (3) Business Days’ irrevocable notice to the Administrative Agent with respect to LIBOR Rate Loans and one (1) Business Day’s irrevocable notice with respect to Base Rate Loans, in the form attached hereto as Exhibit D (a “ Notice of Prepayment”) specifying the date and amount of repayment and whether the repayment is of LIBOR Rate Loans, Base Rate Loans, or a combination thereof, and, if of a combination thereof, the amount allocable to each. Upon receipt of such notice, the Administrative Agent shall promptly notify each Lender. If any such notice is given, the amount specified in such notice shall be due and payable on the date set forth in such notice. Partial repayments shall be in an aggregate amount of $1,000,000 or a whole multiple of $250,000 in excess thereof with respect to Base Rate Loans and $5,000,000 or a whole multiple of $1,000,000 in excess thereof with respect to LIBOR Rate Loans.

(d) Limitation on Repayment of LIBOR Rate Loans. The Borrower may not repay any LIBOR Rate Loan on any day other than on the last day of the Interest Period applicable thereto unless such repayment is accompanied by any amount required to be paid pursuant to Section 5.10 hereof.

SECTION 2.4. Evidence of Debt. (a) The Administrative Agent shall maintain a register and a subaccount therein for each Lender (the “ Register”), in which shall be recorded (i) the amount of each Revolving Credit Loan made hereunder, including each Revolving Credit Loan evidenced by a Revolving Credit Note, and each Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) both the amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender’s share thereof.

(b) The entries made in the Register and the accounts of each Lender maintained pursuant to Section 2.4(a) shall, to the extent permitted by applicable law, be prima facie

evidence of the existence and amounts of the obligations of the Borrowers therein recorded, absent manifest error; provided, however, that the failure of the Administrative Agent to maintain the Register or any such account, or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) the Revolving Credit Loans made to the Borrower in accordance with the terms of this Agreement.

(c) The Borrower hereby agrees that, upon the request to the Administrative Agent by any Lender, the Borrower will execute and deliver to such Lender a Revolving Credit Note of such Borrower evidencing the Revolving Credit Loans of such Lender, substantially in the form of Exhibit A-1.

SECTION 2.5. Permanent Reduction of the Revolving Credit Commitment (a) Voluntary Reduction. The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days’ prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty, (i) the entire Revolving Credit Commitment at any time or (ii) portions of the Revolving Credit Commitment, from time to time, in an aggregate principal amount not less than $5,000,000 or any whole multiple of $1,000,000 in excess thereof, provided further that the aggregate amount of the Revolving Credit Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal Dollar Amount of the Competitive Bid Loans then outstanding.

(b) Each permanent reduction of the Revolving Credit Commitment made pursuant to this Section 2.5 shall be accompanied, if necessary, by a payment of principal sufficient to reduce the aggregate outstanding Revolving Credit Loans and L/C Obligations, as applicable, after such reduction to the Revolving Credit Commitment as so reduced and if the Revolving Credit Commitment as so reduced is less than the aggregate amount of all outstanding Letters of Credit, the Borrower shall be required to deposit in a cash collateral account opened by the Administrative Agent an amount equal to the amount by which the aggregate then undrawn and unexpired amount of such Letters of Credit exceeds the Revolving Credit Commitment as so reduced. Any reduction of the Revolving Credit Commitment to zero (including upon termination of the Revolving Credit Facility on the Revolving Credit Termination Date) shall be accompanied by payment of all outstanding Revolving Credit Loans (and furnishing of cash collateral satisfactory to the Administrative Agent for all L/C Obligations) and shall result in the termination of the Revolving Credit Commitment and the Revolving Credit Facility. Such cash collateral shall be applied in accordance with Section 12.2(b). If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 5.10 hereof.

SECTION 2.6. Termination of Revolving Credit Facility. The Revolving Credit Facility shall terminate on the earliest of (a) May 16, 2010, (b) the date of termination of the entire Revolving Credit Commitment by the Borrower pursuant to Section 2.5(a), and (c) the date of termination by the Administrative Agent on behalf of the Lenders pursuant to Section 12.2(a).

SECTION 2.7. Increase in the Aggregate Revolving Credit Commitments.

(a) The Borrower may, at any time but in any event not more than once in any calendar year prior to the Revolving Credit Termination Date, by notice to the Administrative Agent, request that the aggregate amount of the Revolving Credit Commitments be increased by an amount of $25,000,000 or an integral multiple thereof (each a “ Commitment Increase”) to be effective as of a date that is at least 90 days prior to the scheduled Revolving Credit Termination Date (the “ Increase Date”) as specified in the related notice to the Administrative Agent;

provided, however that (i) in no event shall the aggregate amount of the Revolving Credit Commitments at any time exceed $850,000,000 and (ii) on the date of any request by the Borrower for a Commitment Increase and on the related Increase Date, (x) the representations and warranties in Section 7.1 shall be true and correct and (y) no Default shall have occurred and be continuing.

(b) The Administrative Agent shall promptly notify the Lenders of a request by the Borrower for a Commitment Increase, which notice shall include (i) the proposed amount of such requested Commitment Increase, (ii) the proposed Increase Date and (iii) the date by which Lenders wishing to participate in the Commitment Increase must commit to an increase in the amount of their respective Revolving Credit Commitments (the “ Commitment Date”). Each Lender that is willing to participate in such requested Commitment Increase (each an “ Increasing Lender”) shall, in its sole discretion, give written notice to the Administrative Agent on or prior to the Commitment Date of the amount by which it is willing to increase its Revolving Credit Commitment. If the Lenders notify the Administrative Agent that they are willing to increase the amount of their respective Revolving Credit Commitments by an aggregate amount that exceeds the amount of the requested Commitment Increase, the requested Commitment Increase shall be allocated among the Lenders willing to participate therein in such amounts as are agreed between the Borrower and the Administrative Agent.

(c) Promptly following each Commitment Date, the Administrative Agent shall notify the Borrower as to the amount, if any, by which the Lenders are willing to participate in the requested Commitment Increase. If the aggregate amount by which the Lenders are willing to participate in any requested Commitment Increase on any such Commitment Date is less than the requested Commitment Increase, then the Borrower may extend offers to one or more Eligible Assignees to participate in any portion of the requested Commitment Increase that has not been committed to by the Lenders as of the applicable Commitment Date; provided, however, that the Revolving Credit Commitment of each such Eligible Assignee shall be in an amount of $5,000,000 or more.

(d) On each Increase Date, each Eligible Assignee that accepts an offer to participate in a requested Commitment Increase in accordance with Section 2.7(b) (each such Eligible Assignee, an “ Assuming Lender”) shall become a Lender party to this Agreement as of such Increase Date and the Revolving Credit Commitment of each Increasing Lender for such requested Commitment Increase shall be so increased by such amount (or by the amount allocated to such Lender pursuant to the last sentence of Section 2.7(b)) as of such Increase Date; provided, however, that the Administrative Agent shall have received on or before such Increase Date the following, each dated such date:

(i) (A) certified copies of resolutions of the Board of Directors of the Borrower approving the Commitment Increase, (B) a consent from each Additional Obligor approving such Commitment Increase and (C) an opinion of counsel for the Borrower (which may be in-house counsel), in form and substance reasonably satisfactory to the Administrative Agent;

(ii) an assumption agreement from each Assuming Lender, if any, in form and substance reasonably satisfactory to the Borrower and the Administrative Agent (each an “ Assumption Agreement”), duly executed by such Assuming Lender, the Administrative Agent and the Borrower; and

(iii) confirmation from each Increasing Lender of the increase in the amount of its Revolving Credit Commitment in a writing reasonably satisfactory to the Borrower and the Administrative Agent.

On each Increase Date, upon fulfillment of the conditions set forth in the immediately preceding sentence of this Section 2.7(d), the Administrative Agent shall notify the Lenders (including, without limitation, each Assuming Lender) and the Borrower, on or before 1:00 P.M. (Charlotte time), by telecopier, of the occurrence of the Commitment Increase to be effected on such Increase Date and shall record in the Register the relevant information with respect to each Increasing Lender and each Assuming Lender on such date.

(e) On the Increase Date, if any Revolving Credit Loans are then outstanding, the Borrower shall borrow from all or certain of the Lenders and/or (subject to compliance by the Borrower with Section 2.3) prepay Revolving Credit Loans of all or certain of the Lenders such that, after giving effect thereto, the Revolving Credit Loans (including, without limitation, the Interest Periods thereof) shall be held by the Lenders (including for such purposes the Increasing Lenders and the Assuming Lenders) ratably in accordance with their respective Revolving Credit Commitments. On and after each Increase Date, the Revolving Credit Commitment Percentage of each Lender’s participation in Letters of Credit and Revolving Credit Loans from draws under Letters of Credit shall be calculated after giving effect to each such Commitment Increase.

ARTICLE III LETTER OF CREDIT FACILITY

SECTION 3.1. L/C Commitment. Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Lenders set forth in Section 3.4(a), agrees to issue trade and standby letters of credit (“ Letters of Credit”) for the account of the Borrower and its specified Subsidiaries on any Business Day from the Closing Date to but not including the Revolving Credit Termination Date in such form as may be approved from time to time by such Issuing Lender; provided, however, that no Issuing Lender shall issue any Letter of Credit if, after giving effect to such issuance, (a) the L/C Obligations would exceed the L/C Commitment or (b) the L/C Obligations on account of Letters of Credit denominated in an Alternative Currency would exceed the Alternative Currency L/C Commitment or (c) the aggregate principal amount of outstanding Revolving Credit Loans, plus the aggregate principal amount of L/C Obligations and all outstanding Competitive Bid Loans would exceed the Revolving Credit Commitment. Each Letter of Credit shall (i) be denominated in (A) Dollars, if such Letter of Credit is a standby Letter of Credit, or (B) Dollars or an Alternative Currency, if such Letter of Credit is a trade Letter of Credit, (ii) be a trade or standby letter of credit issued to support obligations of the Borrower or any of its Subsidiaries, contingent or otherwise, incurred in the ordinary course of business, (iii) expire on a date no later than ten Business Days prior to the Revolving Credit Termination Date, and (iv) be subject to the Uniform Customs and/or ISP 98, as set forth in the Application or as determined by the applicable Issuing Lender and, to the extent not inconsistent therewith, the laws of the State of New York. No Issuing Lender shall at any time be obligated to issue any Letter of Credit hereunder if such issuance would conflict with, or cause such Issuing Lender or any L/C Participant to exceed any limits imposed by, any Applicable Law. References herein to “ issue” and derivations thereof with respect to Letters of Credit shall also include extensions or modifications of any existing Letters of Credit, unless the context otherwise requires. Each Outstanding Letter of Credit shall be deemed to have been issued under this Agreement.

SECTION 3.2. Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that any Issuing Lender issue a Letter of Credit (or amend, extend or renew an

outstanding Letter of Credit) by delivering to such Issuing Lender at any Issuing Lender’s office at any address mutually acceptable to the Borrower and such Issuing Lender an Application therefor, including, if applicable, the office of such Issuing Lender’s Correspondent, completed to the satisfaction of such Issuing Lender, and such other certificates, documents and other papers and information as such Issuing Lender may reasonably request. Upon receipt of any Application, such Issuing Lender shall process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 3.1 and Article VI hereof, promptly issue the Letter of Credit (or amend, extend or renew the outstanding Letter of Credit) requested thereby (but in no event shall any Issuing Lender be required to issue any Letter of Credit (or amend, extend or renew an outstanding Letter of Credit) earlier than three (3) Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by such Issuing Lender and the Borrower. Within fifteen (15) Business Days after the end of each month, the Administrative Agent shall report to each Lender the average daily outstandings for each day in such month for all Letters of Credit during the previous month.

SECTION 3.3. Fees and Other Charges. (a) The Borrower shall pay to the Administrative Agent, for the account of each Issuing Lender and the L/C Participants, a letter of credit fee (the “ L/C Fee”) (i) with respect to each trade Letter of Credit, in an amount equal to the Applicable Margin for trade Letters of Credit times the average daily undrawn amount of such issued Letter of Credit as reported by the Administrative Agent pursuant to Section 3.2 and (ii) with respect to each standby Letter of Credit, in an amount equal to the Applicable Margin for standby Letters of Credit times the face amount of such Letter of Credit. Such fee shall be payable quarterly in arrears (x) for trade Letters of Credit, within fifteen (15) Business Days after the end of each calendar quarter and on the Revolving Credit Termination Date and (y) for standby Letters of Credit, within fifteen (15) Business Days after the end of each calendar quarter and on the Revolving Credit Termination Date.

(b) In addition to the foregoing commission, the Borrower shall pay the Issuing Lenders an issuance fee of one tenth percent (1/10%) per annum on the face amount of each standby Letter of Credit, payable quarterly in arrears within fifteen (15) Business Days after the end of each calendar quarter of each calendar quarter and on the Revolving Credit Termination Date.

(c) The Administrative Agent shall, promptly following its receipt thereof, distribute to each Issuing Lender and the L/C Participants all fees received by the Administrative Agent in accordance with their respective Revolving Credit Commitment Percentages.

SECTION 3.4. L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce such Issuing Lender to issue Letters of Credit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from such Issuing Lender, on the terms and conditions hereinafter stated, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Revolving Credit Commitment Percentage in such Issuing Lender’s obligations and rights under each Letter of Credit issued hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit for which such Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender’s

address for notices specified herein an amount in Dollars equal to such L/C Participant’s Revolving Credit Commitment Percentage of the Dollar Amount of such draft, or any part thereof, which is not so reimbursed, such payment to be made by the making of a Base Rate Loan in Dollars pursuant to Section 3.5(c) below.

(b) Upon becoming aware of any amount required to be paid by any L/C Participant to any Issuing Lender pursuant to Section 3.4(a) in respect of any unreimbursed portion of any payment made by such Issuing Lender under any Letter of Credit, the Administrative Agent shall notify each L/C Participant of the amount and due date of such required payment and such L/C Participant shall pay to such Issuing Lender the amount specified on the applicable due date. If any such amount is paid to such Issuing Lender after the date such payment is due, such L/C Participant shall pay to such Issuing Lender on demand, in addition to such amount, the product of (i) such amount, times (ii) the daily average Federal Funds Rate as determined by the Administrative Agent during the period from and including the date such payment is due to the date on which such payment is immediately available to such Issuing Lender, times (iii) a fraction the numerator of which is the number of days that elapse during such period and the denominator of which is 360. A certificate of any Issuing Lender with respect to any amounts owing under this Section 3.4(b) shall be conclusive in the absence of manifest error. With respect to payment to any Issuing Lender of the unreimbursed amounts described in this Section 3.4(b), if the L/C Participants receive notice that any such payment is due (A) prior to 1:00 p.m. (Charlotte time) on any Business Day, such payment shall be due that Business Day, and (B) after 1:00 p.m. (Charlotte time) on any Business Day, such payment shall be due on the following Business Day.

(c) Whenever, at any time after any Issuing Lender has made payment under any Letter of Credit and has received from any L/C Participant its Revolving Credit Commitment Percentage of such payment in accordance with this Section 3.4, such Issuing Lender receives any payment related to such Letter of Credit (whether directly from the Borrower or otherwise, or any payment of interest on account thereof), such Issuing Lender will distribute to such L/C Participant its pro rata share thereof in accordance with such L/C Participant’s Revolving Credit Commitment Percentage; provided, that in the event that any such payment received by such Issuing Lender shall be required to be returned by such Issuing Lender, such L/C Participant shall return to such Issuing Lender the portion thereof previously distributed by such Issuing Lender to it.

SECTION 3.5. Reimbursement. (a) Reimbursement by the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date the Administrative Agent notifies the Borrower of the date and amount of a draft paid under any Letter of Credit for the amount of (i) such draft so paid and (ii) any taxes, fees, charges or other costs or expenses incurred by any Issuing Lender in connection with such payment (other than those payable pursuant to Section 3.5(b) below). Each such payment shall be made to any Issuing Lender at its address for notices specified herein (i) in Dollars if such Letter of Credit was denominated in Dollars or (ii) in Dollars or the applicable Alternative Currency, at the option of the Borrower, if such Letter of Credit was denominated in an Alternative Currency, and in each case, in immediately available funds. Interest shall be payable on any and all amounts remaining unpaid by the Borrower under this Article III from the day immediately following the date such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the rate which would be payable on any outstanding Base Rate Loans which were then overdue.

(b) Exchange Indemnification and Increased Costs. The Borrower shall, upon demand from any Issuing Lender or L/C Participant, pay to such Issuing Lender or L/C

SECTION 3.6. Obligations Absolute. The Borrower’s obligations under this Article III (including without limitation the Reimbursement Obligation) shall be absolute and unconditional under any and all circumstances and irrespective of any set-off, counterclaim or defense to payment which the Borrower may have or have had against any Issuing Lender or any beneficiary of a Letter of Credit. The Borrower also agrees with each Issuing Lender that no Issuing Lender shall be responsible for, and the Borrower’s Reimbursement Obligation under Section 3.5 shall not be affected by, among other things, the validity or genuineness of documents or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among the Borrower and any beneficiary of any Letter of Credit or any other party to which such Letter of Credit may be transferred or any claims whatsoever of the Borrower against any beneficiary of such Letter of Credit or any such transferee. No Issuing Lender shall be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except for errors or omissions caused by such Issuing Lender’s gross negligence or willful misconduct. The Borrower agrees that any action taken or omitted by any Issuing Lender under or in connection with any Letter of Credit or the related drafts or documents, if done in the absence of gross negligence or willful misconduct and in accordance with the standards of care specified in the Uniform Customs and/or ISP 98, as set forth in the Application or as determined by the Issuing Lender and, to the extent not inconsistent therewith, the laws of the State of New York, shall be binding on the Borrower and shall not result in any liability of any Issuing Lender to the Borrower. The responsibility of each Issuing Lender to the Borrower in connection with any draft presented for payment under any Letter of Credit shall, in addition to any payment obligation expressly provided for in such Letter of Credit, be limited to determining that the documents (including each draft) delivered under such Letter of Credit in connection with such presentment are in conformity with such Letter of Credit.

SECTION 3.7 Effect of Application. To the extent that any provision of any Application related to any Letter of Credit is inconsistent with the provisions of this Article III, the provisions of this Article III shall apply.

ARTICLE IV COMPETITIVE BID FACILITY

SECTION 4.1. Bidding Procedure. Each Lender severally agrees that the Borrower may make Competitive Bid Borrowings under this Section 4.1 from time to time on any Business Day during the period from the Closing Date until the date occurring 30 days prior to the Revolving Credit Termination Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the aggregate Dollar Amount of all Loans and all L/C Obligations then outstanding shall not exceed the aggregate amount of the Revolving Credit Commitments of the Lenders.

(a) The Borrower may request a Competitive Bid Borrowing under this Section 4.1 by delivering to the Administrative Agent, by telecopier or telex, a notice of a Competitive Bid Borrowing (a “Notice of Competitive Bid Borrowing”), in substantially the form of Exhibit B-2 hereto, specifying therein the requested (i) date of such proposed Competitive Bid Borrowing, (ii) aggregate amount of such proposed Competitive Bid Borrowing, (iii) interest rate basis and day count convention to be offered by the Lenders, (iv) currency of such proposed Competitive Bid Borrowing, (v) in the case of a Competitive Bid Borrowing consisting of Floating Rate Loans, Interest Period, or in the case of a Competitive Bid Borrowing consisting of Fixed Rate Loans, maturity date for repayment of each Fixed Rate Loan to be made as part of such Competitive Bid Borrowing (which maturity date may not be earlier than the date occurring seven days

after the date of such Competitive Bid Borrowing or later than the earlier of (A) 365 days after the date of such Competitive Bid Borrowing and (B) the Revolving Credit Termination Date), (vi) interest payment date or dates relating thereto, (vii) location of the Borrower’s account to which funds are to be advanced and (viii) other terms (if any) to be applicable to such Competitive Bid Borrowing, not later than (1) 10:00 A.M. (Charlotte time) at least two Business Days prior to the date of the proposed Competitive Bid Borrowing, if the Borrower shall specify in the Notice of Competitive Bid Borrowing that the rates of interest to be offered by the Lenders shall be fixed rates per annum (the Loans comprising any such Competitive Bid Borrowing being referred to herein as “Fixed Rate Loans”) and that the Loans comprising such proposed Competitive Bid Borrowing shall be denominated in Dollars, (2) 10:00 A.M. (Charlotte time) at least four Business Days prior to the date of the proposed Competitive Bid Borrowing, if the Borrower shall specify in the Notice of Competitive Bid Borrowing that the Loans comprising such Competitive Bid Borrowing shall be Floating Rate Loans denominated in Dollars, (3) 10:00 A.M. (London time) at least two Business Days prior to the date of the proposed Competitive Bid Borrowing, if the Borrower shall specify in the Notice of Competitive Bid Borrowing that the Loans comprising such proposed Competitive Bid Borrowing shall be Fixed Rate Loans denominated in any Alternative Currency and (4) 10:00 A.M. (London time) at least four Business Days prior to the date of the proposed Competitive Bid Borrowing, if the Borrower shall instead specify in the Notice of Competitive Bid Borrowing that the Loans comprising such Competitive Bid Borrowing shall be Floating Rate Loans denominated in any Alternative Currency. Each Notice of Competitive Bid Borrowing shall be irrevocable and binding on the Borrower. The Administrative Agent shall in turn promptly notify each Lender of each request for a Competitive Bid Borrowing received by it from the Borrower by sending such Lender a copy of the related Notice of Competitive Bid Borrowing.

(b) Each Lender may, if, in its sole discretion, it elects to do so, irrevocably offer to make one or more Competitive Bid Loans to the Borrower as part of such proposed Competitive Bid Borrowing at a rate or rates of interest specified by such Lender in its sole discretion, by notifying the Administrative Agent (which shall give prompt notice thereof to the Borrower), (i) before 9:30 A.M. (Charlotte time) on the date of such proposed Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of Fixed Rate Loans denominated in Dollars, (ii) before 10:00 A.M. (Charlotte time) three Business Days before the date of such proposed Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of Floating Rate Loans, denominated in Dollars, (iii) before 12:00 noon (London time) on the Business Day prior to the date of such proposed Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of Fixed Rate Loans denominated in any Alternative Currency and (iv) before 12:00 noon (London time) on the third Business Day prior to the date of such proposed Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of Floating Rate Loans denominated in any Alternative Currency, of the minimum amount and maximum amount of each Competitive Bid Loan which such Lender would be willing to make as part of such proposed Competitive Bid Borrowing (which Dollar Amounts of such proposed Competitive Bid may exceed such Lender’s Revolving Credit Commitment), the rate or rates of interest therefor and such Lender’s Applicable Lending Office with respect to such Competitive Bid Loan; provided that if the Administrative Agent in its capacity as a Lender shall, in its sole discretion, elect to make any such offer, it shall notify the Borrower of such offer at least 30 minutes before the time and on the date on which notice of such election is to be given to the Administrative Agent by the other Lenders. If

any Lender shall elect not to make such an offer, such Lender shall so notify the Administrative Agent before 10:00 A.M. (Charlotte time) on the date on which notice of such election is to be given to the Administrative Agent by the other Lenders, and such Lender shall not be obligated to, and shall not, make any Competitive Bid Loan as part of such Competitive Bid Borrowing; provided that the failure by any Lender to give such notice shall not cause such Lender to be obligated to make any Competitive Bid Loan as part of such proposed Competitive Bid Borrowing. The Administrative Agent shall promptly notify the Borrower by telecopy of each such offer made by a Lender, including all information required to be provided by the Lender in such offer by this Section 4.1(b) and the identity of the Lender making such offer

(c) The Borrower shall, in turn, (i) before 10:30 A.M. (Charlotte time) on the date of such proposed Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of Fixed Rate Loans denominated in Dollars, (ii) before 11:00 A.M. (Charlotte time) three Business Days before the date of such proposed Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of Floating Rate Loans denominated in Dollars, (iii) before 3:00 P.M. (London time) on the Business Day prior to the date of such proposed Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of Fixed Rate Loans denominated in any Alternative Currency and (iv) before 3:00 P.M. (London time) on the third Business Day prior to the date of such Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of Floating Rate Loans denominated in any Alternative Currency, either:

(x) cancel such Competitive Bid Borrowing by giving the Administrative Agent notice to that effect, or

(y) accept one or more of the offers made by any Lender or Lenders pursuant to paragraph (b) above, in its sole discretion, by giving notice to the Administrative Agent of the amount of each Competitive Bid Loan (which amount shall be equal to or greater than the minimum amount, and equal to or less than the maximum amount, notified to the Borrower by the Administrative Agent on behalf of such Lender for such Competitive Bid Loan pursuant to paragraph (b) above) to be made by each Lender as part of such Competitive Bid Borrowing, and reject any remaining offers made by Lenders pursuant to paragraph (b) above by giving the Administrative Agent notice to that effect. The Borrower shall accept the offers made by any Lender or Lenders to make Competitive Bid Loans in order of the lowest to the highest rates of interest offered by such Lenders. If two or more Lenders have offered the same interest rate, the amount to be borrowed at such interest rate will be allocated among such Lenders in proportion to the amount that each such Lender offered at such interest rate (rounded to integral multiples of $1,000,000 in a manner satisfactory to the Borrower).

(d) If the Borrower notifies the Administrative Agent that such Competitive Bid Borrowing is cancelled pursuant to paragraph (c)(x) above, the Administrative Agent shall give prompt notice thereof to the Lenders and such Competitive Bid Borrowing shall not be made.

(e) If the Borrower accepts one or more of the offers made by any Lender or Lenders pursuant to paragraph (c)(y) above, the Administrative Agent shall in turn

promptly notify (i) each Lender that has made an offer as described in paragraph (b) above, of the date and aggregate amount of such Competitive Bid Borrowing and whether or not any offer or offers made by such Lender pursuant to paragraph (b) above have been accepted by the Borrower, (ii) each Lender that is to make a Competitive Bid Loan as part of such Competitive Bid Borrowing, of the amount of each Competitive Bid Loan to be made by such Lender as part of such Competitive Bid Borrowing, and (iii) each Lender that is to make a Competitive Bid Loan as part of such Competitive Bid Borrowing, upon receipt, that the Administrative Agent has received forms of documents appearing to fulfill the conditions set forth in Section 6.4. Each Lender that is to make a Competitive Bid Loan as part of such Competitive Bid Borrowing shall, before 12:00 noon (Charlotte time), in the case of Competitive Bid Loans to be denominated in Dollars or 11:00 A.M. (London time), in the case of Competitive Bid Loans to be denominated in any Alternative Currency, on the date of such Competitive Bid Borrowing specified in the notice received from the Administrative Agent pursuant to clause (i) of the preceding sentence or any later time when such Lender shall have received notice from the Administrative Agent pursuant to clause (iii) of the preceding sentence, make available for the account of its Applicable Lending Office to the Administrative Agent (x) in the case of a Competitive Bid Borrowing denominated in Dollars, at its address referred to in Section 14.1(c), in same day funds, such Lender’s portion of such Competitive Bid Borrowing in Dollars and (y) in the case of a Competitive Bid Borrowing in an Alternative Currency, at the payment office for such Alternative Currency as shall have been notified by the Administrative Agent to the Lenders prior thereto, in same day funds, such Lender’s portion of such Competitive Bid Borrowing in such Alternative Currency. Upon fulfillment of the conditions set forth in Section 6.4 and promptly after receipt by the Administrative Agent of such funds, the Administrative Agent will make such funds available to the Borrower at the location specified by the Borrower in its Notice of Competitive Bid Borrowing. Promptly after each Competitive Bid Borrowing, the Administrative Agent will notify each Lender of the amount and tenor of the Competitive Bid Borrowing.

(f) If the Borrower notifies the Administrative Agent that it accepts one or more of the offers made by any Lender or Lenders pursuant to paragraph (c)(y) above, such notice of acceptance shall be irrevocable and binding on the Borrower.

SECTION 4.2. Minimum Amounts. Each Competitive Bid Borrowing shall be in an aggregate Dollar Amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and, following the making of each Competitive Bid Borrowing, the Borrower shall be in compliance with the limitation set forth in the proviso to the first sentence of Section 4.1 above.

SECTION 4.3. Bidding Availability. Within the limits and on the conditions set forth in this Article IV, the Borrower may from time to time borrow under this Article IV, repay or prepay pursuant to Section 4.4 below, and reborrow under this Article IV, provided that a Competitive Bid Borrowing shall not be made within three Business Days of the date of any other Competitive Bid Borrowing.

SECTION 4.4. Repayment of Competitive Bid Loans. The Borrower shall repay to the Administrative Agent for the account of each Lender that has made a Competitive Bid Loan, on the last day of its Interest Period (in the case of Floating Rate Loans) or the maturity date (in the case of Fixed Rate Loans) of each Competitive Bid Loan (such Interest Period or maturity date being that specified by the Borrower for repayment of such Competitive Bid Loan in the related Notice of Competitive Bid Borrowing delivered pursuant to Section 4.1 (a) above and provided in

the Competitive Bid Note evidencing such Competitive Bid Loan), the then unpaid principal amount of such Competitive Bid Loan. The Borrower shall have no right to prepay any principal amount of any Competitive Bid Loan unless, and then only on the terms, specified by the Borrower for such Competitive Bid Loan in the related Notice of Competitive Bid Borrowing delivered pursuant to Section 4.1 (a) above and set forth in the Competitive Bid Note evidencing such Competitive Bid Loan.

SECTION 4.5. Interest on Competitive Bid Loans. The Borrower shall pay interest on the unpaid principal amount of each Competitive Bid Loan from the date of such Competitive Bid Loan to the date the principal amount of such Competitive Bid Loan is repaid in full, at the rate of interest for such Competitive Bid Loan specified by the Lender making such Competitive Bid Loan in its notice with respect thereto delivered pursuant to Section 4.1 (b) above, payable on the interest payment date or dates specified by the Borrower for such Competitive Bid Loan in the related Notice of Competitive Bid Borrowing delivered pursuant to Section 4.1 (a) above, as provided in the Competitive Bid Note evidencing such Competitive Bid Loan. Upon the occurrence and during the continuance of an Event of Default (i) each Competitive Bid Loan denominated in an Alternative Currency shall be exchanged for a new Competitive Bid Loan for an equivalent amount of Dollars but with otherwise identical terms and conditions to the Competitive Bid Loan being exchanged and (ii) and the Borrower shall pay interest on the amount of unpaid principal of and interest on each Competitive Bid Loan owing to a Lender, payable in arrears on the date or dates interest is payable thereon, at a rate per annum equal at all times to 2% per annum above the rate per annum otherwise required to be paid on such Competitive Bid Loan under the terms of the Competitive Bid Note evidencing such Competitive Bid Loan unless otherwise agreed in such Competitive Bid Note. Computations in respect of Competitive Bid Loans shall be made by the Administrative Agent as specified in the applicable Notice of Competitive Bid Borrowing (or, in each case of Loans denominated in Alternative Currencies where market practice differs, in accordance with market practice), in each case for the actual number of days elapsed.

SECTION 4.6. Competitive Bid Notes. The indebtedness of the Borrower resulting from each Competitive Bid Loan made to the Borrower as part of a Competitive Bid Borrowing shall be evidenced by a separate Competitive Bid Note of the Borrower payable to the order of the Lender making such Competitive Bid Loan.

ARTICLE V GENERAL LOAN PROVISIONS

SECTION 5.1. Interest. (a) Interest Rate Options. Subject to the provisions of this Section 5.1, at the election of the Borrower, the aggregate principal balance of any Revolving Credit Loans shall bear interest at (i) the Base Rate plus the Applicable Margin or (ii) the LIBOR Rate plus the Applicable Margin; provided that LIBOR Rate Loans shall not be available until three (3) Business Days after the Closing Date unless the Borrower executes and delivers an indemnity in favor of the Administrative Agent and the Lenders in form and substance satisfactory to them. The Borrower shall select the rate of interest and Interest Period, if any, applicable to any Revolving Credit Loan at the time a Notice of Revolving Credit Borrowing is given pursuant to Section 2.2 or at the time a Notice of Conversion/Continuation is given pursuant to Section 5.2. Each Revolving Credit Loan or portion thereof bearing interest based on the Base Rate shall be a “Base Rate Loan”, and each Revolving Credit Loan or portion thereof bearing interest based on the LIBOR Rate shall be a “LIBOR Rate Loan.” Any Revolving Credit Loan or any portion thereof as to which the Borrower has not duly specified an interest rate as provided herein shall be deemed a Base Rate Loan.

(b) Interest Periods. In connection with each LIBOR Rate Loan and each Floating Rate Loan, the Borrower, by giving notice at the times described in Section 5.1(a) (or, in the case of a Floating Rate Loan, in the applicable Notice of Competitive Bid Borrowing), shall elect an interest period (each, an “Interest Period”) to be applicable to such Loan, which Interest Period shall be a period of one (1), two (2), three (3), or six (6) months (or nine (9) or twelve (12) months or any other period if available from all Lenders) with respect to each LIBOR Rate (or, if applicable to a Floating Rate Loan, each EURIBO Rate); provided that:

(i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR Rate Loan or the date of advance of any Floating Rate Loan and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the next preceding Interest Period expires;

(ii) if any Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided, that if any Interest Period would otherwise expire on a day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day;

(iii) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the relevant calendar month at the end of such Interest Period;

(iv) no Interest Period shall extend beyond the Revolving Credit Termination Date; and

(v) there shall be no more than six (6) Interest Periods for Revolving Credit Loans in effect at any time.

(c) Default Rate. Subject to Section 12.3, at the discretion of the Administrative Agent and Required Lenders, upon the occurrence and during the continuance of an Event of Default, (i) the Borrower shall no longer have the option to request LIBOR Rate Loans, (ii) all outstanding LIBOR Rate Loans shall bear interest at a rate per annum two percent (2%) in excess of the rate then applicable to LIBOR Rate Loans, as applicable, until the end of the applicable Interest Period and thereafter at a rate equal to two percent (2%) in excess of the rate then applicable to Base Rate Loans, and (iii) all outstanding Base Rate Loans shall bear interest at a rate per annum equal to two percent (2%) in excess of the rate then applicable to Base Rate Loans. Interest shall continue to accrue on the amount of Revolving Credit Loans outstanding after the filing by or against the Borrower of any petition seeking any relief in bankruptcy or under any act or law pertaining to insolvency or debtor relief, whether state, federal or foreign.

(d) Interest Payment and Computation. Interest on each Base Rate Loan shall be payable in arrears on the last Business Day of each calendar quarter commencing June 30, 2005; and interest on each LIBOR Rate Loan shall be payable on the last day of each Interest Period applicable thereto, and if such Interest Period exceeds three (3) months, at the end of each three (3) month interval during such Interest Period. Interest on LIBOR Rate Loans and all fees payable hereunder shall be computed on the basis of a 360-day year and assessed for the actual number of days elapsed and interest on Base Rate Loans shall be computed on the basis of a 365/66-day year and assessed for the actual number of days elapsed.

(e) Maximum Rate. In no contingency or event whatsoever shall the aggregate of all amounts deemed interest hereunder or under any of the Loan Documents charged or collected pursuant to the terms of this Agreement or pursuant to any other Loan Document exceed the highest rate permissible under any Applicable Law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such a court determines that the Lenders have charged or received interest hereunder in excess of the highest applicable rate, the rate in effect hereunder shall automatically be reduced to the maximum rate permitted by Applicable Law and the Lenders shall at the Administrative Agent’s option (i) promptly refund to the Borrower any interest received by Lenders in excess of the maximum lawful rate or (ii) shall apply such excess to the principal balance of the Obligations. It is the intent hereof that the Borrower not pay or contract to pay, and that neither the Administrative Agent nor any Lender receive or contract to receive, directly or indirectly in any manner whatsoever, interest in excess of that which may be paid by the Borrower under Applicable Law.

SECTION 5.2. Notice and Manner of Conversion or Continuation of Revolving Credit Loans. Provided that no Event of Default has occurred and is then continuing, the Borrower shall have the option (a) to convert all or any portion of its outstanding Base Rate Loans in a principal amount equal to $5,000,000 or any whole multiple of $1,000,000 in excess thereof into one or more LIBOR Rate Loans and (b), (i) to convert all or any part of its outstanding LIBOR Rate Loans in a principal amount equal to $1,000,000 or a whole multiple of $250,000 in excess thereof into Base Rate Loans or (ii) to continue such LIBOR Rate Loans as LIBOR Rate Loans for an additional Interest Period; provided that if any conversion or continuation is made prior to the expiration of any Interest Period, the Borrower shall pay any amount required to be paid pursuant to Section 5.10 hereof. Whenever the Borrower desires to convert or continue Revolving Credit Loans as provided above, the Borrower shall give the Administrative Agent irrevocable prior written notice in the form attached as Exhibit E (a “Notice of Conversion/Continuation”) not later than 11:00 a.m. (Charlotte time) three (3) Business Days before the day on which a proposed conversion or continuation of such Revolving Credit Loan is to be effective (except in the case of a conversion of a LIBOR Rate Loan to a Base Rate Loan in which case same day notice by the Borrower shall be sufficient) specifying (A) the Revolving Credit Loans to be converted or continued, and, in the case of any LIBOR Rate Loan to be converted or continued, the last day of the Interest Period therefor, (B) the effective date of such conversion or continuation (which shall be a Business Day), (C) the principal amount of such Revolving Credit Loans to be converted or continued, and (D) the Interest Period to be applicable to such converted or continued LIBOR Rate Loan. The Administrative Agent shall promptly notify the Lenders of such Notice of Conversion/Continuation.

SECTION 5.3. Fees. (a) Facility Fees. The Borrower shall pay to the Administrative Agent, for the account of the Lenders, a non-refundable facility fee (the “Facility Fee”) at a rate per annum equal to the Applicable Margin on the full amount of the Revolving Credit Commitment, regardless of usage. The Facility Fee shall be payable in arrears on the last Business Day of each calendar quarter for the period commencing on the Closing Date and ending on the Revolving Credit Termination Date. The Facility Fee shall be distributed by the Administrative Agent to the Lenders pro rata in accordance with the Lenders’ respective Revolving Credit Commitment Percentages.

(b) Administrative Agent’s and Other Fees. In order to compensate the Administrative Agent for its obligations hereunder, the Borrower agrees to pay to the Administrative Agent, for its account, the fees set forth in the separate fee letter agreement executed by the Borrower and the Administrative Agent dated April 26, 2005.

SECTION 5.4. Manner of Payment. Each payment by the Borrower on account of the principal of or interest on the Revolving Credit Loans or of any fee, commission or other amounts (including the Reimbursement Obligation) payable to the Lenders under this Agreement or any other Loan Document shall be made not later than 1:00 p.m. (Charlotte time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office for the account of the Lenders (other than as set forth below) pro rata in accordance with their respective Revolving Credit Commitment Percentages (except as specified below), in Dollars, in immediately available funds and shall be made without any set-off, counterclaim or deduction whatsoever. Any payment received after such time but before 2:00 p.m. (Charlotte time) on such day shall be deemed a payment on such date for the purposes of Section 12.1, but for all other purposes shall be deemed to have been made on the next succeeding Business Day. Any payment received after 2:00 p.m. (Charlotte time) shall be deemed to have been made on the next succeeding Business Day for all purposes. Upon receipt by the Administrative Agent of each such payment, the Administrative Agent shall distribute to each Lender at its address for notices set forth herein its pro rata share of such payment in accordance with such Lender’s Revolving Credit Commitment Percentage (except as specified below), and shall wire advice of the amount of such credit to each Lender. Each payment to the Administrative Agent of the L/C Participants’ commissions shall be made in like manner, but for the account of the L/C Participants. Each payment to the Administrative Agent of Administrative Agent’s fees or expenses shall be made for the account of the Administrative Agent and any amount payable to any Lender under Article IV or Section 5.9, 5.10, 5.11, 5.12 or 14.2 shall be paid to the Administrative Agent for the account of the applicable Lender. Subject to Section 5.1(b)(ii), if any payment under this Agreement or any other Loan Document shall be specified to be made upon a day which is not a Business Day, it shall be made on the next succeeding day which is a Business Day and such extension of time shall in such case be included in computing any interest if payable along with such payment.

SECTION 5.5. Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 12.2, all payments received by the Lenders upon the Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Administrative Agent’s fees then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest hereunder or under any other Loan Document, and Reimbursement Obligation (pro rata in accordance with all such amounts due), then to the principal amount hereunder or under any other Loan Document, Reimbursement Obligation and any termination payments due in respect of a Hedging Agreement with any Lender or Affiliate of a Lender (which Hedging Agreement is permitted hereunder) (pro rata in accordance with all such amounts due) and then to the cash collateral account described in Section 12.2(b) hereof to the extent of any L/C Obligations then outstanding, in that order.

SECTION 5.6. Adjustments. If any Lender (a “Benefited Lender”) shall at any time receive any payment of all or part of the Obligations (other than in respect of Competitive Bid Loans) owing to it, or interest thereon, or if any Lender shall at any time receive any collateral in respect to the Obligations owing to it (whether voluntarily or involuntarily, by set-off or otherwise) in a greater proportion than any such payment to and collateral received by any other Lender, if any, in respect of the Obligations (other than in respect of Competitive Bid Loans) owing to such other Lender, or interest thereon, such Benefited Lender shall purchase for cash from the other Lenders such portion of each such other Lender’s Extensions of Credit Obligations (other than Competitive Bid Loans), or shall provide such other Lenders with the benefits of any such

collateral, or the proceeds thereof, as shall be necessary to cause such Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, that if all or any portion of such excess payment or benefits is thereafter recovered from such Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender’s Extensions of Credit may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.

SECTION 5.7. Nature of Obligations of Lenders Regarding Extensions of Credit; Assumption by the Administrative Agent. The obligations of the Lenders under this Agreement to make the Revolving Credit Loans and issue or participate in Letters of Credit are several and are not joint or joint and several. Unless the Administrative Agent shall have received notice from a Lender prior to a proposed borrowing date that such Lender will not make available to the Administrative Agent such Lender’s ratable portion of the amount to be borrowed on such date (which notice shall not release such Lender of its obligations hereunder), the Administrative Agent may assume that such Lender has made such portion available to the Administrative Agent on the proposed borrowing date in accordance with Sections 2.2(b), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If such amount is made available to the Administrative Agent on a date after such borrowing date, such Lender shall pay to the Administrative Agent on demand an amount, until paid, equal to the product of (a) the amount not made available by such Lender in accordance with the terms hereof, times (b) the daily average Federal Funds Rate during such period as determined by the Administrative Agent, times (c) a fraction the numerator of which is the number of days that elapse from and including such borrowing date to the date on which such amount not made available by such Lender in accordance with the terms hereof shall have become immediately available to the Administrative Agent and the denominator of which is 360. A certificate of the Administrative Agent with respect to any amounts owing under this Section 5.7 shall be conclusive, absent manifest error. If such Lender’s Revolving Credit Commitment Percentage of such borrowing is not made available to the Administrative Agent by such Lender within three (3) Business Days of such borrowing date, the Administrative Agent shall be entitled to recover such amount made available by the Administrative Agent with interest thereon at the rate per annum applicable to such borrowing, on demand, from the Borrower. The failure of any Lender to make available its Revolving Credit Commitment Percentage of any Revolving Credit Loan requested by the Borrower shall not relieve it or any other Lender of its obligation hereunder to make its Revolving Credit Commitment Percentage of such Revolving Credit Loan available on the borrowing date, but no Lender shall be responsible for the failure of any other Lender to make its Revolving Credit Commitment Percentage of such Revolving Credit Loan available on the borrowing date.

SECTION 5.8. Joint and Several Liability of the Credit Parties. (a) Each of the Credit Parties is jointly and severally liable not merely as a surety but as a co-debtor for each and every Obligation. Each of the Credit Parties is accepting joint and several liability hereunder in consideration of the financial accommodations to be provided by the Lenders under this Agreement, for the mutual benefit, directly or indirectly, of each of the Credit Parties and in consideration of the undertakings of each of the Credit Parties to accept joint and several liability for the Obligations.

(b) Except as otherwise expressly provided herein, each Credit Party hereby waives promptness, diligence, presentment, demand, protest, notice of acceptance of its joint and several liability, notice of any and all advances of the Revolving Credit Loans and Letters of

Credit made under this Agreement and the other Loan Documents, notice of occurrence of any Default or Event of Default, or of any demand for any payment under this Agreement and notice of any action at any time taken or omitted by the Administrative Agent or any Lender under or in respect of any of the Obligations hereunder. Each Credit Party hereby waives all defenses which may be available by virtue of any valuation, stay, moratorium law or other similar law now or hereafter in effect, any right to require the marshaling of assets of any of the Credit Parties and any other entity or person primarily or secondarily liable with respect to any of the Obligations, and all suretyship defenses generally. Each Credit Party hereby assents to, and waives notice of, any extension or postponement of the time for the payment, or place or manner for payment, compromise, refinancing, consolidation or renewals of any of the Obligations hereunder, the acceptance of any partial payment thereon, any waiver, consent or other action or acquiescence by the Administrative Agent or any Lender at any time or times in respect of any default by any Credit Party in the performance or satisfaction of any term, covenant, condition or provision of this Agreement and the other Loan Documents, any and all other indulgences whatsoever by the Administrative Agent or any Lender in respect of any of the Obligations, and the taking, addition, substitution or release, in whole or in part, at any time or times, of any security for any of such Obligations or the addition, substitution or release, in whole or in part, of any Credit Party or any other entity or person primarily or secondarily liable for any Obligation. If for any reason any of the Credit Parties has no legal existence or is under no legal obligation to discharge any of the Obligations, or if any of the Obligations have become irrecoverable from any of the Credit Parties by reason of such Credit Party’s insolvency, bankruptcy or reorganization or by other operation of law or for any reason, this Agreement and the other Loan Documents shall nevertheless be binding on each of the other Credit Parties to the same extent as if such Credit Party at all times had been the sole obligor on such Obligations. The Obligations of each Credit Party under this Section 5.8 shall not be diminished or rendered unenforceable by any winding up, reorganization, arrangement, liquidation, reconstruction or similar proceeding with respect to any reconstruction or similar proceeding with respect to any Credit Party, the Administrative Agent or any Lender.

(c) If at any time, any payment, or any part thereof, made in respect of any of the Obligations, is rescinded or must otherwise be restored or returned by the Administrative Agent or any Lender upon the insolvency, bankruptcy or reorganization of any of the Credit Parties, or otherwise, the provisions of this Section 5.8 will forthwith be reinstated in effect as though such payment had not been made.

(d) Until the payment and performance in full of all the Obligations, none of the Credit Parties shall exercise and each hereby waives any rights against the other Credit Parties as a result of payment by such Credit Party hereunder, by way of subrogation, reimbursement, restitution, contribution or otherwise, and none of the Credit Parties will prove any claim in competition with the Administrative Agent or any Lender in respect of any payment hereunder in bankruptcy, insolvency, or reorganization proceedings of any nature; none of the Credit Parties will claim any set-off, recoupment or counterclaim against any of the other Credit Parties in respect of any liability of one Credit Party to another Credit Party. Each of the Credit Parties hereby agrees that the payment of any amounts due with respect to any indebtedness owing by any of the Credit Party to any other Credit Party is hereby subordinated to the prior payment in full in cash of the Obligations. Each Credit Party agrees that, after the occurrence and during the continuance of any Default or Event of Default hereunder, none of the Credit Parties will demand, sue for or otherwise attempt to collect any indebtedness of any other Credit Party to such Credit Party until all of the Obligations of the Credit Parties hereunder shall have been paid in full in cash. If, notwithstanding the foregoing sentence, any Credit Party shall collect, enforce or receive any amounts in respect of such indebtedness in violation of the foregoing sentence while any Obligations of the Credit Parties are still outstanding, such amounts shall be collected,

enforced and received by such Credit Party as trustee for the Administrative Agent and the Lenders and be paid over to the Administrative Agent on account of the Obligations without affecting in any manner the liability of such Credit Party under the other provisions hereof.

SECTION 5.9. Changed Circumstances. (a) Circumstances Affecting LIBOR Rate Availability. If with respect to any Interest Period: (i) the Administrative Agent or any Lender (after consultation with Administrative Agent) shall determine that, by reason of circumstances affecting the foreign exchange and interbank markets generally, deposits in the applicable currency, in the applicable amounts are not being quoted via Moneyline Telerate Markets Screen 3750 (or on any successor or substitute page of such service, or any successor to or substitute for such service, providing rate quotations comparable to those currently provided on such page of such service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to deposits of the applicable currency in the London interbank market) or offered to the Administrative Agent or such Lender for such Interest Period; or (ii) the Required Lenders reasonably determine (which determination shall be conclusive) and notify the Administrative Agent that the LIBOR Rate will not adequately and fairly reflect the cost to the Required Lenders of funding LIBOR Rate Loans or Floating Rate Loans for such Interest Period; then the Administrative Agent shall forthwith give notice thereof to the Borrower. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, the obligation of the Lenders to make LIBOR Rate Loans or Floating Rate Loans and the right of the Borrower to convert any Revolving Credit Loan to or continue any Loan as a LIBOR Rate Loan shall be suspended, and the Borrower shall repay in full (or cause to be repaid in full) the then outstanding principal amount of each such LIBOR Rate Loan or Floating Rate Loan together with accrued interest thereon, on the last day of the then current Interest Period applicable to such Loan or convert the then outstanding principal amount of each such LIBOR Rate Loan to a Base Rate Loan as of the last day of such Interest Period.

(b) Laws Affecting LIBOR Rate or Floating Rate Availability. If, after the date hereof, the introduction of, or any change in, any Applicable Law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender (or any of their respective Lending Offices) with any request or directive (whether or not having the force of law) issued after the date hereof of any such Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective Lending Offices) to honor its obligations hereunder to make or maintain any LIBOR Rate Loan or Floating Rate Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, (i) the obligations of the Lenders to make LIBOR Rate Loans or Floating Rate Loans and the right of the Borrower to convert any Revolving Credit Loan or continue any Revolving Credit Loan as a LIBOR Rate Loan shall be suspended and thereafter the Borrower may select only Base Rate Loans hereunder, and (ii) if any of the Lenders may not lawfully continue to maintain a LIBOR Rate Loan or Floating Rate Loan to the end of the then current Interest Period applicable thereto, the applicable Loan shall immediately be converted to a Base Rate Loan or a Loan that bears interest at the Base Rate for the remainder of such Interest Period.

(c) Increased Costs. If, after the date hereof, the introduction of, or any change in, any Applicable Law, or in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any of the Lenders (or any of their respective Lending Offices) with

any request or directive (whether or not having the force of law) issued after the date hereof of such Authority, central bank or comparable agency:

(i) shall subject any of the Lenders (or any of their respective Lending Offices) to any tax, duty or other charge with respect to any Revolving Credit Loan, Letter of Credit or Application or shall change the basis of taxation of payments to any of the Lenders (or any of their respective Lending Offices) of the principal of or interest on any Revolving Credit Loan, Letter of Credit or Application or any other amounts due under this Agreement in respect thereof (except for changes in the rate of tax on the overall net income of any of the Lenders or any of their respective Lending Offices imposed by the jurisdiction in which such Lender is organized or is or should be qualified to do business or such Lending Office is located); or

(ii) shall impose, modify or deem applicable any reserve (including, without limitation, any imposed by the Board of Governors of the Federal Reserve System), special deposit, insurance or capital or similar requirement against assets of, deposits with or for the account of, or credit extended by any of the Lenders (or any of their respective Lending Offices) or shall impose on any of the Lenders (or any of their respective Lending Offices) or the foreign exchange and interbank markets any other condition affecting any Revolving Credit Loan; and the result of any of the foregoing is to increase the costs to any of the Lenders of maintaining any LIBOR Rate Loan or Floating Rate Loan or issuing or participating in Letters of Credit or to reduce the yield or amount of any sum received or receivable by any of the Lenders under this Agreement or under any other Loan Document in respect of a LIBOR Rate Loan or Floating Rate Loan or Letter of Credit or Application, then such Lender may promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify the Borrower of such fact and demand compensation therefor and, within fifteen (15) days after such notice by the Administrative Agent, the Borrower shall pay to such Lender such additional amount or amounts as will compensate such Lender or Lenders for such increased cost or reduction. The Administrative Agent and the applicable Lender will promptly notify the Borrower of any event of which it has knowledge which will entitle such Lender to compensation pursuant to this Section 5.9(c); provided, that the Administrative Agent shall incur no liability whatsoever to the Lenders or the Borrower in the event it fails to do so. The amount of such compensation shall be determined, in the applicable Lender’s reasonable discretion, based upon the assumption that such Lender funded its Revolving Credit Commitment Percentage of the LIBOR Rate Loans or Floating Rate Loans in the London interbank market and using any reasonable attribution or averaging methods which such Lender deems appropriate and practical; provided that no compensation shall be payable pursuant to the above if the applicable Lender fails to demand compensation for such increased costs within one-hundred eighty (180) days following the date on which such Lender has actual knowledge of the event resulting in such increase. A certificate of such Lender setting forth in reasonable detail the basis for determining such amount or amounts necessary to compensate such Lender shall be forwarded to the Borrower through the Administrative Agent and shall be conclusively presumed to be correct save for manifest error.

(d) Mitigation Obligations; Replacement of Lenders.

(i) If any Lender requests compensation under this Section 5.9, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 5.12, then such Lender shall use reasonable

efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (A) would eliminate or reduce amounts payable pursuant to this Section 5.9 or Section 5.12, as the case may be, in the future and (B) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.

(ii) If any Lender requests compensation under this Section 5.9, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 5.12, or if any Lender defaults in its obligation to fund Loans hereunder, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 14.10), all its interests, rights and obligations under this Agreement to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (A) the Borrower shall have received the prior written consent of the Administrative Agent (and, if a participation in a Letter of Credit is being assigned, the Issuing Lender that issued such Letter of Credit), which consent shall not unreasonably be withheld, (B) such Lender shall have received payment of an amount equal to the outstanding principal of its Revolving Credit Loans and participations in Letters of Credit, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts) and (C) in the case of any such assignment resulting from a claim for compensation under this Section 5.9, such assignment will result in a reduction in such compensation or payments. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply.

SECTION 5.10. Indemnity. The Borrower hereby indemnifies each of the Lenders against any loss or expense which may arise or be attributable to each Lender’s obtaining, liquidating or employing deposits or other funds acquired to effect, fund or maintain any Loan (a) as a consequence of any failure by the Borrower to make any payment when due of any amount due hereunder in connection with a LIBOR Rate Loan or Floating Rate Loan, (b) due to any failure of the Borrower to borrow on a date specified therefor in a Notice of Revolving Credit Borrowing or Notice of Continuation/Conversion or (c) due to any payment, prepayment or conversion of any LIBOR Rate Loan or Floating Rate Loan on a date other than the last day of the Interest Period therefor. The amount of such loss, cost or expense to any Lender shall be deemed to equal an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the LIBOR Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid, were it to bid, at the commencement of such period, for deposits in the applicable currency of a comparable amount and period from other banks in the London interbank market; provided that no compensation shall be payable pursuant to the above if the applicable Lender fails to demand compensation for such increased costs within one-hundred eighty (180) days following the date on which such Lender has actual knowledge of the event resulting in such increase. A certificate of such Lender setting forth in reasonable detail the basis for determining such amount or amounts necessary to compensate such

Lender shall be forwarded to the Borrower through the Administrative Agent and shall be conclusively presumed to be correct save for manifest error.

SECTION 5.11. Capital Requirements. If either (a) the introduction of, or any change in, or in the interpretation of, any Applicable Law or (b) compliance with any guideline or request issued after the date hereof from any central bank or comparable agency or other Governmental Authority (whether or not having the force of law), has or would have the effect of reducing the rate of return on the capital of, or has affected or would affect the amount of capital required to be maintained by, any Lender or any corporation controlling such Lender as a consequence of, or with reference to any Lender’s Revolving Credit Commitment and other commitments of this type, below the rate which the Lender or such other corporation could have achieved but for such introduction, change or compliance, then within five (5) Business Days after written demand by any such Lender, the Borrower shall pay to such Lender from time to time as specified by such Lender additional amounts sufficient to compensate such Lender or other corporation for such reduction; provided that no compensation shall be payable pursuant to the above if the applicable Lender fails to demand compensation for such increased costs within one-hundred eighty (180) days following the date on which such lender has actual knowledge of the event resulting in such increase. A certificate of such Lender setting forth in reasonable detail the basis for determining such amounts necessary to compensate such Lender shall be forwarded to the Borrower through the Administrative Agent and shall be conclusively presumed to be correct save for manifest error.

SECTION 5.12. Taxes. (a) Payments Free and Clear. Any and all payments by the Borrower hereunder or under the Notes or the Letters of Credit shall be made free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholding, and all liabilities with respect thereto excluding, (i) in the case of each Lender and the Administrative Agent, income and franchise taxes imposed on (or measured by) its net income by the United States of America or by the jurisdiction under the laws of which such Lender or the Administrative Agent (as the case may be) is organized or its principal office is located or is or should be qualified to do business or any political subdivision thereof, or in the case of any Lender, in which its applicable Lending Office is located (provided, however, that no Lender shall be deemed to be located in any jurisdiction solely as a result of taking any action related to this Agreement or the Notes or Letters of Credit) and (ii) any branch profits tax imposed by the United States of America or any similar tax imposed by any other jurisdiction described in clause (i) above (all such non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being hereinafter referred to as “Taxes”). If the Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder or under any Note or Letter of Credit to any Lender or the Administrative Agent, (A) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 5.12) such Lender or the Administrative Agent (as the case may be) receives an amount equal to the amount such party would have received had no such deductions been made, (B) the Borrower shall make such deductions, (C) the Borrower shall pay the full amount deducted to the relevant taxing authority or other authority in accordance with applicable law, and (D) the Borrower shall deliver to the Administrative Agent evidence of such payment to the relevant taxing authority or other authority in the manner provided in Section 5.12(d). The Borrower shall not, however, be required to pay any amounts pursuant to clause (A) of the preceding sentence to any Foreign Lender or the Administrative Agent not organized under the laws of the United States of America or a state thereof (or the District of Columbia) if such Foreign Lender or the Administrative Agent fails to comply with the requirements of paragraph (e) of this Section 5.12 or Section 5.9(d), as the case may be.

(b) Stamp and Other Taxes. In addition, the Borrower shall pay any present or future stamp, registration, recordation or documentary taxes or any other similar fees or charges or excise or property taxes, levies of the United States or any state or political subdivision thereof or any applicable foreign jurisdiction which arise from any payment made hereunder or from the execution, delivery or registration of, or otherwise with respect to, this Agreement, the Loans, the Letters of Credit, the other Loan Documents (hereinafter referred to as “Other Taxes”).

(c) Indemnity. The Borrower shall indemnify each Lender and the Administrative Agent for the full amount of Taxes and Other Taxes (including, without limitation, any Taxes and Other Taxes imposed by any jurisdiction on amounts payable under this Section 5.12) paid by such Lender or the Administrative Agent (as the case may be) and any liability (including penalties, interest and reasonable expenses) arising therefrom or with respect thereto, whether or not such Taxes or Other Taxes were correctly or legally asserted. A certificate as to the amount of such payment or liability prepared by a Lender or the Administrative Agent, absent manifest error, shall be conclusive, provided that if the Borrower reasonably believes that such Taxes or Other Taxes were not correctly or legally asserted, such Lender or the Administrative Agent (as the case may be) shall use reasonable efforts to cooperate with the Borrower, at the Borrower’s expense, to obtain a refund of such Taxes or Other Taxes. Such indemnification shall be made within thirty (30) days from the date such Lender or the Administrative Agent (as the case may be) makes written demand therefor. If a Lender or the Administrative Agent shall become aware that it is entitled to receive a refund in respect of Taxes or Other Taxes, it promptly shall notify the Borrower of the availability of such refund and shall, within sixty (60) days after receipt of a request by the Borrower pursue or timely claim such refund at the Borrower’s expense. If any Lender or the Administrative Agent receives a refund in respect of any Taxes or Other Taxes for which such Lender or the Administrative Agent has received payment from the Borrower hereunder, it promptly shall repay such refund (plus interest received, if any) to the Borrower (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section 5.12 with respect to Taxes or Other Taxes giving rise to such refund), provided that the Borrower, upon the request of such Lender or the Administrative Agent, agrees to return such refund (plus any penalties, interest or other charges required to be paid) to such Lender or the Administrative Agent in the event such Lender or the Administrative Agent is required to repay such refund to the relevant taxing authority.

(d) Evidence of Payment. Within thirty (30) days after the date of any payment of Taxes or Other Taxes, the Borrower shall furnish to the Administrative Agent, at its address referred to in Section 14.1, the original or a certified copy of a receipt evidencing payment thereof or other evidence of payment satisfactory to the Administrative Agent.

(e) Delivery of Tax Forms. Each Foreign Lender shall deliver to the Borrower, with a copy to the Administrative Agent, on the Closing Date or concurrently with the delivery of the relevant Assumption Agreement or Assignment and Acceptance, as applicable, (i) two United States Internal Revenue Service Forms W-8ECI or Forms W-8BEN, as applicable (or successor forms), properly completed and certifying in each case that such Foreign Lender is entitled to a complete exemption from withholding or deduction for or on account of any United States federal income taxes, and (ii) an Internal Revenue Service Form W-8 or W-9 or successor applicable form, as the case may be, to establish an exemption from United States backup withholding taxes. Each Foreign Lender further agrees to deliver to the Borrower, with a copy to the Administrative Agent, a Form W-8BEN or W-8ECI and Form W-8 or W-9, or successor applicable forms or manner of certification, as the case may be, on or before the date that any such form expires or becomes obsolete or after the occurrence of any event requiring a change in the most recent form previously delivered by it to the Borrower, certifying in the case of a Form W-8BEN or W-8ECI

that such Foreign Lender is entitled to receive payments under this Agreement without deduction or withholding of any United States federal income taxes (unless in any such case an event (including without limitation any change in treaty, law or regulation) has occurred prior to the date on which any such delivery would otherwise be required which renders such forms inapplicable or the exemption to which such forms relate unavailable and such Foreign Lender notifies the Borrower and the Administrative Agent that it is not entitled to receive payments without deduction or withholding of United States federal income taxes) and, in the case of a Form W-8 or W-9, establishing an exemption from United States backup withholding tax.

(f) Survival. Without prejudice to the survival of any other agreement of the Borrower hereunder, the agreements and obligations of the Borrower contained in this Section 5.12 shall survive the payment in full of the Obligations and the termination of the Revolving Credit Commitment.

ARTICLE VI CLOSING; CONDITIONS OF CLOSING AND BORROWING

SECTION 6.1. Closing. The closing shall take place at the offices of Shearman & Sterling LLP at 10:00 a.m. on May 16, 2005 or at such other location, on such other date and at such other time as the parties hereto shall mutually agree.

SECTION 6.2. Conditions to Closing and Initial Revolving Credit Loans and Letters of Credit. The obligation of the Lenders to close this Agreement and to make the initial Revolving Credit Loans or issue the initial Letters of Credit is subject to the satisfaction or waiver of each of the following conditions:

(a) Executed Loan Documents. This Agreement and the Revolving Credit Notes (to the extent requested as provided herein) shall have been duly authorized, executed and delivered to the Administrative Agent by the parties thereto, shall be in full force and effect and no default shall exist thereunder, and the Borrower shall have delivered original counterparts thereof to the Administrative Agent.

(b) Closing Certificates; Etc.

(i) Officers’ Certificate of the Borrower. The Administrative Agent shall have received a certificate from a Responsible Officer, in form and substance reasonably satisfactory to the Administrative Agent, to the effect that all representations and warranties of the Borrower contained in this Agreement and the other Loan Documents are true, correct and complete in all material respects; that the Borrower is not in violation of any of the covenants contained in this Agreement and the other Loan Documents; that, after giving effect to the transactions contemplated by this Agreement, no Default or Event of Default has occurred and is continuing; and that each of the closing conditions has been satisfied or waived (assuming satisfaction of the Administrative Agent where not advised otherwise).

(ii) General Certificate of each Credit Party. The Administrative Agent shall have received a certificate of the secretary, assistant secretary or general counsel of each Credit Party certifying as to the incumbency and genuineness of the signature of each officer of such Credit Party executing Loan Documents to which it is a party and certifying that attached thereto is a true, correct and complete copy of resolutions duly adopted by the Board of Directors of such Credit Party authorizing, in the case of the Borrower, the borrowings contemplated hereunder and, in the case of each Credit Party,

the execution, delivery and performance of this Agreement and the other Loan Documents to which it is a party.

(iii) Opinions of Counsel. The Administrative Agent shall have received favorable opinions of Ira M. Dansky, General Counsel to the Borrower, Cravath, Swaine & Moore LLP, special counsel to the Borrower, Schnader Harrison Segal & Lewis LLP, Pennsylvania counsel to the Borrower, and Drinker Biddle & Reath LLP, New Jersey counsel to the Borrower, each addressed to the Administrative Agent and the Lenders with respect to the Credit Parties, the Loan Documents and such other matters as the Lenders shall reasonably request.

(i) Governmental and Third Party Approvals. The Borrower shall have obtained all material approvals, authorizations and consents of any Person and of all Governmental Authorities and courts having jurisdiction with respect to the transactions contemplated by this Agreement and the other Loan Documents.

(ii) No Event of Default. No Default or Event of Default shall have occurred and be continuing.

(d) Financial Matters.

(i) Financial Statements. The Administrative Agent shall have received the audited Consolidated financial statements of Jones Apparel Group and its Subsidiaries for the Fiscal Year ended on December 31, 2004 and the unaudited financial statements of Jones Apparel Group and its Subsidiaries for the fiscal quarter ended on April 2, 2005.

(ii) Financial Condition Certificate. The Borrower shall have delivered to the Administrative Agent a certificate, in form and substance reasonably satisfactory to the Administrative Agent, and certified by a Responsible Officer, that the financial projections previously delivered to the Administrative Agent were prepared in good faith based upon assumptions believed to be reasonable at the time.

(iii) Payment at Closing; Fee Letters. The Borrower shall have paid the fees set forth or referenced in Section 5.3(c) and any other accrued and unpaid fees or commissions due hereunder (including, without limitation, reasonable legal fees and expenses) to the Administrative Agent and Lenders, and to any other Person such amount as may be due thereto in connection with the transactions contemplated hereby, including all taxes, fees and other charges in connection with the execution, delivery, recording, filing and registration of any of the Loan Documents. The Administrative Agent shall have received duly authorized and executed copies of the fee letter agreement referred to in Section 5.3(c).

(e) Miscellaneous.

(i) Notice of Revolving Credit Borrowing. The Administrative Agent shall have received a Notice of Revolving Credit Borrowing from the Borrower in accordance with Section 2.2(a), and a Notice of Account Designation specifying the account or accounts to which the proceeds of any Revolving Credit Loans made after the Closing Date are to be disbursed.

(ii) Proceedings and Documents. All opinions, certificates and other instruments and all proceedings in connection with the transactions contemplated by this Agreement shall be satisfactory in form and substance to the Lenders.

(iii) Investment Policy. The Borrower shall have delivered to the Administrative Agent a true and complete copy of the investment policy referenced in Section 11.4(b) in form and content reasonably acceptable to the Administrative Agent.

(f) Refinancing. On the Closing Date hereunder, (i) all outstanding loans under the Prior Credit Agreement (“Existing Loans”) shall be replaced by Revolving Credit Loans hereunder and the Administrative Agent shall make such transfers of funds as are necessary in order that the outstanding balance of such Revolving Credit Loans, together with any Revolving Credit Loans funded on the Closing Date, reflect the Revolving Credit Commitment of the Lenders hereunder, (ii) all outstanding letters of credit issued pursuant to the Prior Credit Agreement shall be deemed Letters of Credit hereunder and each Lender shall purchase a participation therein pursuant to Section 3.4 in accordance with its Revolving Credit Commitment Percentage, (iii) there shall have been paid in cash in full all accrued but unpaid interest due on the Existing Loans up to but excluding the Closing Date, (iv) there shall have been paid in cash in full all accrued but unpaid fees due under the Prior Credit Agreement up to but excluding the Closing Date and all other amounts, costs and expenses then owing to any of the Prior Lenders and/or any Agent, as agent under the Prior Credit Agreement, in each case to the satisfaction of such Agent or Prior Lender, as the case may be, regardless of whether or not such amounts would otherwise be due and payable at such time pursuant to the terms of the Prior Credit Agreement, (v) all outstanding promissory notes issued by the Borrower to the Prior Lenders under the Prior Credit Agreement shall be deemed canceled and the originally executed copies thereof shall be canceled and promptly returned to the Administrative Agent who shall promptly forward such notes to the Borrower and (vi) the commitments and, except as expressly set forth in the Prior Credit Agreement, other obligations and rights of the Borrower and the Prior Lenders shall be terminated without any further action hereunder or thereunder.

SECTION 6.3. Conditions to Extensions of Credit. The obligations of the Lenders to make any Extensions of Credit (other than Competitive Bid Loans) are subject to the satisfaction of the following conditions precedent on the relevant borrowing or issue date, as applicable:

(a) Continuation of Representations and Warranties. The representations and warranties contained in Article VII shall be true and correct on and as of such borrowing or issuance date with the same effect as if made on and as of such date; except for any representation and warranty made as of an earlier date, which representation and warranty shall remain true and correct as of such earlier date.

(b) No Existing Default. No Default or Event of Default shall have occurred and be continuing hereunder (i) on the borrowing date with respect to such Revolving Credit Loan or after giving effect to the Revolving Credit Loans to be made on such date or (ii) on the issue, extension or renewal date with respect to such Letter of Credit or after giving effect to such Letter of Credit on such date.

SECTION 6.4. Conditions Precedent to Each Competitive Bid Borrowing. The obligation of each Lender that is to make a Competitive Bid Loan on the occasion of a Competitive Bid Borrowing to make such Competitive Bid Loan as part of such Competitive Bid Borrowing is

subject to the conditions precedent that (i) the Agent shall have received the written confirmatory Notice of Competitive Bid Borrowing with respect thereto, (ii) on or before the date of such Competitive Bid Borrowing, but prior to such Competitive Bid Borrowing, the Agent shall have received a Competitive Bid Note payable to the order of such Lender for each of the one or more Competitive Bid Loans to be made by such Lender as part of such Competitive Bid Borrowing, in a principal amount equal to the principal amount of the Competitive Bid Loan to be evidenced thereby and otherwise on such terms as were agreed to for such Competitive Bid Loan in accordance with Section 4.1, and (iii) on the date of such Competitive Bid Borrowing:

(a) Continuation of Representations and Warranties. The representations and warranties contained in Article VII shall be true and correct on and as of such borrowing with the same effect as if made on and as of such date; except for any representation and warranty made as of an earlier date, which representation and warranty shall remain true and correct as of such earlier date.

(b) No Existing Default. No Default or Event of Default shall have occurred and be continuing hereunder on the borrowing date with respect to such Competitive Bid Loan or after giving effect to the Competitive Bid Loans to be made on such date.

ARTICLE VII REPRESENTATIONS AND WARRANTIES OF THE CREDIT PARTIES

SECTION 7.1. Representations and Warranties. To induce the Administrative Agent and Lenders to enter into this Agreement and to induce the Lenders to make Extensions of Credit, the Credit Parties hereby represent and warrant to the Administrative Agent and Lenders that:

(a) Organization; Power; Qualification. Each of the Credit Parties and their Subsidiaries is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation, has the power and authority to own its properties and to carry on its business as now being and hereafter proposed to be conducted and is duly qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification and authorization, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect.

(b) Ownership. Each Subsidiary of each of the Credit Parties as of the Closing Date is listed on Schedule 7.1(b). As of the Closing Date, the capitalization of the Credit Parties and their Subsidiaries consists of the number of shares, authorized, issued and outstanding, of such classes and series, with or without par value, described on Schedule 7.1(b). As of the Closing Date, all outstanding shares have been duly authorized and validly issued and are fully paid and nonassessable. The shareholders of the Subsidiaries of the Credit Parties and the number of shares owned by each as of the Closing Date are described on Schedule 7.1(b). As of the Closing Date, there are no outstanding stock purchase warrants, subscriptions, options, securities, instruments or other rights of any type or nature whatsoever, which are convertible into, exchangeable for or otherwise provide for or permit the issuance of capital stock of the Credit Parties or their Subsidiaries, except as described on Schedule 7.1(b).

(c) Authorization of Agreement, Loan Documents and Borrowing. Each of the Credit Parties and, if applicable, their Subsidiaries has the right, power and authority and has taken all necessary corporate and other action to authorize the execution, delivery and performance of each of the Loan Documents to which it is a party in accordance with

their respective terms. Each of the Loan Documents have been duly executed and delivered by the duly authorized officers of the Credit Parties and each of their Subsidiaries party thereto, as applicable, and each such document constitutes the legal, valid and binding obligation of the Credit Parties and, if applicable, each of their Subsidiaries party thereto, enforceable in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar state or federal debtor relief laws from time to time in effect which affect the enforcement of creditors’ rights in general and the availability of equitable remedies.

(d) Compliance of Agreement, Loan Documents and Borrowing with Laws, Etc. The execution, delivery and performance by the Credit Parties and their Subsidiaries of the Loan Documents to which each such Person is a party, in accordance with their respective terms, the borrowings hereunder and the transactions contemplated hereby do not and will not, by the passage of time, the giving of notice or otherwise, (i) require any of the Credit Parties or any of their Subsidiaries to obtain any Governmental Approval not otherwise already obtained or violate any Applicable Law relating to the Credit Parties or any of their Subsidiaries, (ii) conflict with, result in a breach of or constitute a default under the articles of incorporation, bylaws or other organizational documents of the Credit Parties or any of their Subsidiaries or any indenture or other material agreement or instrument to which such Person is a party or by which any of its properties may be bound or any Governmental Approval relating to such Person except as could not reasonably be expected to have a Material Adverse Effect, or (iii) result in or require the creation or imposition of any material Lien upon or with respect to any property now owned or hereafter acquired by such Person.

(e) Compliance with Law; Governmental Approvals. Other than with respect to environmental matters, which are treated exclusively in Section 7.1(h) hereof, each of the Credit Parties and their Subsidiaries (i) has all Governmental Approvals required by any Applicable Law for it to conduct its business, each of which is in full force and effect, is final and not subject to review on appeal and is not the subject of any pending or, to the best of its knowledge, threatened attack by direct or collateral proceeding, and (ii) is in compliance with each Governmental Approval applicable to it and in compliance with all other Applicable Laws relating to it or any of its respective properties; in each case, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect.

(f) Tax Returns and Payments. Each of the Credit Parties and their Subsidiaries has timely filed or caused to be timely filed all federal and state, local and other tax returns required by Applicable Law to be filed, and has paid, or made adequate provision for the payment of, all federal and state, local and other taxes, assessments and governmental charges or levies upon it and its property, income, profits and assets which are due and payable, except (a) taxes that are being contested in good faith by appropriate proceedings and for which such Credit Party or Subsidiary, as applicable, has set aside on its books adequate reserves to the extent required by GAAP or (b) to the extent the failure to do so could not reasonably be expected to have a Material Adverse Effect. No Governmental Authority has asserted any material Lien or other claim against the Credit Parties or any Subsidiary thereof with respect to unpaid taxes (except for taxes not yet due) which has not been discharged or resolved.

(g) Intellectual Property Matters. Each of the Credit Parties and its Subsidiaries owns or possesses rights to use all franchises, licenses, copyrights, copyright

applications, patents, patent rights or licenses, patent applications, trademarks, trademark rights, trade names, trade name rights, copyrights and rights with respect to the foregoing which are required to conduct its business except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. No event has occurred which, to the knowledge of the Credit Parties, permits, or after notice or lapse of time or both would permit, the revocation or termination of any such rights, and, to the knowledge of the Credit Parties, neither the Credit Parties nor any Subsidiary thereof is liable to any Person for infringement under Applicable Law with respect to any such rights as a result of its business operations, except as could not reasonably be expected to have a Material Adverse Effect.

(h) Environmental Matters. Except as could not reasonably be expected to have a Material Adverse Effect:

(i) The properties of the Credit Parties and their Subsidiaries do not contain, and to their knowledge have not previously contained, any Hazardous Materials in amounts or concentrations which (A) constitute or constituted a violation of applicable Environmental Laws or (B) could give rise to liability under applicable Environmental Laws;

(ii) The properties of the Credit Parties and their Subsidiaries and all operations conducted in connection therewith are in compliance, and have been in compliance, with all applicable Environmental Laws, and there are no Hazardous Materials at, under or about such properties or such operations in amounts or concentrations which could reasonably be expected to interfere with the continued operation of such properties;

(iii) Neither any of the Credit Parties nor any Subsidiary thereof has received any notice of violation, alleged violation, non-compliance, liability or potential liability regarding environmental matters or compliance with Environmental Laws, nor does any of the Credit Parties or any Subsidiary thereof have knowledge or reason to believe that any such notice will be received or is being threatened;

(iv) To the knowledge of the Credit Parties, Hazardous Materials have not been transported or disposed of from the properties of the Credit Parties or any of their Subsidiaries in violation of, or in a manner or to a location which could reasonably be expected to give rise to liability under, Environmental Laws, nor, to the knowledge of the Credit Parties, have any Hazardous Materials been generated, treated, stored or disposed of at, on or under any of such properties in violation of, or in a manner which could reasonably be expected to give rise to liability under, any Environmental Laws;

(v) No judicial proceedings or governmental or administrative action is pending, or, to the knowledge of the Credit Parties, threatened, under any Environmental Law to which any of the Credit Parties or any Subsidiary thereof will be named as a party, nor are there any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial requirements outstanding under any Environmental Law with respect to the properties or operations of the Credit Parties and their Subsidiaries; and

(vi) To the knowledge of the Credit Parties, there has been no release, or to the best of the Credit Parties’ knowledge, the threat of release, of Hazardous Materials at or from the properties of the Credit Parties or any of their Subsidiaries, in violation of or in amounts or in a manner that could reasonably be expected to give rise to liability under Environmental Laws.

(i) ERISA.

(i) Each of the Credit Parties and each ERISA Affiliate is in compliance with all applicable provisions of ERISA and the regulations and published interpretations thereunder with respect to all Employee Benefit Plans except where any such non-compliance could not reasonably be expected to have a Material Adverse Effect. Except for any failure that would not reasonably be expected to have a Material Adverse Effect, each Employee Benefit Plan that is intended to be qualified under Section 401(a) of the Code has been determined by the Internal Revenue Service to be so qualified, and each trust related to such plan has been determined to be exempt under Section 501(a) of the Code. No liability that could reasonably be expected to result in a Material Adverse Effect has been incurred by the Credit Parties or any ERISA Affiliate which remains unsatisfied for any taxes or penalties with respect to any Employee Benefit Plan or any Multiemployer Plan;

(ii) No accumulated funding deficiency (as defined in Section 412 of the Code) has been incurred (without regard to any waiver granted under Section 412 of the Code), nor has any funding waiver from the Internal Revenue Service been received or requested with respect to any Pension Plan;

(iii) Neither the Credit Parties nor any ERISA Affiliate has: (A) engaged in a nonexempt prohibited transaction described in Section 406 of ERISA or Section 4975 of the Code, (B) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are no premium payments which are due and unpaid, (C) failed to make a required contribution or payment to a Multiemployer Plan, or (D) failed to make a required installment or other required payment under Section 412 of the Code except where any of the foregoing individually or in the aggregate could not reasonably be expected to have a Material Adverse Effect;

(iv) No Termination Event that could reasonably be expected to result in a Material Adverse Effect has occurred or is reasonably expected to occur; and

(v) No proceeding, claim, lawsuit and/or investigation is existing or, to the knowledge of the Credit Parties, threatened concerning or involving any Employee Benefit Plan that could reasonably be expected to result in a Material Adverse Effect.

(j) Margin Stock. Neither the Credit Parties nor any Subsidiary thereof is engaged principally or as one of its activities in the business of extending credit for the purpose of “purchasing” or “carrying” any “margin stock” (as each such term is defined or used in Regulation U of the Board of Governors of the Federal Reserve System). No part of the proceeds of any of the Loans or Letters of Credit will be used for purchasing or carrying margin stock, unless the Credit Parties shall have given the Administrative Agent and Lenders prior notice of such event and such other information as is reasonably necessary to permit the Administrative Agent and Lenders to comply, in a timely fashion, with all reporting obligations required by Applicable Law, or for any purpose which

violates, or which would be inconsistent with, the provisions of Regulation T, U or X of such Board of Governors.

(k) Government Regulation. Neither the Credit Parties nor any Subsidiary thereof is an “investment company” or a company “controlled” by an “investment company” (as each such term is defined or used in the Investment Company Act of 1940, as amended) and neither the Credit Parties nor any Subsidiary thereof is, or after giving effect to any Extension of Credit will be, subject to regulation under the Public Utility Holding Company Act of 1935 or the Interstate Commerce Act, each as amended.

(l) Burdensome Provisions. Neither the Credit Parties nor any Subsidiary thereof is a party to any indenture, agreement, lease or other instrument, or subject to any corporate or partnership restriction, Governmental Approval or Applicable Law which is so unusual or burdensome as in the foreseeable future could be reasonably expected to have a Material Adverse Effect. The Credit Parties and their Subsidiaries do not presently anticipate that future expenditures needed to meet the provisions of any statutes, orders, rules or regulations of a Governmental Authority will be so burdensome as to have a Material Adverse Effect.

(m) Financial Statements. The (i) Consolidated balance sheet of Jones Apparel Group and its Subsidiaries as of December 31, 2004, and the related statements of income, stockholders’ equity and cash flows for the Fiscal Year then ended and (ii) unaudited Consolidated balance sheet of Jones Apparel Group and its Subsidiaries as of April 2, 2005, and related unaudited interim statements of income, stockholders’ equity and cash flows, copies of which have been furnished to the Administrative Agent and each Lender, are complete in all material respects and fairly present in all material respects the assets, liabilities and financial position of Jones Apparel Group and its Subsidiaries as at such dates, and the results of the operations and changes of financial position for the periods then ended, subject to normal year end adjustments. All such financial statements, including the related notes thereto, have been prepared in accordance with GAAP.

(n) No Material Adverse Change. Since the later to occur of (i) December 31, 2004 or (ii) the date of the most recently delivered audited financial statements of Jones Apparel Group and its Subsidiaries, there has been no Material Adverse Effect.

(o) Liens. None of the properties and assets of the Credit Parties or any Subsidiary thereof is subject to any Lien, except Liens permitted pursuant to Section 11.3.

(p) Debt and Guaranty Obligations. Schedule 7.1(p) is a complete and correct listing of all Debt and Guaranty Obligations of the Credit Parties and their Subsidiaries as of the Closing Date in excess of $5,000,000.

(q) Litigation. Except for matters existing on the Closing Date and set forth on Schedule 7.1(q), there are no actions, suits or proceedings pending nor, to the knowledge of the Credit Parties, threatened against or affecting the Credit Parties or any Subsidiary thereof or any of their respective properties in any court or before any arbitrator of any kind or before or by any Governmental Authority, which could reasonably be expected to have a Material Adverse Effect or which relate to the enforceability of any Loan Documents.

(r) Absence of Defaults. To the knowledge of the Credit Parties, no event has occurred and is continuing which constitutes a Default or an Event of Default.

(s) Accuracy and Completeness of Information. The Credit Parties have disclosed to the Lenders all agreements, instruments and corporate or other restrictions to which they or any of their Subsidiaries are subject, and all other matters known to them, that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. The written information, taken as a whole, furnished by or on behalf of the Credit Parties to the Administrative Agent or any Lender in connection with the negotiation of this Agreement or delivered hereunder (as modified or supplemented by other information so furnished) does not contain any material misstatement of fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Credit Parties represent only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time.

SECTION 7.2. Survival of Representations and Warranties, Etc. All representations and warranties set forth in this Article VII and all representations and warranties contained in any certificate delivered in connection with this Agreement, or any of the Loan Documents (including but not limited to any such representation or warranty made in or in connection with any amendment thereto) shall constitute representations and warranties made under this Agreement. All representations and warranties made under this Agreement shall be made or deemed to be made at and as of the Closing Date, shall survive the Closing Date and shall not be waived by the execution and delivery of this Agreement, any investigation made by or on behalf of the Lenders or any borrowing hereunder.

ARTICLE VIII FINANCIAL INFORMATION AND NOTICES

Until all the Obligations (other than Obligations under Hedging Agreements) have been paid and satisfied in full and the Revolving Credit Commitment and L/C Commitment have terminated, unless consent has been obtained in the manner set forth in Section 14.11 hereof, the Credit Parties will furnish or cause to be furnished to the Administrative Agent (which the Administrative Agent will promptly furnish to the Lenders at their respective addresses as set forth on Schedule 1.1(a), or such other office as may be designated to the Administrative Agent from time to time):

SECTION 8.1. Financial Statements and Projections. (a) Quarterly Financial Statements. As soon as practicable and in any event within forty-five (45) days after the end of the first three fiscal quarters of each Fiscal Year, an unaudited Consolidated balance sheet of Jones Apparel Group and its Subsidiaries as of the close of such fiscal quarter and unaudited Consolidated statements of income, stockholders’ equity and cash flows for the fiscal quarter then ended and that portion of the Fiscal Year then ended, including the notes thereto, all in reasonable detail setting forth in comparative form the corresponding figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the preceding Fiscal Year and prepared by Jones Apparel Group in accordance with GAAP and, if applicable, containing disclosure of the effect on the financial position or results of operations of any change in the application of accounting principles and practices during the period, and certified by a Responsible Officer to present fairly in all material respects the financial condition of Jones Apparel Group and its Subsidiaries as of their respective dates and the results of operations of Jones Apparel Group and its Subsidiaries for the respective periods then ended, subject to normal year end adjustments.

(b) Annual Financial Statements. As soon as practicable and in any event within ninety (90) days after the end of each Fiscal Year, an audited Consolidated balance sheet of Jones Apparel Group and its Subsidiaries as of the close of such Fiscal Year and audited Consolidated statements of income, stockholders’ equity and cash flows for the Fiscal Year then ended, including the notes thereto, all in reasonable detail setting forth in comparative form the corresponding figures for the preceding Fiscal Year and prepared by a nationally recognized independent certified public accounting firm in accordance with GAAP and, if applicable, containing disclosure of the effect on the financial position or results of operation of any change in the application of accounting principles and practices during the year, and accompanied by a report thereon by such certified public accountants that is not qualified with respect to scope limitations imposed by Jones Apparel Group or any of its Subsidiaries or with respect to accounting principles followed by Jones Apparel Group or any of its Subsidiaries not in accordance with GAAP.

SECTION 8.2. Officer’s Compliance Certificate. At each time financial statements are delivered pursuant to Section 8.1(a) or (b) a certificate of a Responsible Officer in the form of Exhibit F attached hereto (an “Officer’s Compliance Certificate”).

SECTION 8.3. Accountants’ Certificate. At each time financial statements are delivered pursuant to Section 8.1(b), a certificate of the independent public accountants certifying such financial statements addressed to the Administrative Agent for the benefit of the Lenders:

(a) stating that in making the examination necessary for the certification of such financial statements, they obtained no knowledge of any Default or Event of Default or, if such is not the case, specifying such Default or Event of Default and its nature and period of existence; and

(b) including the calculations prepared by such accountants required to establish whether or not the Credit Parties and their Subsidiaries are in compliance with the financial covenants set forth in Article X hereof as at the end of each respective period.

SECTION 8.4. Other Reports. (a) Promptly but in any event within ten (10) Business Days after the filing thereof, a copy of (i) each report or other filing made by the Credit Parties or any or their Subsidiaries with the Securities and Exchange Commission and required by the Securities and Exchange Commission to be delivered to the shareholders of the Credit Parties or any or their

Subsidiaries, (ii) each report made by the Credit Parties or any of their Subsidiaries to the Securities and Exchange Commission on Form 8-K and (iii) each final registration statement of the Credit Parties or any of their Subsidiaries filed with the Securities and Exchange Commission, except in connection with pension plans and other employee benefit plans; and

(b) Such other information regarding the operations, business affairs and financial condition of the Credit Parties or any of their Subsidiaries as the Administrative Agent or any Lender may reasonably request.

SECTION 8.5. Notice of Litigation and Other Matters. Prompt (but in no event later than ten (10) Business Days after a principal officer of the Credit Parties obtains knowledge thereof) telephonic (confirmed in writing) or written notice of:

(a) the commencement of all proceedings and investigations by or before any Governmental Authority and all actions and proceedings in any court or before any arbitrator against or involving the Credit Parties or any Subsidiary thereof or any of their respective properties, assets or businesses which in the reasonable judgment of the Credit Parties could reasonably be expected to have a Material Adverse Effect;

(b) any notice of any violation received by the Credit Parties or any Subsidiary thereof from any Governmental Authority including, without limitation, any notice of violation of Environmental Laws, which in the reasonable judgment of the Credit Parties in any such case could reasonably be expected to have a Material Adverse Effect;

(d) (i) any unfavorable determination letter from the Internal Revenue Service regarding the qualification of an Employee Benefit Plan under Section 401(a) of the Code (along with a copy thereof) which could reasonably be expected to have a Material Adverse Effect, (ii) all notices received by the Credit Parties or any ERISA Affiliate of the PBGC’s intent to terminate any Pension Plan or to have a trustee appointed to administer any Pension Plan, (iii) all notices received by the Credit Parties or any ERISA Affiliate from a Multiemployer Plan sponsor concerning the imposition or amount of withdrawal liability pursuant to Section 4202 of ERISA which could reasonably have a Material Adverse Effect and (iv) the Credit Parties obtaining knowledge or reason to know that the Credit Parties or any ERISA Affiliate has filed or intends to file a notice of intent to terminate any Pension Plan under a distress termination within the meaning of Section 4041(c) of ERISA.

SECTION 8.6. Accuracy of Information. All written information, reports, statements and other papers and data furnished by or on behalf of the Credit Parties to the Administrative Agent or any Lender (other than financial forecasts) whether pursuant to this Article VIII or any other provision of this Agreement, shall be, at the time the same is so furnished, true and complete in all material respects.

ARTICLE IX AFFIRMATIVE COVENANTS

Until all of the Obligations (other than any Obligations under any Hedging Agreement) have been paid and satisfied in full and the Revolving Credit Commitment and L/C Commitment have terminated, unless consent has been obtained in the manner provided for in Section 14.11, the Credit Parties will, and will cause each of their Subsidiaries to:

SECTION 9.1. Preservation of Corporate Existence and Related Matters. Except as permitted by Section 11.5, preserve and maintain its separate corporate existence and all rights, franchises, licenses and privileges necessary to the conduct of its business, and qualify and remain qualified as a foreign corporation and authorized to do business in each jurisdiction where the nature and scope of its activities require it to so qualify under Applicable Law in which the failure to so qualify would have a Material Adverse Effect.

SECTION 9.2. Maintenance of Property. Protect and preserve all properties useful in and material to its business, including copyrights, patents, trade names and trademarks; maintain in good working order and condition all buildings, equipment and other tangible real and personal property material to the conduct of its business, ordinary wear and tear excepted; and from time to time make or cause to be made all renewals, replacements and additions to such property necessary for the conduct of its business, so that the business carried on in connection therewith may be properly and advantageously conducted at all times.

SECTION 9.3. Insurance. Maintain insurance with financially sound and reputable insurance companies against such risks and in such amounts as are customarily maintained by similar businesses and as may be required by Applicable Law including, without limitation, hazard and business interruption coverage.

SECTION 9.4. Accounting Methods and Financial Records. Maintain a system of accounting, and keep such books, records and accounts (which shall be true and complete in all material respects) as may be required or as may be necessary to permit the preparation of financial statements in accordance with GAAP and in compliance with the regulations of any Governmental Authority having jurisdiction over it or any of its properties.

SECTION 9.5. Payment and Performance of Obligations. Pay and perform all Obligations under this Agreement and the other Loan Documents, and pay (a) all material taxes, assessments and other governmental charges that may be levied or assessed upon it or any of its property, and (b) subject to the thresholds and other limitations set forth in Section 12.1(f) or Section 12.1(g), all other material indebtedness, obligations and liabilities in accordance with customary trade practices; provided, that the Credit Parties or such Subsidiary may contest any item described in clause (a) or (b) of this Section 9.5 in good faith so long as adequate reserves are maintained with respect thereto to the extent required by GAAP. It is expected that all payments in respect of the Obligations, the Existing Debt Securities and the Additional Debt Securities will be made by the Borrower.

SECTION 9.6. Compliance With Laws and Approvals. Observe and remain in compliance with all Applicable Laws and maintain in full force and effect all Governmental Approvals, in each case applicable to the conduct of its business except where the failure to observe or comply could not reasonably be expected to have a Material Adverse Effect.

SECTION 9.7. Environmental Laws. In addition to and without limiting the generality of Section 9.6, (a) comply with, and use best efforts to ensure such compliance by all tenants and subtenants, with all applicable Environmental Laws and obtain and comply with and maintain, and use its best efforts to ensure that all tenants and subtenants obtain and comply with and maintain, any and all licenses, approvals, notifications, registrations or permits required by applicable Environmental Laws except where the failure to comply could not reasonably have a Material Adverse Effect, (b) conduct and complete all investigations, studies, sampling and testing, and all remedial, removal and other actions required under Environmental Laws, and promptly comply with all lawful orders and directives of any Governmental Authority regarding

Environmental Laws except (i) where the failure to do so could not reasonably be expected to have a Material Adverse Effect or (ii) to the extent the Credit Parties or any of their Subsidiaries are contesting, in good faith, any such requirement, order or directive before the appropriate Governmental Authority so long as adequate reserves are maintained with respect thereto to the extent required by GAAP, and (c) defend, indemnify and hold harmless the Administrative Agent and the Lenders, and their respective parents, Subsidiaries, Affiliates, employees, agents, officers and directors, from and against any claims, demands, penalties, fines, liabilities, settlements, damages, costs and expenses of whatever kind or nature known or unknown, contingent or otherwise, arising out of, or in any way relating to the violation of, noncompliance with or liability under any Environmental Laws applicable to the operations of the Credit Parties or such Subsidiaries, or any orders, requirements or demands of Governmental Authorities related thereto, including, without limitation, reasonable attorney’s and consultant’s fees, investigation and laboratory fees, response costs, court costs and litigation expenses, except to the extent that any of the foregoing directly result from the gross negligence or willful misconduct of the party seeking indemnification therefor.

SECTION 9.8. Compliance with ERISA. In addition to and without limiting the generality of Section 9.6, (a) comply with all applicable provisions of ERISA and the Code and the regulations and published interpretations thereunder with respect to all Employee Benefit Plans, except where the failure to comply could not reasonably be expected to have a Material Adverse Effect, (b) not take any action or fail to take action the result of which would result in a liability to the PBGC or to a Multiemployer Plan in an amount that could reasonably be expected to have a Material Adverse Effect, and (c) furnish to the Administrative Agent upon the Administrative Agent’s request such additional information about any Employee Benefit Plan concerning compliance with this covenant as may be reasonably requested by the Administrative Agent.

SECTION 9.9. Conduct of Business. Engage only in businesses in substantially the same fields as the businesses conducted on the Closing Date (including, without limitation, the apparel, footwear, handbags, accessories, jewelry, denim and cosmetics or other women’s accoutrements industries generally) and in lines of business reasonably related thereto (collectively, “Permitted Lines of Business”), or as otherwise permitted pursuant to the terms of this Agreement.

SECTION 9.10. Visits and Inspections. Permit representatives of the Administrative Agent or any Lender, from time to time upon reasonable prior notice to visit and inspect its properties; inspect and make extracts from its books, records and files, including, but not limited to, management letters prepared by independent accountants; and discuss with its principal officers, and its independent accountants, its business, assets, liabilities, financial condition, results of operations and business prospects.

SECTION 9.11. Use of Proceeds. The Credit Parties shall use the proceeds of the Loans and the Letters of Credit to (a) refinance certain existing Debt, (b) for working capital and general corporate purposes of the Credit Parties and their Subsidiaries, including acquisitions and stock repurchases, and (c) the payment of certain fees and expenses incurred in connection with the transactions contemplated hereby or thereby.

ARTICLE X FINANCIAL COVENANTS

Until all of the Obligations (other than any Obligations under any Hedging Agreement) have been paid and satisfied in full and the Revolving Credit Commitment and L/C Commitment have terminated, unless consent has been obtained in the manner set forth in Section 14.11 hereof, the Credit Parties and their Subsidiaries on a Consolidated basis will not:

SECTION 10.1. Interest Coverage Ratio. As of the end of any fiscal quarter, permit the ratio (the “Interest Coverage Ratio”) of (a) EBITDAR for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date to (b) the sum of (i) Interest Expense paid or payable in cash and (ii) Rental Expense, both for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date, to be less than 2.75 to 1.0.

SECTION 10.2. Minimum Net Worth. As of the end of any fiscal quarter, permit Consolidated Net Worth to be less than $1,750,000,000.

ARTICLE XI NEGATIVE COVENANTS

Until all of the Obligations (other than any Obligations under any Hedging Agreement) have been paid and satisfied in full and the Revolving Credit Commitment has expired or been terminated, unless consent has been obtained in the manner set forth in Section 14.11 hereof, the Credit Parties will not and will not permit any of their Subsidiaries to:

SECTION 11.1. Limitations on Debt and Guaranty Obligations. Create, incur, assume or suffer to exist any Debt, including Guaranty Obligations, except:

(a) the Obligations of the Credit Parties;

(b) the Five-Year Credit Agreement Obligations;

(c) Debt existing on the Closing Date (other than the Five-Year Credit Agreement Obligations), including the Debt as set forth on Schedule 7.1(p);

(d) Debt in the form of additional credit facilities of the Credit Parties or their Subsidiaries for borrowings denominated in currencies other than Dollars; provided that the equivalent Dollar Amount of the aggregate commitment thereunder does not exceed $50,000,000 on any date of determination;

(e) Debt of the Credit Parties and their Subsidiaries, not otherwise permitted under this Section 11.1, incurred in connection with (i) Capitalized Leases, (ii) purchase money Debt, (iii) Debt of a Subsidiary incurred and outstanding on or prior to the date on which such Subsidiary was acquired by any Credit Party or otherwise became a Subsidiary of such Credit Party, or Debt assumed by a Credit Party or a Subsidiary thereof in connection with an asset acquisition which Debt was outstanding prior to the date of such asset acquisition (in each case, other than Debt incurred as consideration in, or to provide all or any portion of the funds or credit support utilized to consummate, the transaction or series of transactions pursuant to which such Subsidiary became a Subsidiary of such Credit Party or was otherwise acquired by such Credit Party or pursuant to which such assets were acquired) and (iv) any other unsecured Debt of the Subsidiaries of the Credit Parties in an aggregate outstanding amount (excluding any attributable Debt from the sale leaseback transaction involving the Credit Parties’ distribution warehouse at South Hill, Virginia) not to exceed fifteen percent (15%) of Consolidated Net Worth of the Credit Parties and their Subsidiaries on any date of determination;

(f) additional Debt of the Credit Parties, not otherwise permitted under this Section 11.1, arising under or in connection with public or privately placed notes, debentures, bonds, or debt securities or related indentures or other agreements (the

“Additional Debt Securities”) (including in connection with the issuance of exchange securities in connection with any exchange offer registered under the Securities Act of 1933, as amended, following a private placement of Additional Debt Securities) so long as no Default or Event of Default exists on the date any such Additional Debt Security is created or arises as a result of any borrowing thereunder;

(g) other Debt of the Credit Parties, not otherwise permitted under this Section 11.1, in an aggregate outstanding amount not to exceed $300,000,000 on any date of determination;

(h) Debt of the Credit Parties to any Subsidiary or any other Credit Party and of any Subsidiary to the Credit Parties or any other Subsidiary;

(i) Debt incurred in respect of the extension, renewal, refinancing, replacement or refunding (collectively, the “refinancing”) of Debt incurred pursuant to clause (a), (b), (c) or (e); provided, that (i) such Debt is an aggregate principal amount (or if incurred with original issue discount, an aggregate issue price) not in excess of the sum of (x) the aggregate principal amount (or if incurred with original issue discount, the aggregate accreted value) then outstanding of the Debt being refinanced and (y) an amount necessary to pay any fees and expenses, including premiums and defeasance costs, related to such refinancing, (ii) the average life of such Debt is equal to or greater than the average life of the Debt being refinanced, (iii) the stated maturity of such Debt is no earlier than the stated maturity of the Debt being refinanced; and (iv) the new Debt shall not be senior in right of payment to the Debt that is being refinanced; provided, that none of the Debt permitted to be incurred by this Section shall expressly restrict, limit or otherwise encumber (unless such restriction, limitation or other encumbrance is a Permitted Encumbrance (as defined below)), the ability of any Subsidiary of the Credit Parties to make any payment to the Credit Parties or any of their Subsidiaries (in the form of dividends, intercompany advances or otherwise) for the purpose of enabling the Credit Parties to pay the Obligations. For purposes of this Section 11.1, with regard to any Debt, a “Permitted Encumbrance” shall mean any restriction, limitation or other encumbrance that applies solely if a default or event of default (other than a default resulting solely from the breach of a representation or warranty) occurs and is continuing under such Debt; provided further that, with respect to any default or event of default (other than a payment default, including as a result of acceleration, or a bankruptcy event with respect to the obligor of such Debt), such encumbrance or restriction may not prohibit dividends to the Credit Parties or any Subsidiary thereof to pay the Obligations for more than one hundred eighty (180) days in any consecutive three hundred sixty (360) day period; and

(j) Debt incurred in connection with the Permitted Investment Policy as in effect on the date hereof.

SECTION 11.2. [Reserved].

SECTION 11.3. Limitations on Liens. Create, incur, assume or suffer to exist, any Lien on or with respect to any of its assets or properties (including without limitation shares of capital stock or other ownership interests), real or personal, whether now owned or hereafter acquired, except:

(a) Liens for taxes, assessments and other governmental charges or levies (excluding any Lien imposed pursuant to any of the provisions of ERISA or Environmental Laws) not yet due or as to which the period of grace, if any, related thereto has not expired or which are being contested in good faith and by appropriate proceedings if adequate reserves are maintained to the extent required by GAAP;

(b) the claims of materialmen, mechanics, carriers, warehousemen, processors or landlords for labor, materials, supplies or rentals incurred in the ordinary course of business, (i) which are not overdue for a period of more than thirty (30) days or (ii) which are being contested in good faith and by appropriate proceedings;

(c) Liens consisting of deposits or pledges made in the ordinary course of business in connection with, or to secure payment of, obligations under workers’ compensation, unemployment insurance or similar legislation or obligations under customer service contracts;

(d) Liens constituting encumbrances in the nature of zoning restrictions, easements and rights or restrictions of record on the use of real property, which do not, in any case, materially detract from the value of such property or materially impair the use thereof in the ordinary conduct of business;

(e) Liens of the Administrative Agent for the benefit of the Administrative Agent and the Lenders;

(f) Liens incurred in the ordinary course of business securing Debt of the Credit Parties permitted under Section 11.1 not to exceed $75,000,000 in the aggregate outstanding in addition to Liens existing on the Closing Date;

(g) Liens existing on any property or asset prior to the acquisition thereof by the Credit Parties or any Subsidiary or existing on any property or asset of any Person that becomes a Subsidiary or is merged with or into the Credit Parties or any Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary or is so merged;

(h) Liens in existence on the Closing Date and described on Schedule 11.3;

(i) Liens securing Debt incurred in connection with Capitalized Leases and purchase money Debt permitted under Section 11.1(e); provided that (i) such Liens shall be created substantially simultaneously with the acquisition of the related asset, (ii) such Liens do not at any time encumber any property other than the property financed by such Debt, (iii) the amount of Debt secured thereby is not increased and (iv) the principal amount of Debt secured by any such Lien shall at no time exceed one hundred percent (100%) of the original purchase price of such property at the time it was acquired;

(j) Liens incurred to secure appeal bonds and judgment and attachment Liens in respect of judgments or orders that do not constitute an Event of Default under Section 12.1(m);

(k) Liens arising solely by virtue of any statutory or common law provision relating to banker’s liens, rights of setoff or similar rights and remedies, in each case as to deposit accounts or other funds maintained with a creditor depository institution;

(l) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business;

(m) Liens arising in the ordinary course of business that do not secure monetary obligations;

(n) Liens arising by the terms of letters of credit entered into in the ordinary course of business to secure reimbursement obligations thereunder;

(o) Liens securing Debt or other obligations between the Credit Parties and a Subsidiary or between Subsidiaries or Credit Parties;

(p) Liens granted to any bank or other institution securing the payments to be made to such bank or other institution by the Credit Parties or a Subsidiary of the Credit Parties pursuant to any Hedging Agreement; provided that, such agreements are entered into in, or are incidental to, the ordinary course of business;

(q) The refinancing of any Lien referred to in clause (g), (h), (i) or (p) provided, that the principal amount of Debt (or, if incurred with original issue discount, an aggregate issue price) secured thereby and not otherwise authorized by clause (g), (h), (i) or (p) shall not exceed the principal amount of Debt (or if incurred without original issue discount, the aggregate accreted value) plus any fees and expenses, including premiums and defeasance costs, payable in connection with any such extension, renewal, replacement or refunding, so secured at the time of such extension, renewal, replacement or refunding; and

(r) Liens incurred in connection with the Permitted Investment Policy as in effect on the date hereof.

SECTION 11.4. Limitations on Loans, Advances, Investments and Acquisitions. Purchase, own, invest in or otherwise acquire, directly or indirectly, any capital stock (other than capital stock of the Credit Parties), interests in any partnership, limited liability company or joint venture (including without limitation the creation or capitalization of any Subsidiary), evidence of Debt or other obligation or security, substantially all or a portion of the business or assets of any other Person or any other investment or interest whatsoever in any other Person, or make or permit to exist, directly or indirectly, any loans, advances or extensions of credit to, or any investment in cash or by delivery of property in, any Person, or enter into, directly or indirectly, any commitment or option in respect of the foregoing (collectively, “Investments”) except:

(a) Investments in Subsidiaries existing on the Closing Date and the other existing loans, advances and Investments described on Schedule 11.4;

(b) Investments made in accordance with the Permitted Investment Policy;

(c) Investments by the Credit Parties or any Subsidiary in the form of acquisitions, including acquisitions of all or substantially all of the business or a line of

business (whether by the acquisition of capital stock, assets or any combination thereof) of any other Person, so long as (i) a Responsible Officer certifies to the Administrative Agent and the Required Lenders that no Default or Event of Default has occurred and is continuing or would result from the closing of such acquisition, such certification to include, for any acquisition involving a purchase price in excess of $50,000,000, either individually or in a series of related transactions, a financial condition certificate to which is attached a pro forma balance sheet of Jones Apparel Group and its Subsidiaries setting forth on a pro forma basis the financial condition of Jones Apparel Group and its Subsidiaries on a Consolidated basis as of the most recently ended Fiscal Year, reflecting on a pro forma basis the effect of the transactions contemplated by such acquisition, including all fees and expenses in connection therewith, and evidencing compliance on a pro forma basis with the covenants contained in Article X hereof, and (ii) such acquisition meets either of the following requirements: (A) such acquisition is within a Permitted Line of Business, or (B) such acquisition is outside a Permitted Line of Business but the price for such acquisition, together with all other acquisitions outside the Permitted Lines of Business, does not exceed $50,000,000 in the aggregate;

(d) Investments (other than acquisitions) in the Permitted Lines of Business;

(e) Investments (other than acquisitions) outside Permitted Lines of Business not in excess of $50,000,000 in the aggregate;

(f) loans and advances to third party contractors in the ordinary course of business and consistent with past practice not to exceed in an aggregate outstanding amount $6,000,000 (excluding such loans and advances consisting of prepayments or advances for inventory or services); and loans and advances to employees of the Credit Parties and their Subsidiaries in an aggregate outstanding amount not to exceed $4,000,000; and

(g) intercompany loans and advances among the Credit Parties and their Subsidiaries so long as permitted under the terms of Sections 11.1 and 11.3.

SECTION 11.5. Limitations on Mergers and Liquidation. Merge, consolidate or enter into any similar combination with any other Person or liquidate, wind-up or dissolve itself (or suffer any liquidation or dissolution) except so long as no Default or Event of Default has occurred and is continuing, or would result therefrom:

(a) any Credit Party may merge or consolidate with or into any Person; provided that (i) such Credit Party shall be the survivor of such merger or consolidation or (ii) the survivor assumes and succeeds to the Obligations of such Credit Party pursuant to an assumption agreement in form reasonably satisfactory to the Administrative Agent and the Required Lenders;

(b) any Wholly-Owned Subsidiary of the Credit Parties may merge or consolidate with or into any other Wholly-Owned Subsidiary of the Credit Parties;

(c) any Wholly-Owned Subsidiary may merge or consolidate with or into the Person such Wholly-Owned Subsidiary was formed to acquire in connection with an acquisition permitted by Section 11.4(b), (c) or (d);

(d) any Wholly-Owned Subsidiary of the Credit Parties may merge or consolidate with or into any Credit Party; provided that, such Credit Party is the survivor of such merger or consolidation; and

(e) any Credit Party may merge or consolidate with or into any other Credit Party.

SECTION 11.6. Limitations on Sale or Transfer of Assets. Convey, sell, lease, assign, transfer or otherwise dispose of any of its property, business or assets, whether now owned or hereafter acquired (collectively, “sale”), except for the following:

(a) the sale of inventory or the factoring of accounts receivable in the ordinary course of business;

(b) the sale of obsolete assets no longer used or usable in the business of the Credit Parties or any of their Subsidiaries;

(c) the sale or discount without recourse of accounts receivable arising in the ordinary course of business in connection with the compromise or collection thereof;

(d) the sale of assets between the Credit Parties and any Subsidiary or between Subsidiaries or Credit Parties;

(e) the sale of any other assets of the Credit Parties and their Subsidiaries outside the ordinary course of business so long as the total fair market value for all such sales on and after the Closing Date on an aggregate basis does not at any time exceed thirty-three percent (33%) of Consolidated Net Worth; and

(f) the sale of assets purchased in accordance with the Permitted Investment Policy as in effect on the date hereof.

SECTION 11.7. Limitations on Dividends and Distributions. Declare or pay any dividends upon any of its capital stock; purchase, redeem, retire or otherwise acquire, directly or indirectly, any shares of its capital stock, or make any distribution of cash, property or assets among the holders of shares of its capital stock, or make any change in its capital structure that could reasonably be expected to have a Material Adverse Effect; provided that: (a) the Credit Parties may pay dividends solely in shares of their own capital stock or other ownership interest (including dividends consisting of rights to purchase such capital stock or other ownership interest), (b) any Subsidiary may pay dividends or make distributions to the Credit Parties or any Wholly-Owned Subsidiary of the Credit Parties, (c) any Credit Party may pay dividends or make distributions to any other Credit Party and (d) as long as no Default or Event of Default has occurred and is continuing or would be created thereby (i) the Credit Parties may declare and pay dividends on shares of their capital stock or other ownership interests, (ii) the Credit Parties or any Subsidiary may redeem shares of their capital stock or other ownership interest pursuant to a plan approved by the Board of Directors of the Credit Parties or such Subsidiary, as applicable and (iii) the Credit Parties or any Subsidiary may take any action otherwise prohibited by this Section 11.7.

SECTION 11.8. Transactions with Affiliates. Directly or indirectly enter into, or be a party to, any transaction with any of its Affiliates, except (i) on terms that are no less favorable to it than it would obtain in a comparable arm’s length transaction with a Person not its Affiliate, (ii) without limiting any other provision of this Agreement, in connection with any acquisition otherwise

permitted pursuant to the terms of this Agreement or (iii) for transactions between Credit Parties or between Credit Parties and Subsidiaries of Credit Parties.

SECTION 11.9. Changes in Fiscal Year End. Change its Fiscal Year.

SECTION 11.10. Amendments; Payments and Prepayments of Material Debt and Subordinated Debt. Upon the occurrence and continuation of a Default or an Event of Default, amend or modify (or permit the modification or amendment of) in any manner materially adverse to the Lenders any of the terms or provisions of any Debt in excess of $25,000,000, including without limitation the Additional Debt Securities, if any, or any Subordinated Debt, or cancel or forgive, make any voluntary or optional payment or prepayment on, or redeem or acquire for value (including, without limitation, by way of depositing with any trustee with respect thereto money or securities before due for the purpose of paying when due) any Subordinated Debt.

ARTICLE XII DEFAULT AND REMEDIES

SECTION 12.1. Events of Default. Each of the following shall constitute an Event of Default, whatever the reason for such event and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment or order of any court or any order, rule or regulation of any Governmental Authority or otherwise:

(a) Default in Payment of Principal of Loans and Reimbursement Obligations. The Borrower shall default in any payment of principal of any Loan or Reimbursement Obligation when and as due (whether at maturity, by reason of acceleration or otherwise).

(b) Other Payment Default. The Borrower shall default in the payment when and as due (whether at maturity, by reason of acceleration or otherwise) of interest on any Loan or Reimbursement Obligation or the payment of any other Obligation (other than any Obligation under any Hedging Agreement), and such default shall continue unremedied for three (3) Business Days.

(c) Misrepresentation. Any representation or warranty made or deemed to be made by the Credit Parties or any of their Subsidiaries, if applicable, under this Agreement, any Loan Document or any amendment hereto or thereto, shall at any time prove to have been incorrect or misleading in any material respect when made or deemed made.

(d) Default in Performance of Certain Covenants. Any of the Credit Parties shall default in the performance or observance of any covenant or agreement contained in Article X or XI of this Agreement.

(e) Default in Performance of Other Covenants and Conditions. Any of the Credit Parties or any Subsidiary thereof, if applicable, shall default in the performance or observance of any term, covenant, condition or agreement contained in this Agreement (other than as specifically provided for otherwise in this Section 12.1) or any other Loan Document and such default shall continue for a period of thirty (30) days after written notice thereof has been given to the Borrower by the Administrative Agent.

(f) Hedging Agreement. Any termination payments in an amount greater than $35,000,000 shall be due by any Credit Party under any Hedging Agreement and such amount is not paid within thirty (30) Business Days of the due date thereof.

(g) Debt Cross-Default. Any of the Credit Parties or any of their Subsidiaries shall (i) default in the payment of principal or interest on any Debt (other than the Loans or any Reimbursement Obligation) the aggregate outstanding amount of which Debt is in excess of $35,000,000, including, without limitation, the obligations under the Five-Year Credit Agreement, beyond the period of grace if any, provided in the instrument or agreement under which such Debt was created, or (ii) default in the observance or performance of any other agreement or condition relating to any Debt (other than the Loans or any Reimbursement Obligation), including, without limitation, the obligations under the Five-Year Credit Agreement and any other documents executed in connection therewith, the aggregate outstanding amount of which Debt is in excess of $35,000,000 or contained in any instrument or agreement evidencing, securing or relating thereto or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Debt (or a trustee or agent on behalf of such holder or holders) to cause, with the giving of notice if required, any such Debt to become due prior to its stated maturity (any applicable grace period having expired).

(h) Change in Control. Any person or group of persons (within the meaning of Section 13(d) of the Securities Exchange Act of 1934, as amended), other than a Credit Party or any Subsidiary thereof, shall obtain ownership or control in one or more series of transactions of more than thirty-three and one-third percent (33.33%) of the common stock or thirty-three and one-third percent (33.33%) of the voting power of any Credit Party entitled to vote in the election of members of the Board of Directors of such Credit Party or there shall have occurred under any indenture or other instrument evidencing any debt in excess of $35,000,000 any “change in control” (as defined in such indenture or other evidence of debt) obligating the Borrower to repurchase, redeem or repay all or any part of the debt or capital stock provided for therein (any such event, a “Change in Control”). Further, except as set forth in Section 11.5, Jones Apparel Group shall at all times own 100% of the capital stock of Jones Apparel Group Holdings and Jones Apparel Group Holdings shall at all times own 100% of the capital stock of the Borrower.

(i) Voluntary Bankruptcy Proceeding. Any Credit Party or any Subsidiary thereof shall (i) commence a voluntary case under the federal bankruptcy laws (as now or hereafter in effect), (ii) file a petition seeking to take advantage of any other laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding up or composition for adjustment of debts, (iii) consent to or fail to contest in a timely and appropriate manner any petition filed against it in an involuntary case under such bankruptcy laws or other laws, (iv) apply for or consent to, or fail to contest in a timely and appropriate manner, the appointment of, or the taking of possession by, a receiver, custodian, trustee, or liquidator of itself or of a substantial part of its property, domestic or foreign, (v) admit in writing its inability to pay its debts as they become due, (vi) make a general assignment for the benefit of creditors, or (vii) take any corporate action for the purpose of authorizing any of the foregoing.

(j) Involuntary Bankruptcy Proceeding. A case or other proceeding shall be commenced against any Credit Party or any Subsidiary thereof in any court of competent jurisdiction seeking (i) relief under the federal bankruptcy laws (as now or hereafter in effect) or under any other laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding up or adjustment of debts, or (ii) the appointment of a trustee, receiver, custodian, liquidator or the like for any Credit Party or any Subsidiary thereof or for all or any substantial part of their respective assets, domestic or foreign, and such case

or proceeding shall continue without dismissal or stay for a period of sixty (60) consecutive days, or an order granting the relief requested in such case or proceeding (including, but not limited to, an order for relief under such federal bankruptcy laws) shall be entered.

(k) [Reserved]

(l) Termination Event. The occurrence of any of the following events: (i) the Borrower or any ERISA Affiliate fails to make full payment to an Employee Benefit Plan when due (after giving effect to any applicable grace period) of contributions in excess of $2,000,000, (ii) an accumulated funding deficiency in excess of $2,000,000 occurs or exists, whether or not waived, with respect to any Pension Plan or (iii) a Termination Event that could reasonably be expected to result in liability in excess of $5,000,000 to the Borrower or any ERISA Affiliate.

(m) Judgment. A judgment or order for the payment of money which causes the aggregate amount of all such judgments to exceed $35,000,000 in any Fiscal Year shall be entered against any Credit Party or any Subsidiary thereof by any court and such judgment or order shall continue without discharge or stay for a period of thirty (30) days.

SECTION 12.2. Remedies. Upon the occurrence of an Event of Default, with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent shall, by notice to the Credit Parties:

(a) Acceleration; Termination of Facilities. Declare the principal of and interest on the Loans, the Reimbursement Obligations at the time outstanding, and all other amounts owed to the Lenders and to the Administrative Agent under this Agreement or any of the other Loan Documents (other than any Hedging Agreement) (including, without limitation, all L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) and all other Obligations (other than Obligations owing under any Hedging Agreement), to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived, anything in this Agreement or the other Loan Documents to the contrary notwithstanding, and terminate the Credit Facility and any right of the Borrower to request borrowings or Letters of Credit thereunder; provided, that upon the occurrence of an Event of Default specified in Section 12.1(i) or (j) with respect to the Credit Parties, the Credit Facility shall be automatically terminated and all Obligations (other than obligations owing under any Hedging Agreement) shall automatically become due and payable.

(b) Letters of Credit. With respect to all Letters of Credit with respect to which presentment for honor shall not have occurred at the time of an acceleration pursuant to the preceding paragraph, require the Borrower at such time to deposit or cause to be deposited in a cash collateral account opened by the Administrative Agent an amount equal to the Dollar Amount of the aggregate then undrawn and unexpired amount of such Letters of Credit. Amounts held in such cash collateral account shall be applied by the Administrative Agent to the payment of drafts drawn under such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall have expired or been fully drawn upon, if any, shall be applied to repay the other Obligations. After all such Letters

of Credit shall have expired or been fully drawn upon, the Reimbursement Obligation shall have been satisfied and all other Obligations shall have been paid in full, the balance, if any, in such cash collateral account shall be promptly returned to the Borrower.

(c) Rights of Collection. Exercise on behalf of the Lenders all of its other rights and remedies under this Agreement, the other Loan Documents and Applicable Law, in order to satisfy all of the Obligations.

SECTION 12.3. Rights and Remedies Cumulative; Non-Waiver; Etc. The enumeration of the rights and remedies of the Administrative Agent and the Lenders set forth in this Agreement is not intended to be exhaustive and the exercise by the Administrative Agent and the Lenders of any right or remedy shall not preclude the exercise of any other rights or remedies, all of which shall be cumulative, and shall be in addition to any other right or remedy given hereunder or under the Loan Documents or that may now or hereafter exist in law or in equity or by suit or otherwise. No delay or failure to take action on the part of the Administrative Agent or any Lender in exercising any right, power or privilege shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or privilege preclude other or further exercise thereof or the exercise of any other right, power or privilege or shall be construed to be a waiver of any Event of Default. No course of dealing between the Credit Parties, the Administrative Agent and the Lenders or their respective agents or employees shall be effective to change, modify or discharge any provision of this Agreement or any of the other Loan Documents or to constitute a waiver of any Event of Default.

ARTICLE XIII THE ADMINISTRATIVE AGENT

SECTION 13.1. Appointment. Each of the Lenders hereby irrevocably designates and appoints Wachovia as Administrative Agent of such Lender under this Agreement and the other Loan Documents for the term hereof and each such Lender irrevocably authorizes Wachovia as Administrative Agent for such Lender, to take such action on its behalf under the provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such duties as are expressly delegated to the Administrative Agent by the terms of this Agreement and such other Loan Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement or such other Loan Documents, the Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein and therein, or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or the other Loan Documents or otherwise exist against the Administrative Agent. Any reference to the Administrative Agent in this Article XIII shall be deemed to refer to the Administrative Agent solely in its capacity as Administrative Agent and not in its capacity as a Lender.

SECTION 13.2. Delegation of Duties. The Administrative Agent may execute any of its respective duties under this Agreement and the other Loan Documents by or through agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. The Administrative Agent shall not be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by the Administrative Agent with reasonable care.

SECTION 13.3. Exculpatory Provisions. Neither the Administrative Agent nor any of its officers, directors, employees, agents, attorneys-in-fact, Subsidiaries or Affiliates shall be (a) liable for any action lawfully taken or omitted to be taken by it or such Person under or in

connection with this Agreement or the other Loan Documents (except for actions occasioned solely by its or such Person’s own gross negligence or willful misconduct), or (b) responsible in any manner to any of the Lenders for any recitals, statements, representations or warranties made by the Borrower or any of its Subsidiaries or any officer thereof contained in this Agreement or the other Loan Documents or in any certificate, report, statement or other document referred to or provided for in, or received by the Administrative Agent under or in connection with, this Agreement or the other Loan Documents or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or the other Loan Documents or for any failure of the Borrower or any of its Subsidiaries to perform its obligations hereunder or thereunder. The Administrative Agent shall not be under any obligation to any Lender to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement, or to inspect the properties, books or records of the Borrower or any of its Subsidiaries.

SECTION 13.4. Reliance by the Administrative Agent. The Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Administrative Agent. The Administrative Agent may deem and treat the holder of any Revolving Credit Loan as the owner thereof for all purposes unless such Revolving Credit Loan shall have been transferred in accordance with Section 14.10 hereof. The Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Required Lenders (or, when expressly required hereby or by the relevant other Loan Document, the Required Agreement Lenders or all the Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Required Lenders (or, when expressly required hereby, the Required Agreement Lenders or all the Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Loans.

SECTION 13.5. Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless it has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Administrative Agent receives such a notice, it shall promptly give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that unless and until the Administrative Agent shall have received such directions, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders, except to the extent that other provisions of this Agreement expressly require that any such action be taken or not be taken only with the consent and authorization or the request of the Lenders, the Required Agreement Lenders or Required Lenders, as applicable.

SECTION 13.6. Non-Reliance on the Administrative Agent and Other Lenders. Each Lender expressly acknowledges that neither the Administrative Agent nor any of its respective officers, directors, employees, agents, attorneys-in-fact, Subsidiaries or Affiliates has made any representations or warranties to it and that no act by the Administrative Agent hereinafter taken, including any review of the affairs of the Borrower or any of its Subsidiaries, shall be deemed to constitute any representation or warranty by the Administrative Agent to any Lender. Each Lender represents to the Administrative Agent that it has, independently and without reliance upon the Administrative Agent or any other Lender, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of the Borrower and its Subsidiaries and made its own decision to make its Loans and issue or participate in Letters of Credit hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Borrower and its Subsidiaries. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the Administrative Agent hereunder or by the other Loan Documents, the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, financial and other condition or creditworthiness of the Borrower or any of its Subsidiaries which may come into the possession of the Administrative Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact, Subsidiaries or Affiliates.

SECTION 13.7. Indemnification. The Lenders agree to indemnify the Administrative Agent in its capacity as such and (to the extent not reimbursed by the Borrower and without limiting the obligation of the Borrower to do so), ratably according to the respective amounts of their Revolving Credit Commitment Percentage from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever which may at any time (including, without limitation, at any time following the payment of the Loans or any Reimbursement Obligation) be imposed on, incurred by or asserted against the Administrative Agent in any way relating to or arising out of this Agreement or the other Loan Documents, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by the Administrative Agent under or in connection with any of the foregoing; provided that no Lender shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements to the extent they result from the Administrative Agent’s bad faith, gross negligence or willful misconduct. The agreements in this Section 13.7 shall survive the payment of the Loans, any Reimbursement Obligation and all other amounts payable hereunder and the termination of this Agreement.

SECTION 13.8. The Administrative Agent in Its Individual Capacity. The Administrative Agent and its respective Subsidiaries and Affiliates may make loans to, accept deposits from and generally engage in any kind of business with the Borrower as though the Administrative Agent were not an Administrative Agent hereunder. With respect to any Loans made or renewed by it and with respect to any Letter of Credit issued by it or participated in by it, the Administrative Agent shall have the same rights and powers under this Agreement and the other Loan Documents as any Lender and may exercise the same as though it were not an Administrative Agent, and the terms “Lender” and “Lenders” shall include the Administrative Agent in its individual capacity.

SECTION 13.9. Resignation of the Administrative Agent; Successor Administrative Agent. Subject to the appointment and acceptance of a successor as provided below, the Administrative Agent may resign at any time by giving notice thereof to the Lenders and the Credit Parties. Upon any such resignation, the Required Lenders shall have the right, subject to the approval of the Credit Parties (so long as no Default or Event of Default has occurred and is continuing), to appoint a successor Administrative Agent, which successor shall have minimum capital and surplus of at least $500,000,000. If no successor Administrative Agent shall have been so appointed by the Required Lenders, been approved (so long as no Default or Event of Default has occurred and is continuing) by the Credit Parties or have accepted such appointment within thirty (30) days after the Administrative Agent’s giving of notice of resignation, then the Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent reasonably acceptable to the Credit Parties (so long as no Default or Event of Default has occurred and is continuing), which successor shall have minimum capital and surplus of at least $500,000,000. Upon the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder. After any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of this Section 13.9 shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as Administrative Agent.

SECTION 13.10. Syndication and Documentation Agents. Each Syndication Agent in its capacity as Syndication Agent and each documentation agent in its capacity as documentation agent shall have no duties or responsibilities and no liabilities under this Agreement or any other Loan Document but shall be entitled, in such capacity, to the same protections afforded to the Administrative Agent under this Article XIII.

ARTICLE XIV MISCELLANEOUS

SECTION 14.1. Notices. (a) Method of Communication. Except as otherwise provided in this Agreement, all notices and communications hereunder shall be in writing, or by telephone subsequently confirmed in writing. Any notice shall be effective if delivered by hand delivery or sent via telecopy, recognized overnight courier service or certified mail, return receipt requested, and shall be presumed to be received by a party hereto (i) on the date of delivery if delivered by hand or sent by telecopy, (ii) on the next Business Day if sent by recognized overnight courier service and (iii) on the third (3^rd) Business Day following the date sent by certified mail, return receipt requested. A telephonic notice to the Administrative Agent as understood by the Administrative Agent will be deemed to be the controlling and proper notice in the event of a discrepancy with or failure to receive a confirming written notice.

(b) Addresses for Notices. Notices to any party shall be sent to it at the following addresses, or any other address as to which all the other parties are notified in writing.

If to the Credit Parties:

Jones Apparel Group, Inc.
250 Rittenhouse Circle
Bristol, Pennsylvania 19007
Attention: Chief Financial Officer
Telephone No.: (215) 785-4000
Telecopy No.: (215) 785-1228

If to Wachovia:

Wachovia Bank, National Association
Administrative Agent:
201 South College Street, CP-8
Charlotte, NC 28288-0680
Attention: Syndication Agency Services
Telephone No: 704-715-1353
Telecopy No: 704-383-0288

With copies to:

Wachovia Bank, National Association
Administrative Agent:
1339 Chestnut Street, PA4830
Philadelphia, PA 19107
Attention: Susan T. Gallagher
Telephone No: 267-321-6712
Telecopy No: 267-321-6700

If to any Lender:

To the Address set forth on Schedule 1.1(a) hereto

(c) Administrative Agent’s Office. The Administrative Agent hereby designates its office located at the address set forth above, or any subsequent office which shall have been specified for such purpose by written notice to the Borrower and the Lenders, as the Administrative Agent’s Office referred to herein, to which payments due are to be made and at which Loans will be disbursed.

SECTION 14.2. Expenses; Indemnity. The Borrower will (a) pay all reasonable out-of-pocket expenses of the Administrative Agent in connection with (i) the preparation, execution and delivery of this Agreement and each other Loan Document, whenever the same shall be executed and delivered, including without limitation the reasonable out-of-pocket syndication and due diligence expenses and reasonable fees and disbursements of counsel for the Administrative Agent and (ii) the preparation, execution and delivery of any waiver, amendment or consent by the Administrative Agent or the Lenders relating to this Agreement or any other Loan Document, including without limitation reasonable fees and disbursements of counsel for the Administrative Agent, (b) pay all reasonable out-of-pocket expenses of the Administrative Agent actually incurred in connection with the administration of the Credit Facility, (c) pay all reasonable out-of-pocket expenses of the Administrative Agent and each Lender actually incurred in connection with the enforcement of any rights and remedies of the Administrative Agent and the Lenders under the Credit Facility, including to the extent reasonable under the circumstances consulting with accountants, attorneys and other Persons concerning the nature, scope or value of any right or remedy of the Administrative Agent or any Lender hereunder or under any other Loan Document or any factual matters in connection therewith, which expenses shall include without limitation the reasonable fees and disbursements of such Persons, and (d) defend, indemnify and hold harmless the Administrative Agent and the Lenders, and their respective parents, Subsidiaries, Affiliates, employees, Administrative Agents, officers and directors, from and against any losses, penalties, fines, liabilities, settlements, damages, costs and expenses, suffered by any such Person in connection with any claim, investigation, litigation or other proceeding

(whether or not the Administrative Agent or any Lender is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with this Agreement, any other Loan Document or the Loans, including without limitation reasonable attorney’s and consultant’s fees, except to the extent that any of the foregoing result from the gross negligence or willful misconduct of any indemnified party.

SECTION 14.3. Set-off. In addition to any rights now or hereafter granted under Applicable Law and not by way of limitation of any such rights, upon and after the occurrence of any Event of Default and during the continuance thereof, the Lenders and any assignee or participant of a Lender in accordance with Section 14.10 are hereby authorized by the Credit Parties at any time or from time to time, without notice to the Credit Parties or to any other Person, any such notice being hereby expressly waived, to set off and to appropriate and to apply any and all deposits (general or special, time or demand, including, but not limited to, indebtedness evidenced by certificates of deposit, whether matured or unmatured) and any other indebtedness at any time held or owing by the Lenders, or any such assignee or participant to or for the credit or the account of the Borrower against and on account of the Obligations irrespective of whether or not (a) the Lenders shall have made any demand under this Agreement or any of the other Loan Documents or (b) the Administrative Agent shall have declared any or all of the Obligations to be due and payable as permitted by Section 12.2 and although such Obligations shall be contingent or unmatured.

SECTION 14.4. Governing Law. This Agreement, the Notes and the other Loan Documents, unless otherwise expressly set forth therein, shall be governed by, construed and enforced in accordance with the laws of the State of New York.

SECTION 14.5. Consent to Jurisdiction. Each of the parties hereto hereby irrevocably consents to the personal jurisdiction of the state and federal courts located in New York County, New York, in any action, claim or other proceeding arising out of any dispute in connection with this Agreement and the other Loan Documents, any rights or obligations hereunder or thereunder, or the performance of such rights and obligations. Each of the parties hereto hereby irrevocably consents to the service of a summons and complaint and other process in any action, claim or proceeding brought by any other party hereto in connection with this Agreement or the other Loan Documents, any rights or obligations hereunder or thereunder, or the performance of such rights and obligations, on behalf of itself or its property, in the manner specified in Section 14.1. Nothing in this Section 14.5 shall affect the right of any of the parties hereto to serve legal process in any other manner permitted by Applicable Law or affect the right of any of the parties hereto to bring any action or proceeding against any other party hereto or its properties in the courts of any other jurisdictions.

SECTION 14.6. Waiver of Jury Trial. THE ADMINISTRATIVE AGENT, EACH LENDER AND EACH CREDIT PARTY HEREBY ACKNOWLEDGE THEY IRREVOCABLY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL WITH RESPECT TO ANY ACTION, CLAIM OR OTHER PROCEEDING ARISING OUT OF ANY JUDICIAL PROCEEDING, ANY DISPUTE, CLAIM OR CONTROVERSY ARISING OUT OF, CONNECTED WITH OR RELATING TO THE LOAN DOCUMENTS (“Dispute”) IN CONNECTION WITH THIS AGREEMENT, THE NOTES OR THE OTHER LOAN DOCUMENTS, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR THEREUNDER, OR THE PERFORMANCE OF SUCH RIGHTS AND OBLIGATIONS.

SECTION 14.7. Reversal of Payments. To the extent any Credit Party makes a payment or payments to the Administrative Agent for the ratable benefit of the Lenders or the Administrative

Agent receives any payment or proceeds of the collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by the Administrative Agent.

SECTION 14.8. Injunctive Relief; Punitive Damages. (a) Each of the parties to this Agreement recognizes that, in the event such party fails to perform, observe or discharge any of its obligations or liabilities under this Agreement, any remedy of law may prove to be inadequate relief to the other parties hereto. Therefore, each of the parties hereto agrees that the other parties hereto, at such other party’s option, shall be entitled to pursue temporary and permanent injunctive relief in any such case without the necessity of proving actual damages.

(b) The Administrative Agent, the Lenders and the Credit Parties (on behalf of themselves and their Subsidiaries) hereby agree that no such Person shall have a remedy of punitive or exemplary damages against any other party to a Loan Document and each such Person hereby waives any right or claim to punitive or exemplary damages that they may now have or may arise in the future in connection with any Dispute, whether such Dispute is resolved through arbitration or judicially.

SECTION 14.9. Accounting Matters. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time, provided that, if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance therewith.

SECTION 14.10. Successors and Assigns; Participations. (a) Benefit of Agreement. This Agreement shall be binding upon and inure to the benefit of the Credit Parties, the Administrative Agent and the Lenders, all future holders of the Notes, and their respective successors and permitted assigns, except that the Borrower shall not assign or transfer any of its rights or obligations under this Agreement without the prior written consent of each Lender other than pursuant to Section 11.5.

(b) Assignment by Lenders. Each Lender may, with the consent of the Borrower (so long as no Default or Event of Default has occurred and is continuing) and the consent of the Administrative Agent, which consents shall not be unreasonably withheld or delayed, assign to one or more Eligible Assignees all or a portion of its interests, rights and obligations under this Agreement (including, without limitation, all or a portion of the Extensions of Credit (other than Competitive Bid Loans) at the time owing to it and the Revolving Credit Notes held by it); provided that:

(i) each such assignment shall be of a constant, and not a varying, percentage of all the assigning Lender’s Revolving Credit Commitment and all other

rights and obligations under this Agreement (other than any right to make Competitive Bid Loans, Competitive Bid Loans owing to it and Competitive Bid Notes);

(ii) if less than all of the assigning Lender’s Revolving Credit Commitment or Revolving Credit Loans is to be assigned, the Revolving Credit Commitment or Revolving Credit Loans so assigned shall not be less than $5,000,000;

(iii) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance in the form of Exhibit G attached hereto (an “Assignment and Acceptance”), together with any Revolving Credit Note or Revolving Credit Notes subject to such assignment;

(iv) such assignment shall not, without the consent of the Borrower, on behalf of itself and the other Credit Parties, require the Borrower, or any other Credit Party, to file a registration statement with the Securities and Exchange Commission or apply to or qualify the Revolving Credit Loans or the Revolving Credit Notes under the blue sky laws of any state;

(v) the assigning Lender shall pay to the Administrative Agent an assignment fee of $3,000 upon the execution by such Lender of the Assignment and Acceptance; provided that no such fee shall be payable upon any assignment by a Lender to an Affiliate thereof; and

(vi) no consents will be required for assignments where the Eligible Assignee is an Affiliate of the assigning Lender.

Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least ten (10) Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto and, to the extent of the interest assigned in such Assignment and Acceptance, have the rights and obligations of a Lender hereby and (B) the Lender thereunder shall, to the extent of the interest assigned in such assignment, be released from its obligations under this Agreement.

(c) Rights and Duties upon Assignment. By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder and the assignee thereunder confirm to and agree with each other and the other parties hereto as set forth in such Assignment and Acceptance.

(d) Register. The Administrative Agent shall maintain a copy of each Assumption Agreement and each Assignment and Acceptance delivered to it and record the names and addresses of the Lenders and the amount of the Extensions of Credit with respect to each Lender from time to time in the Register.

No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. The entries in the Register shall be conclusive, in the absence of manifest error, and the Borrower, the Administrative Agent and the Lenders may treat each person whose name is recorded in the Register as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower or any Lender at any reasonable time and from time to time upon reasonable prior notice.

(e) Issuance of New Revolving Credit Notes. Upon its receipt of an Assignment and Acceptance executed by an assigning Lender and an Eligible Assignee together with any Revolving Credit Note or Revolving Credit Notes if any have been issued pursuant to this Agreement, subject to such assignment and the written consent to such assignment, the Administrative Agent shall, if such Assignment and Acceptance has been completed and is substantially in the form of Exhibit G:

(i) accept such Assignment and Acceptance;

(ii) record the information contained therein in the Register;

(iii) give prompt notice thereof to the Lenders and the Borrower, on behalf of itself and the other Credit Parties; and

(iv) promptly deliver a copy of such Assignment and Acceptance to the Borrower.

Within ten (10) Business Days after receipt of notice, if requested by the Eligible Assignee the Borrower shall execute and deliver to the Administrative Agent, in exchange for the surrendered Revolving Credit Note or Revolving Credit Notes, a new Revolving Credit Note or Revolving Credit Notes to the order of such Eligible Assignee in amounts equal to the Revolving Credit Commitment assumed by it pursuant to such Assignment and Acceptance and a new Revolving Credit Note or Revolving Credit Notes to the order of the assigning Lender in an amount equal to the Revolving Credit Commitment retained by it hereunder. Such new Revolving Credit Note or Revolving Credit Notes shall be in an aggregate principal amount equal to the aggregate principal amount of such surrendered Revolving Credit Note or Revolving Credit Notes, shall be dated the effective date of such Assignment and Acceptance and shall otherwise be in substantially the form of the assigned Revolving Credit Notes delivered to the assigning Lender. Each surrendered Revolving Credit Note or Revolving Credit Notes shall be canceled and returned to the Borrower.

(f) Participations. Each Lender may sell participations to one or more banks or other entities in all or a portion of its rights and/or obligations under this Agreement (including, without limitation, all or a portion of its Extensions of Credit and the Notes held by it); provided that:

(i) each such participation shall be in an amount not less than $5,000,000;

(ii) such Lender’s obligations under this Agreement (including, without limitation, its Revolving Credit Commitment) shall remain unchanged;

(iii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations;

(iv) the Credit Parties, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement;

(v) such Lender shall not permit such participant the right to approve any waivers, amendments or other modifications to this Agreement or any other Loan Document other than waivers, amendments or modifications which would reduce the

principal of or the interest rate on any Revolving Credit Loan or Reimbursement Obligation, extend the term or increase the amount of the Revolving Credit Commitment, reduce the amount of any fees to which such participant is entitled, or extend any scheduled payment date for principal, interest or fees of any Revolving Credit Loan, except as expressly contemplated hereby or thereby; and

(vi) any such disposition shall not, without the consent of the Borrower, on behalf of itself and the other Credit Parties, require the Borrower or any other Credit Party, to file a registration statement with the Securities and Exchange Commission or apply to or qualify the Revolving Credit Loans or the Revolving Credit Notes under the blue sky law of any state.

(g) Disclosure of Information; Confidentiality. Each of the Administrative Agent, the Issuing Lenders and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors and representatives (collectively, “Representatives”) (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory authority, (c) to the extent required by Applicable Laws or regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement, (g) with the prior written consent of the Credit Parties, (h) to the extent such Information (A) becomes publicly available other than as a result of a breach of this Section or (B) becomes available to the Administrative Agent, the Issuing Lenders or any Lender on a nonconfidential basis from a source other than the Credit Parties or (i) to Gold Sheets and other similar bank trade publications, such information to consist of deal terms and other information (customarily found in such publications) upon the Credit Parties’ prior review and approval, which shall not be unreasonably withheld or delayed. For the purposes of this Section, “Information” means all information received from the Credit Parties or any of their Subsidiaries relating to the Credit Parties or their business, other than any such information that is available to the Administrative Agent, any Issuing Lender or any Lender on a nonconfidential basis prior to disclosure by the Credit Parties; provided that, in the case of information received from the Credit Parties after the Closing Date (other than certificates or other information specifically required by the terms of this Agreement), such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information.

(h) Special Purpose Funding Vehicles. Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special purpose funding vehicle organized for the specific purpose of making or acquiring participations or investing in loans of the type made pursuant to this Agreement (a “SPC”), correctly identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower, the option to provide to the Borrower all or any part of any Extension of Credit that such Lender would otherwise be obligated to make to the Borrower pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to make any Extension of Credit and

(ii) if an SPC elects not to exercise such option or otherwise fails to provide all or any part of such Extension of Credit, the Granting Lender shall be obligated to make such Extension of Credit pursuant to the terms hereof. The making of an Extension of Credit by an SPC hereunder shall utilize the Revolving Credit Commitment of the Granting Lender to the same extent, and as if, such Extension of Credit were made by such Granting Lender. Each party hereto hereby agrees that no SPC shall be liable for any indemnity or similar payment obligation under this Agreement (all liability for which shall remain with the Granting Lender). In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPC, it will not institute against, or join any other person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the laws of the United States or any State thereof. In addition, notwithstanding anything to the contrary contained in this clause, any SPC may (i) with notice to, but without the prior written consent of, the Borrower and the Administrative Agent and without paying any processing fee therefor, assign all or a portion of its interest in any Extension of Credit to the Granting Lender or to any financial institution (consented to by the Borrower and Administrative Agent) providing liquidity and/or credit support to or for the account of such SPC to support the funding or maintenance of Extensions of Credit and (ii) disclose on a confidential basis any non-public information relating to Extensions of Credit to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity enhancement to such SPC. This clause may not be amended without the written consent of each SPC.

(i) Certain Pledges or Assignments. Nothing herein shall prohibit any Lender from pledging or assigning any Note to any Federal Reserve Bank in accordance with Applicable Law.

SECTION 14.11. Amendments, Waivers and Consents. Except as set forth below, any term, covenant, agreement or condition of this Agreement or any of the other Loan Documents may be amended or waived by the Lenders, and any consent given by the Lenders, if, but only if, (a) in the case of an amendment, waiver or consent for which a substantially similar corresponding amendment, waiver or consent with regard to the Five-Year Credit Agreement will be made effective thereunder contemporaneously, such amendment, waiver or consent is in writing signed by the Required Lenders (or by the Administrative Agent with the consent of the Required Lenders) and delivered to the Administrative Agent and, in the case of an amendment, signed by the Credit Parties and (b) in the case of any other amendment, waiver or consent specifically impacting only this Agreement and the other Loan Documents, such amendment, waiver or consent is in writing signed by the Required Agreement Lenders (or by the Administrative Agent with the consent of the Required Agreement Lenders) and delivered to the Administrative Agent and, in the case of an amendment, signed by the Credit Parties; provided, in each case, that:

(a) no amendment, waiver or consent shall (i) release any of the Credit Parties, (ii) increase the amount or extend the time of the obligation of the Lenders to make Revolving Credit Loans or issue or participate in Letters of Credit, (iii) extend the originally scheduled time or times of payment of the principal of any Revolving Credit Loan or Reimbursement Obligation or the time or times of payment of interest or fees on any Revolving Credit Loan or Reimbursement Obligation, (iv) reduce the rate of interest or fees payable on any Revolving Credit Loan or Reimbursement Obligation, (v) reduce the principal amount of any Revolving Credit Loan or Reimbursement Obligation, (vi) permit any subordination of the principal or interest on any Revolving Credit Loan or Reimbursement Obligation, (vii) permit any assignment (other than as specifically

SECTION 14.12. Performance of Duties. The Credit Parties’ obligations under this Agreement and each of the Loan Documents shall be performed by the Credit Parties at their sole cost and expense.

SECTION 14.13. All Powers Coupled with Interest. All powers of attorney and other authorizations granted to the Lenders, the Administrative Agent and any Persons designated by the Administrative Agent or any Lender pursuant to any provisions of this Agreement or any of the other Loan Documents shall be deemed coupled with an interest and shall be irrevocable so long as any of the Obligations remain unpaid or unsatisfied or the Credit Facility has not been terminated.

SECTION 14.14. Survival of Indemnities. Notwithstanding any termination of this Agreement, the indemnities to which the Administrative Agent and the Lenders are entitled under the provisions of this Article XIV and any other provision of this Agreement and the Loan Documents shall continue in full force and effect and shall protect the Administrative Agent and the Lenders against events arising after such termination as well as before.

SECTION 14.15. Titles and Captions. Titles and captions of Articles, Sections and subsections in this Agreement are for convenience only, and neither limit nor amplify the provisions of this Agreement.

SECTION 14.16. Severability of Provisions. Any provision of this Agreement or any other Loan Document which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective only to the extent of such prohibition or unenforceability without invalidating the remainder of such provision or the remaining provisions hereof or thereof or affecting the validity or enforceability of such provision in any other jurisdiction.

SECTION 14.17. Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and shall be binding upon all parties, their successors and assigns, and all of which taken together shall constitute one and the same agreement. Delivery of any executed counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement.

SECTION 14.18. Term of Agreement. This Agreement shall remain in effect from the Closing Date through and including the date upon which all Obligations (other than obligations owing by any Credit Party to any Lender or Affiliate of a Lender or the Administrative Agent under any Hedging Agreement) shall have been indefeasibly and irrevocably paid and satisfied in full. No termination of this Agreement shall affect the rights and obligations of the parties hereto arising prior to such termination.

SECTION 14.19. Inconsistencies with Other Documents; Independent Effect of Covenants. (a) In the event there is a conflict or inconsistency between this Agreement and any other Loan Document, the terms of this Agreement shall control.

(b) The Borrower expressly acknowledges and agrees that each covenant contained in Article IX, X, or XI hereof shall be given independent effect.

SECTION 14.20. Patriot Act. Each Lender hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies each

EXHIBIT A-1 — FORM OF
REVOLVING CREDIT NOTE

$ , 200

FOR VALUE RECEIVED, the undersigned JONES APPAREL GROUP USA, INC., a corporation organized under the laws of Pennsylvania, (the “Borrower”), JONES APPAREL GROUP, INC., a corporation organized under the laws of Pennsylvania, JONES APPAREL GROUP HOLDINGS, INC., a corporation organized under the laws of Delaware, KASPER, LTD., a corporation organized under the laws of Delaware, JONES RETAIL CORPORATION, a corporation organized under the laws of New Jersey, and NINE WEST FOOTWEAR CORPORATION, a corporation organized under the laws of Delaware (collectively, with the Borrower, the “Debtors”), hereby jointly and severally promise to pay to the order of , (the “Lender”), at the place and times provided in the Credit Agreement referred to below, the principal sum of DOLLARS ($ ) or, if less, the aggregate unpaid principal amount of all Revolving Credit Loans made to the Borrower by the Lender pursuant to that certain Amended and Restated Five-Year Credit Agreement dated as of May 16, 2005 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”) by and among Jones Apparel Group USA, Inc., the Additional Obligors referred to therein, the Lenders who are or may become a party thereto (collectively, the “Lenders”), J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as Co-Lead Arrangers and Joint Bookrunners, Wachovia Bank, National Association, as Administrative Agent, and JPMorgan Chase Bank, N.A. and Citibank, N.A., as Syndication Agents, and Bank of America, N.A., Barclays Bank plc and SunTrust Bank, as Documentation Agents. Capitalized terms used herein and not defined herein shall have the meanings assigned thereto in the Credit Agreement.

The unpaid principal amount of Revolving Credit Loans from time to time outstanding is subject to mandatory repayment from time to time as provided in the Credit Agreement and shall bear interest as provided in Section 5.1 of the Credit Agreement. All payments of principal and interest on Revolving Credit Loans shall be payable in lawful currency of the United States of America in immediately available funds to the account designated in the Credit Agreement.

This Revolving Credit Note (the “Revolving Credit Note”) is entitled to the benefits of, and evidences Obligations incurred under, the Credit Agreement, to which reference is made for a statement of the terms and conditions on which the Borrower is permitted and required to make prepayments and repayments of principal of the Obligations evidenced by this Revolving Credit Note and on which such Obligations may be declared to be immediately due and payable.

THIS REVOLVING CREDIT NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE CONFLICTS OR CHOICE OF LAW PRINCIPLES THEREOF.

The Debt evidenced by this Revolving Credit Note is senior in right of payment to all Subordinated Debt referred to in the Credit Agreement.

EXHIBIT A-2 — FORM OF
COMPETITIVE BID
PROMISSORY NOTE



U.S.$		Dated: , 200

FOR VALUE RECEIVED, the undersigned JONES APPAREL GROUP USA, INC., a corporation organized under the laws of Pennsylvania, (the “Borrower”), JONES APPAREL GROUP, INC., a corporation organized under the laws of Pennsylvania, JONES APPAREL GROUP HOLDINGS, INC., a corporation organized under the laws of Delaware, KASPER, LTD., a corporation organized under the laws of Delaware, JONES RETAIL CORPORATION, a corporation organized under the laws of New Jersey, and NINE WEST FOOTWEAR CORPORATION, a corporation organized under the laws of Delaware (collectively, with the Borrower, the “Debtors”), hereby jointly and severally promise to pay to the order of , (the “Lender”), at the place and times provided in that certain Amended and Restated Five-Year Credit Agreement dated as of May 16, 2005 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”) by and among Jones Apparel Group USA, Inc., the Additional Obligors referred to therein, the Lenders who are or may become a party thereto (collectively, the “Lenders”), J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as Co-Lead Arrangers and Joint Bookrunners, Wachovia Bank, National Association, as Administrative Agent, and JPMorgan Chase Bank, N.A. and Citibank, N.A., as Syndication Agents, and Bank of America, N.A., Barclays Bank plc and SunTrust Bank, as Documentation Agents (as amended or modified from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined)), on , 200 , the principal amount of [U.S.$ ] [for a Competitive Bid Loan in an Alternative Currency, list currency and amount of such Loan].

The undersigned promise to pay interest on the unpaid principal amount hereof from the date hereof until such principal amount is paid in full, at the interest rate and payable on the interest payment date or dates provided below:

Interest Rate: % per annum (calculated on the basis of a year of days for the actual number of days elapsed) (revise as appropriate for a Floating Rate Loan).

Both principal and interest are payable in lawful money of to Wachovia Bank, National Association, as administrative agent, for the account of the Lender at its office, at in same day funds.

This Promissory Note is one of the Competitive Bid Notes referred to in, and is entitled to the benefits of, the Credit Agreement. The Credit Agreement, among other things, contains provisions for acceleration of the maturity hereof upon the happening of certain stated events.

THIS COMPETITIVE BID NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE CONFLICTS OR CHOICE OF LAW PRINCIPLES THEREOF.

EXHIBIT B-1 — FORM OF
NOTICE OF REVOLVING CREDIT BORROWING

NOTICE OF REVOLVING CREDIT BORROWING

Dated as of:

Wachovia Bank, National Association,
as Administrative Agent
One First Union Center, TW-4
301 South College Street
Charlotte, North Carolina 28288-0608
Attention: Syndication Agency Services

Ladies and Gentlemen:

This irrevocable Notice of Revolving Credit Borrowing is delivered to you under Section 2.2(a) of the Amended and Restated Five-Year Credit Agreement dated as of May 16, 2005 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”), by and among JONES APPAREL GROUP USA, INC., a Pennsylvania corporation (the “Borrower”), the Additional Obligors referred to therein, the lenders party thereto (the “Lenders”), J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as Co-Lead Arrangers and Joint Bookrunners, Wachovia Bank, National Association, as Administrative Agent, and JPMorgan Chase Bank, N.A. and Citibank, N.A., as Syndication Agents, and Bank of America, N.A., Barclays Bank plc and SunTrust Bank, as Documentation Agents.

1. The Borrower hereby requests that the Lenders make a Revolving Credit Loan to the Borrower in the aggregate principal amount of $ . (Complete with an amount in accordance with Section 2.2(a) of the Credit Agreement.)

2. The Borrower hereby requests that such Revolving Credit Loan be made on the following Business Day: . (Complete with a Business Day in accordance with Section 2.2(a) of the Credit Agreement).

3. The Borrower hereby requests that the Revolving Credit Loan bear interest at the following interest rate, plus the Applicable Margin, as set forth below:

4. The principal Dollar Amount of all Revolving Credit Loans and L/C Obligations outstanding as of the date hereof (including the requested Revolving Credit Loan) does not exceed the maximum Dollar Amount permitted to be outstanding pursuant to the terms of the Credit Agreement.

EXHIBIT B-2 — FORM OF NOTICE OF

COMPETITIVE BID BORROWING

Dated as of:

Wachovia Bank, National Association,
as Administrative Agent
One First Union Center, TW-4
301 South College Street
Charlotte, North Carolina 28288-0608
Attention: Syndication Agency Services

Ladies and Gentlemen:

The undersigned, JONES APPAREL GROUP USA, INC., refers to the Amended and Restated Five-Year Credit Agreement dated as of May 16, 2005 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”), by and among JONES APPAREL GROUP USA, INC., a Pennsylvania corporation (the “Borrower”), the Additional Obligors referred to therein, the lenders party thereto (the “Lenders”), J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as Co-Lead Arrangers and Joint Bookrunners, Wachovia Bank, National Association, as Administrative Agent, and JPMorgan Chase Bank, N.A. and Citibank, N.A., as Syndication Agents, and Bank of America, N.A., Barclays Bank plc and SunTrust Bank, as Documentation Agents, and hereby gives you notice, irrevocably, pursuant to Section 4.1 of the Credit Agreement that the undersigned hereby requests a Competitive Bid Borrowing under the Credit Agreement, and in that connection sets forth the terms on which such Competitive Bid Borrowing (the “Proposed Competitive Bid Borrowing”) is requested to be made:


		(A)		Date of Competitive Bid Borrowing

		(B)		Amount of Competitive Bid Borrowing

		(C)		[Maturity Date] [Interest Period]

		(D)		Interest Rate Basis

		(E)		Day Count Convention

		(F)		Interest Payment Date(s)

		(G)		Currency

		(H)		Borrower’s Account Location

		(I)

Capitalized terms used herein and not defined herein shall have the meanings assigned thereto in the Credit Agreement.

The undersigned hereby certifies that the following statements are true on the date hereof, and will be true on the date of the Proposed Competitive Bid Borrowing:

1. The principal Dollar Amount of all Loans and L/C Obligations outstanding as of the date hereof (including the requested Competitive Bid Loan) does not exceed the maximum Dollar Amount permitted to be outstanding pursuant to the terms of the Credit Agreement.

EXHIBIT C — FORM OF NOTICE OF
ACCOUNT DESIGNATION

NOTICE OF ACCOUNT DESIGNATION

Dated as of:

Wachovia Bank, National Association,
as Administrative Agent
One First Union Center, TW-4
301 South College Street
Charlotte, North Carolina 28288-0608
Attention: Syndication Agency Services

Ladies and Gentlemen:

This Notice of Account Designation is delivered to you under Section 2.2(b) of the Amended and Restated Five-Year Credit Agreement dated as of May 16, 2005 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”), by and among JONES APPAREL GROUP USA, INC., a Pennsylvania corporation (the “Borrower”), the Additional Obligors referred to therein, the lenders party thereto (the “Lenders”), J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as Co-Lead Arrangers and Joint Bookrunners, Wachovia Bank, National Association, as Administrative Agent (the “Administrative Agent”), and JPMorgan Chase Bank, N.A. and Citibank, N.A., as Syndication Agents, and Bank of America, N.A., Barclays Bank plc and SunTrust Bank, as Documentation Agents.

1. The Administrative Agent is hereby authorized to disburse all Loan proceeds into the following account(s):



		ABA Routing Number:
		Account Number:

2. This authorization shall remain in effect until revoked or until a subsequent Notice of Account Designation is provided by the Borrower to the Administrative Agent.

3. Capitalized terms used herein and not defined herein shall have the meanings assigned thereto in the Credit Agreement.

IN WITNESS WHEREOF, the undersigned has executed this Notice of Account Designation as of the day of , .


	JONES APPAREL GROUP USA, INC.
	By:
		Name:
		Title:

EXHIBIT D — FORM OF
NOTICE OF PREPAYMENT

NOTICE OF PREPAYMENT

Dated as of:

Wachovia Bank, National Association,
as Administrative Agent
One First Union Center
301 South College Street, TW-4
Charlotte, North Carolina 28288-0608
Attention: Syndication Agency Services

Ladies and Gentlemen:

This irrevocable Notice of Prepayment is delivered to you under Section 2.3(c) of the Amended and Restated Five-Year Credit Agreement dated as of May 16, 2005 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”) by and among JONES APPAREL GROUP USA, INC., a Pennsylvania corporation (the “Borrower”), the Additional Obligors referred to therein, the lenders party thereto (the “Lenders”), J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as Co-Lead Arrangers and Joint Bookrunners, Wachovia Bank, National Association, as Administrative Agent, and JPMorgan Chase Bank, N.A. and Citibank, N.A., as Syndication Agents, and Bank of America, N.A., Barclays Bank plc and SunTrust Bank, as Documentation Agents.

1. The Borrower hereby provides notice to the Administrative Agent that it shall repay the following [Base Rate Loans] and/or [LIBOR Rate Loans]: . (Complete with an amount in accordance with Section 2.3(c) of the Credit Agreement.)

2. The Borrower shall repay the above-referenced Revolving Credit Loans on the following Business Day: . (Complete in accordance with Section 2.3(c) of the Credit Agreement.)

3. Capitalized terms used herein and not defined herein shall have the meanings assigned thereto in the Credit Agreement.

IN WITNESS WHEREOF, the undersigned has executed this Notice of Prepayment as of the day of , .


	JONES APPAREL GROUP USA, INC.
	By:
		Name:
		Title:

EXHIBIT E — FORM OF
NOTICE OF CONVERSION/CONTINUATION

NOTICE OF CONVERSION/CONTINUATION

Dated as of:

Wachovia Bank, National Association,
as Administrative Agent
One First Union Center
301 South College Street, TW-4
Charlotte, North Carolina 28288-0608
Attention: Syndication Agency Services

Ladies and Gentlemen:

This irrevocable Notice of Conversion/Continuation (the “Notice”) is delivered to you under Section 5.2 of the Amended and Restated Five-Year Credit Agreement dated as of May 16, 2005 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”), by and among JONES APPAREL GROUP USA, INC., a Pennsylvania corporation (the “Borrower”), the Additional Obligors referred to therein, the lenders party thereto (the “Lenders”), J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as Co-Lead Arrangers and Joint Bookrunners, Wachovia Bank, National Association, as Administrative Agent, and JPMorgan Chase Bank, N.A. and Citibank, N.A., as Syndication Agents, and Bank of America, N.A., Barclays Bank plc and SunTrust Bank, as Documentation Agents.

1. This Notice is submitted for the purpose of: (Check one and complete applicable information in accordance with the Credit Agreement.)

Converting all or a portion of a Base Rate Loan into a LIBOR Rate Loan

	(a)		The aggregate outstanding principal balance of such Revolving Credit Loan is $ .

	(b)		The principal amount of such Revolving Credit Loan to be converted is $ .

	(c)		The requested effective date of the conversion of such Revolving Credit Loan is .

	(d)		The requested Interest Period applicable to the converted Revolving Credit Loan is .

Converting all or a portion of a LIBOR Rate Loan into a Base Rate Loan

	(a)		The aggregate outstanding principal balance of such Revolving Credit Loan is $

	(b)		The last day of the current Interest Period for such Revolving Credit Loan is .

	(c)		The principal amount of such Revolving Credit Loan to be converted is $ .

	(d)		The requested effective date of the conversion of such Revolving Credit Loan is .

Continuing all or a portion of a LIBOR Rate Loan as a LIBOR Rate Loan

	(a)		The aggregate outstanding principal balance of such Revolving Credit Loan is $ .

	(b)		The last day of the current Interest Period for such Revolving Credit Loan is .

	(c)		The principal amount of such Revolving Credit Loan to be continued is $ .

	(d)		The requested effective date of the continuation of such Revolving Credit Loan is .

	(e)		The requested Interest Period applicable to the continued Revolving Credit Loan is .

2. The principal Dollar Amount of all Revolving Credit Loans and L/C Obligations outstanding as of the date hereof does not exceed the maximum Dollar Amount permitted to be outstanding pursuant to the terms of the Credit Agreement.

3. The Borrower hereby represents and warrants that no Default or Event of Default (as defined in the Credit Agreement) has occurred and is continuing.

4. Capitalized terms used herein and not defined herein shall have the meanings assigned thereto in the Credit Agreement.

IN WITNESS WHEREOF, the undersigned has executed this Notice of Conversion/ Continuation as of the day of , .


	JONES APPAREL GROUP USA, INC.
	By:
		Name:
		Title:

EXHIBIT F — FORM OF
OFFICER’S COMPLIANCE CERTIFICATE

OFFICER’S COMPLIANCE CERTIFICATE

The undersigned, on behalf of JONES APPAREL GROUP USA, INC. (the “Borrower”), hereby certifies to the Administrative Agent and the Lenders, each as defined in the Credit Agreement referred to below, as follows:

1. This Certificate is delivered to you pursuant to Section 8.2 of the Amended and Restated Five-Year Credit Agreement dated as of May 16, 2005 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”), by and among the Borrower, the Additional Obligors referred to therein, the lenders party thereto (the “Lenders”), J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as Co-Lead Arrangers and Joint Bookrunners, Wachovia Bank, National Association, as Administrative Agent (the “Administrative Agent”), and JPMorgan Chase Bank, N.A. and Citibank, N.A., as Syndication Agents, and Bank of America, N.A., Barclays Bank plc and SunTrust Bank, as Documentation Agents. Capitalized terms used herein and not defined herein shall have the meanings assigned thereto in the Credit Agreement.

2. I have reviewed the consolidated financial statements of Jones Apparel Group, Inc. and its Subsidiaries dated as of and for the period[s] then ended and such statements present fairly in all material respects the consolidated financial condition of Jones Apparel Group, Inc. and its Subsidiaries as of their respective dates and the results of the consolidated operations of Jones Apparel Group, Inc. and its Subsidiaries for the respective period[s] then ended, subject to normal year end adjustments for interim statements.

3. I have reviewed the terms of the Credit Agreement, and the related Loan Documents and have made, or caused to be made under my supervision, a review in reasonable detail of the transactions and the condition of Jones Apparel Group, Inc. and its Subsidiaries during the accounting period covered by the financial statements referred to in Paragraph 2 above. Such review has not disclosed the existence during or at the end of such accounting period of any condition or event that constitutes a Default or an Event of Default, nor do I have any knowledge of the existence of any such condition or event as at the date of this Certificate [except, if such condition or event existed or exists, describe the nature and period of existence thereof and what action the Borrower has taken, is taking and proposes to take with respect thereto].

4. The Applicable Margin and information as to the debt ratings necessary for determining such figure are set forth on the attached Schedule 1.

5. Jones Apparel Group, Inc. and its Subsidiaries are in compliance with the financial covenants contained in Article X of the Credit Agreement as shown on such Schedule 1.

WITNESS the following signature as of the day of , .


	JONES APPAREL GROUP USA, INC.
	By:
		Name:
		Title:

EXHIBIT G — FORM OF
ASSIGNMENT AND ACCEPTANCE

ASSIGNMENT AND ACCEPTANCE

Dated as of:

Reference is made to the Amended and Restated Five-Year Credit Agreement dated as of May 16, 2005, as amended, restated, supplemented or otherwise modified (the “Credit Agreement”) by and among JONES APPAREL GROUP USA, INC., a Pennsylvania corporation (the “Borrower”), the Additional Obligors referred to therein, the lenders party thereto (the “Lenders”), J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as Co-Lead Arrangers and Joint Bookrunners, Wachovia Bank, National Association, as Administrative Agent, and JPMorgan Chase Bank, N.A. and Citibank, N.A., as Syndication Agents, and Bank of America, N.A., Barclays Bank plc and SunTrust Bank, as Documentation Agents. Capitalized terms used herein which are not defined herein shall have the meanings assigned thereto in the Credit Agreement.

(the “Assignor”) and (the “Assignee”) agree as follows:

1. The Assignor hereby sells and assigns to the Assignee, and the Assignee hereby purchases and assumes from the Assignor, as of the Effective Date (as defined below), a % interest in and to all of the Assignor’s interest, rights and obligations with respect to its Revolving Credit Commitment and Revolving Credit Loans (including such percentage of the outstanding L/C Obligations), which percentage represents not less than $5,000,000, unless such percentage equals 100% of such Lender’s Revolving Credit Commitment, and the Assignor thereby retains % of its interest therein.

This Assignment and Acceptance is entered pursuant to, and authorized by, Section 14.10 of the Credit Agreement.

2. The Assignor (i) represents that, as of the date hereof, its Revolving Credit Commitment Percentage (without giving effect to assignments thereof which have not yet become effective) under the Credit Agreement is % and the outstanding balances of its Revolving Credit Loans (including its Revolving Credit Commitment Percentage of the outstanding L/C Obligations) is $ ; (ii) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan Document or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or any other instrument or document furnished pursuant thereto, other than that the Assignor is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free and clear of any adverse claim; (iii) makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrower or its Subsidiaries or the performance or observance by the Borrower or its Subsidiaries of any of their obligations under the Credit Agreement or any other instrument or document furnished or executed pursuant thereto; and (iv) to the extent it has received Revolving Credit Note(s) from the Borrower, attaches the applicable Revolving Credit Note(s) delivered to it under the Credit Agreement and requests that the Borrower exchange such Revolving Credit Note(s) for new Revolving Credit Notes payable to each of the Assignor and the Assignee as follows:


		Revolving Credit Note
		Payable to the Order of:		Principal Amount of Note:

3. The Assignee (i) represents and warrants that it is legally authorized to enter into this Assignment and Acceptance; (ii) confirms that it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 8.1 thereof and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Acceptance; (iii) agrees that it will, independently and without reliance upon the Assignor or any other Lender or the Administrative Agent and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (iv) confirms that it is an Eligible Assignee; (v) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms thereof, together with such powers as are reasonably incidental thereto; (vi) agrees that it will perform in accordance with their terms all the obligations which by the terms of the Credit Agreement and the other Loan Documents are required to be performed by it as a Lender; (vii) agrees to hold all confidential information in accordance with the provisions of Section 14.10(g) of the Credit Agreement; and (viii) includes herewith for the Administrative Agent the forms required by Section 5.11(e) of the Credit Agreement (if not previously delivered).

4. The effective date for this Assignment and Acceptance shall be as set forth in Section 1 of Schedule 1 hereto (the “Effective Date”), subject to the consents referred to in the following sentence. Following the execution of this Assignment and Acceptance, it will be delivered to the Administrative Agent for, to the extent required by the Credit Agreement, consent by the Borrower and the Administrative Agent and acceptance and recording in the Register.

5. Upon such consents, acceptance and recording, from and after the Effective Date, (i) the Assignee shall be a party to the Credit Agreement and the other Loan Documents to which Lenders are parties and, to the extent provided in this Assignment and Acceptance, have the rights and obligations of a Lender under each such agreement, and (ii) the Assignor shall, to the extent provided in this Assignment and Acceptance, relinquish its rights and be released from its obligations under the Credit Agreement and the other Loan Documents.

6. Upon such consents, acceptance and recording, from and after the Effective Date, the Administrative Agent shall make all payments in respect of the interest assigned hereby (including payments of principal, interest, fees and other amounts) to the Assignee. The Assignor and Assignee shall make all appropriate adjustments in payments for periods prior to the Effective Date or with respect to the making of this assignment directly between themselves.

7. THIS ASSIGNMENT AND ACCEPTANCE SHALL BE DEEMED TO BE A CONTRACT UNDER SEAL AND SHALL BE GOVERNED BY AND CONSTRUED IN


	COMMITMENT
LENDER	PERCENTAGE			COMMITMENT
The Royal Bank of Scotland plc		4.7	%	$	35,000,000
101 Park Avenue New York, NY 10178 Attn: Juanita Baird T: 212-401-1420 F: 212-401-1336
Standard Chartered		4.7	%	$	35,000,000
One Madison Avenue New York, NY 10010 Attn:Vicky T: 212-667-0203 F: 212-667-0287
Bank of Taiwan, New York Agency		3.3	%	$	25,000,000
100 Wall Street, 11^th Floor New York, NY 10005 Attn: Rachel Chang T: 212-968-8128 Ext. 30 F: 212-968-8370
UFJ Bank Limited, New York Branch		3.3	%	$	25,000,000
55 East 52^nd Street New York, NY 10055 Attn: Martin Chin T: 212-339-6392 F: 212-754-2368
Bank of China, New York Branch		2.0	%	$	15,000,000
410 Madison Avenue New York, NY 10017 Attn: Elaine Ho T: 212-935-3101 ext 281 F: 646-840-1796
Fifth Third Bank		2.0	%	$	15,000,000
38 Fountain Square, MD 109054 Cincinnati, OH 45263 Attn: Melody Merrill T: 513-579-5389 F: 513-534-5947
Mizuho Corporate Bank, Ltd.		2.0	%	$	15,000,000
1800 Plaza Ten Jersey City, NJ 07311 Attn: Nicole Ferraro T: 201-626-9341 F: 201-626-9913
Sumitomo Mitsui Banking Corporation		2.0	%	$	15,000,000
277 Park Avenue New York, NY 10172 Attn: Tracy Watson T: 212-224-4393 F: 212-224-5197


	COMMITMENT
LENDER	PERCENTAGE			COMMITMENT
The Bank of Nova Scotia		2.0	%	$	15,000,000
One Liberty Plaza, Floor 24 New York, NY 10006 Attn: Victor Chevallier T: 212-225-5064 F: 212-225-5145
U.S. Bank National Association		2.0	%	$	15,000,000
One U.S. Bank Plaza St. Louis, MO 63166 Attn: Jennifer Thurston
Union Bank of California, N.A		2.0	%	$	15,000,000
601 Potrero Grande Drive Monterey Park, CA 91754 Attn: Alberta Rosby T: 323-720-2622 F: 323-278-6173
Banca Di Roma — New York Branch		1.3	%	$	10,000,000
34 E. 51^st Street New York, NY 10022 Attn: Jonathan Bloom T: 212-407-1761 F: 212-407-1778
Bank Leumi USA		1.3	%	$	10,000,000
562 Fifth Avenue, 10^th Floor New York, NY 10036 Attn: Virginia DeLeon T: 212-626-1308 F: 212-626-1309
Bear Stearns Corporate Lending Inc.		1.3	%	$	10,000,000
383 Madison Avenue, 8^th Floor New York, NY 10179 Attn: Gloria Dombrowski T: 212-272-6043 F: 212-272-4844
Chang Hwa Commercial Bank, Ltd,		1.3	%	$	10,000,000
New York Branch 685 Third Avenue, 29^th Floor New York, NY 10017 Attn: Sarah Lim T: 212-651-9770 ext.31 F: 212-651-9785
First Commercial Bank, New York Agency		1.3	%	$	10,000,000
750 Third Avenue, 34^th Floor New York, NY 10017 Attn: Yating Hwang T: 212-599-6868 F: 212-599-6133

Schedule 1.1(b)


		Wachovia Bank, N.A. Outstanding Summary Report For Applicant: JONES APPAREL GROUP USA INC.		Page: 1 Date: 05/11/2005

Applicant Name: JONES APPAREL GROUP USA INC — STBY

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

SM200248

USA

SBLC

HARTFORD FIRE INSURANCE COMPANY

10/03/2002

07/01/2005

3,000,000.00

USD

SM204355

USA

SBLC

HARTFORD FIRE INSURANCE COMPANY

07/31/2003

07/01/2005

3,000,000.00

USD

SM210022

USA

SBLC

HARTFORD FIRE INSURANCE COMPANY

09/15/2004

07/01/2005

2,500,000.00

USD

SM411647

USA

SBLC

HARTFORD FIRE INSURANCE COMPANY

02/02/2000

07/01/2005

1,700,000.00

USD

SM414948

USA

SBLC

HARTFORD FIRE INSURANCE COMPANY

11/20/2000

06/01/2006

2,200,000.00

USD

SM417226

USA

SBLC

TETERBORO ASSOCIATES

06/15/2001

05/31/2006

950,000.00

USD

SM417227

USA

SBLC

H. ROSS/525 L.L.C. & E.ROSS/525LLC

06/15/2001

05/31/2006

123,200.00

USD

SM417889

USA

SBLC

HARTFORD FIRE INSURANCE COMPANY

08/17/2001

07/01/2005

1,700,000.00

USD

SM421703

USA

SBLC

AMERICAN CASUALTY COMPANY OF

07/01/2002

06/27/2005

13,000,000.00

USD

Appl Name Total:

28,173,200.00

Applicant Name: JONES APPAREL GROUP USA INC.

L/C Bank

Opening

Expiry

L/CEquiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC008816U

0104GR1718

USA

IMLC

GLORIA APPAREL, INC.

01/18/2005

05/22/2005

847,714.10

USD

IC009426U

0435NW00015

USA

IMLC

BRADLEE INTERNATIONAL LTD.

03/09/2005

04/25/2005

33,936.00

USD

IC009614U

0544NW00035

USA

IMLC

MIROGLIO TEXTILES USA, INC.

03/21/2005

05/02/2005

1,004.41

USD

IC009626U

0549G02784

USA

IMLC

THE EVER, INC.

03/21/2005

05/10/2005

40,459.65

USD

IC009628U

0554D09121

USA

IMLC

TEXTILE IMPORT LLC

03/21/2005

05/10/2005

38,325.00

USD

IC009754U

0583G02826

USA

IMLC

THE EVER, INC.

03/31/2005

05/25/2005

4,654.65

USD

IC009767U

0584GR45

USA

IMLC

GLORIA APPAREL, INC.

03/31/2005

06/03/2005

120,558.11

USD

IC009975U

0664NW00047

USA

IMLC

BRADLEE INTERNATIONAL LTD.

04/15/2005

05/07/2005

42,021.00

USD

IC009984U

0668G02707

USA

IMLC

BRADLEE INTERNATIONAL LTD.

04/15/2005

05/20/2005

30,607.50

USD

IC009985U

0669G02860

USA

IMLC

THE EVER, INC.

04/15/2005

05/30/2005

42,170.63

USD

IC009986U

0670G02842

USA

IMLC

THE EVER, INC.

04/15/2005

05/15/2005

6,032.25

USD

IC010084U

0706G02858

USA

IMLC

BRADLEE INTERNATIONAL LTD.

04/21/2005

06/06/2005

56,700.00

USD

IC010250U

0777NA02253

USA

IMLC

MARUBENI AMERICA CORP.

05/04/2005

06/14/2005

49,738.19

USD

IC010343U

0787D09245

USA

IMLC

ALTINYILDIZ CORPORATION

05/09/2005

06/25/2005

473,550.00

USD

IC010344U

0791MA01043

USA

IMLC

MARUBENI AMERICA CORP.

05/09/2005

05/30/2005

19,097.83

USD

Appl Name Total:

1,806,569.32


		Wachovia Bank, N.A.		Page: 2
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: JONES APPAREL GROUP USA INC.

Applicant Name: JONES APPAREL GROUP USA, INC.

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC568551H

2230JG41616

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

12/06/2004

05/06/2005

8,042.64

USD

IC569779H

2372JG41727

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

12/31/2004

05/31/2005

4,515.00

USD

IC569962H

0001JG41783

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

01/05/2005

05/05/2005

9,150.75

USD

IC570817H

0116JG5110

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

01/20/2005

05/17/2005

66,610.85

USD

IC570839H

0135JG5089

HNK

IMLC

SHANGHAI SILK GROUP CO. LTD.

01/20/2005

05/03/2005

57,390.14

USD

IC570970H

0163JG5184

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

01/24/2005

07/02/2005

60,750.11

USD

IC570971H

0164SAM11905

HNK

IMLC

HONG KONG ORIENTAL YEYANG INTL

01/25/2005

08/16/2005

4,830,000.00

USD

IC572047H

0189JG5189

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

01/28/2005

05/31/2005

8,732.59

USD

IC572475H

0234JG5190

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

02/03/2005

04/30/2005

12,540.94

USD

IC572739H

0269MA00971

HNK

IMLC

LANIFICIO CAVERNI AND GRAMIGNI SPA

02/14/2005

04/30/2005

1,017.05

USD

IC573167H

0320JG5227

HNK

IMLC

CHINAMINE TRADING LTD.

02/18/2005

05/11/2005

955,459.47

USD

IC573279H

0343JG5222

HNK

IMLC

P.T. CITRA ABADI SEJATI

02/21/2005

05/10/2005

125,452.84

USD

IC573289H

0354JG5122

HNK

IMLC

TONGLU PUDE GARMENTS CO.

02/21/2005

04/30/2005

602,897.62

USD

IC573399H

0370G02698

HNK

IMLC

WUXI XIEXIN GROUP CO., LTD

02/25/2005

05/20/2005

1,727.72

USD

IC573404H

0371U02578

HNK

IMLC

TAECHANG ENTERPRISE CO., LTD.

02/25/2005

05/02/2005

66,103.28

USD

IC573452H

0375JG5298

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

02/25/2005

07/02/2005

14,784.00

USD

IC573453H

0376JG5299

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

02/25/2005

06/06/2005

15,723.71

USD

IC573454H

0377JG5308

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

02/25/2005

07/15/2005

78,814.00

USD

IC573455H

0378JG5309

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

02/25/2005

06/06/2005

14,017.50

USD

IC573476H

0388JG5153

HNK

IMLC

SLITHER LTD.

02/25/2005

05/03/2005

32,179.39

USD

IC573483H

0394JO021805SS

HNK

IMLC

HYUNJTN APPAREL CO., LTD.

02/25/2005

05/16/2005

113,039.63

USD

IC573824H

0404JEV034R1

HNK

IMLC

HOJEON LIMITED

03/07/2005

05/18/2005

75,766.62

USD

IC573828H

0405SH-0128

HNK

IMLC

JIN YOUNG INDUSTRIAL CO. LTD.

03/07/2005

05/18/2005

119,791.49

USD

IC573831H

0406JEV033R1

HNK

IMLC

HOJEON LIMITED

03/07/2005

05/25/2005

20,352.66

USD

IC573857H

0416JG5251

HNK

IMLC

YOOPOONG CORPORATION

03/07/2005

05/19/2005

110,354.55

USD

IC573918H

0427D09107

HNK

IMLC

TESSILGODI S.P.A.

03/09/2005

04/30/2005

1,056.30

USD

IC573921H

0429D09062

HNK

IMLC

PARAMOUNT TEXTEIS INDUSTRIA E

03/09/2005

05/31/2005

106,400.48

USD

IC574001H

0448JG5366

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

03/09/2005

05/02/2005

306,770.89

USD

IC574007H

0453KR021605

HNK

IMLC

HAN SAE CO., LTD.

03/09/2005

05/01/2005

86,892.75

USD

IC574143H

0459JG5286

HNK

IMLC

CHINA TING GARMENT MFG. (GROUP) LTD

03/11/2005

05/06/2005

638,376.22

USD


		Wachovia Bank, N.A.		Page: 3
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: JONES APPAREL GROUP USA, INC.

Applicant Name: JONES APPAREL GROUP USA, INC.

L/C Bank

Opening

Expiry

L/C Equiy

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC574196H

0460JG5428

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

03/14/2005

08/15/2005

28,961.89

USD

IC574197H

0461JG5429

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

03/14/2005

08/05/2005

15,273.72

USD

IC574206H

0468JG5398

HNK

IMLC

PT. UNGARAN SARI GARMENTS

03/14/2005

05/05/2005

3,537.81

USD

IC574207H

0469JG5391

HNK

IMLC

FORMOSTAR GARMENT CO., LTD.

03/14/2005

05/21/2005

82,590.59

USD

IC574292H

0486JG5349

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

03/15/2005

05/04/2005

363,897.51

USD

IC574308H

0491JEV037AC

HNK

IMLC

HAN SAE CO., LTD.

03/15/2005

05/13/2005

384,339.26

USD

IC574312H

0495AE00345

HNK

IMLC

MITSUI BUSSAN TEXTILE CO., LTD.

03/15/2005

06/11/2005

26,151.43

USD

IC574322H

0503MA00974

HNK

IMLC

LANIFICIO DI MAZZONE SAS

03/15/2005

05/12/2005

1,100.15

USD

IC574326H

0506U02578

HNK

IMLC

TAECHANG ENTERPRISE CO., LTD.

03/15/2005

05/02/2005

26,446.03

USD

IC574494H

0509JG5131

HNK

IMLC

PLATINUM 2000 LIMITED

03/18/2005

05/02/2005

100,062.29

USD

IC574497H

0510JG5311

HNK

IMLC

CHINA TING GARMENT MFG. (GROUP) LTD

03/18/2005

05/04/2005

548,222.56

USD

IC574513H

0516JG5420

HNK

IMLC

P.T. CITRA ABADI SEJATI

03/18/2005

05/10/2005

28,119.29

USD

IC574536H

0524JG5342

HNK

IMLC

CHINAMINE TRADING LTD.

03/18/2005

05/25/2005

145,649.62

USD

IC574538H

0526JG5416

HNK

IMLC

FORNTON KNITTING CO., LTD.

03/18/2005

04/30/2005

138,317.42

USD

IC574540H

0527JG5408

HNK

IMLC

PT. UNGARAN SARI GARMENTS

03/18/2005

05/17/2005

125,352.83

USD

IC574543H

0529KR031005

HNK

IMLC

HAN SAE CO., LTD.

03/18/2005

05/15/2005

178,979.26

USD

IC574544H

0528HM0307

HNK

IMLC

JIN YOUNG INDUSTRIAL CO. LTD.

03/18/2005

06/01/2005

58,182.38

USD

IC576568H

0531JG5443

HNK

IMLC

THAI KNITTING FACTORY CO., LTD.

03/21/2005

07/29/2005

10,507.09

USD

IC576569H

0532JG5370

HNK

IMLC

JOY PLUS TRADING (HK) LTD

03/21/2005

05/03/2005

11,731.35

USD

IC576570H

0533JG5283

HNK

IMLC

DASHING INDUSTRIAL COMPANY LIMITED

03/21/2005

05/04/2005

222,668.93

USD

IC576573H

0534JG5306

HNK

IMLC

TAI KEI KNITTERS LIMITED

03/21/2005

05/04/2005

161,595.94

USD

IC576574H

0536JG5350

HNK

IMLC

SAVERIO INTERNATIONAL LIMITED

03/21/2005

05/04/2005

376,237.71

USD

IC576576H

0537JG5436

HNK

IMLC

PLATINUM 2000 LIMITED

03/21/2005

05/04/2005

115,053.46

USD

IC576577H

0538SK0309A

HNK

IMLC

HYUNJIN APPAREL CO., LTD.

03/21/2005

05/09/2005

47,456.09

USD

IC576578H

0539KR-031505

HNK

IMLC

JIN YOUNG INDUSTRIAL CO. LTD.

03/21/2005

06/01/2005

141,461.96

USD

IC576579H

0540D09118

HNK

IMLC

TESSILGROSSO SPA

03/21/2005

05/05/2005

3,859.38

USD

IC576580H

0541D09141

HNK

IMLC

TAECHANG ENTERPRISE CO., LTD.

03/21/2005

05/15/2005

45,312.75

USD

IC576584H

0545G02683

HNK

IMLC

HANA TEXTILES CO., LTD.

03/21/2005

05/05/2005

10,605.00

USD

IC576721H

0556JEV039R1

HNK

IMLC

HYUNJIN APPAREL CO., LTD.

03/23/2005

05/16/2005

249,018.81

USD

IC576724H

0558JG5371

HNK

IMLC

ATRACO INDUSTRIAL ENTERPRISES

03/23/2005

05/07/2005

40,437.00

USD


		Wachovia Bank, N.A.		Page: 4
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: JONES APPAREL GROUP USA INC.

Applicant Name: JONES APPAREL GROUP USA, INC.

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC576725H

0560JG5394

HNK

IMLC

PT UNI-ENLARGE INDUSTRY INDONESIA

03/23/2005

04/29/2005

16,887.40

USD

IC576728H

0563JG5442

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

03/23/2005

05/10/2005

182,472.16

USD

IC576752H

0552NA02209

HNK

IMLC

SEJEE COMPANY LIMITED

03/24/2005

05/05/2005

11,318.27

USD

IC576775H

0566JG5430

HNK

IMLC

CHINA TING GARMENT MFG. (GROUP) LTD

03/24/2005

05/05/2005

952,124.53

USD

IC576777H

0567JG5357

HNK

IMLC

JOY PLUS TRADING (HK) LTD

03/24/2005

05/03/2005

83,708.36

USD

IC576778H

0568JG5451

HNK

IMLC

HEMPEL CHINA LIMITED

03/24/2005

05/10/2005

83,592.78

USD

IC576779H

0569JG5453

HNK

IMLC

KWIN HING KNITTING FTY. LTD.

03/24/2005

05/04/2005

86,940.00

USD

IC576820H

0570E04153

HNK

IMLC

LANIFICIO CECCHI LIDO AND FIGLI SPA

03/28/2005

05/05/2005

5,814.11

USD

IC576822H

0571E04209

HNK

IMLC

MENSA

03/28/2005

05/22/2005

25,283.48

USD

IC576825H

0573D09169

HNK

IMLC

LANIFICIO GIOVANNI MAGNI-LINEAEMME

03/28/2005

05/15/2005

56,941.50

USD

IC576826H

0574D09105

HNK

IMLC

TAI FUNG TEXTILES CO. LTD.

03/28/2005

05/15/2005

14,307.19

USD

IC576829H

0575D09152

HNK

IMLC

LANIFICIO BISENTINO S.P.A.

03/28/2005

05/11/2005

181,140.75

USD

IC576975H

0576JG5392

HNK

IMLC

PT UNI-ENLARGE INDUSTRY INDONESIA

03/30/2005

05/31/2005

225,186.59

USD

IC576978H

0577JG55434

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

03/30/2005

05/17/2005

896,561.37

USD

IC576979H

0578JG55433

HNK

IMLC

CHINAMINE TRADING LTD.

03/30/2005

05/18/2005

220,284.46

USD

IC576981H

0579JG5442

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

03/30/2005

05/10/2005

490,009.19

USD

IC577003H

0581NA02243

HNK

IMLC

KIMTEKS TEKSTIL INSAAT SAN. VE TIC.

03/31/2005

05/05/2005

3,067.07

USD

IC577004H

0582D09216

HNK

IMLC

MITSUI BUSSAN TEXTILE CO., LTD.

03/31/2005

05/10/2005

154.28

USD

IC577019H

0585J4B0316LC

HNK

IMLC

SLC CO., LTD.

03/31/2005

05/06/2005

19,775.33

USD

IC577020H

0586JTK323A

HNK

IMLC

EUHA INTERNATIONAL LTD

03/31/2005

05/06/2005

41,710.54

USD

IC577028H

0593JG5456

HNK

IMLC

BUSINESS FAITH INTERNATIONAL LTD.

03/31/2005

06/30/2005

163,198.06

USD

IC577029H

0594JG5461

HNK

IMLC

CARNIVAL INDUSTRIAL CORP.

03/31/2005

05/02/2005

18,168.43

USD

IC577030H

0595JG5454

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

03/31/2005

05/03/2005

11,495.40

USD

IC577032H

0596JG5455

HNK

IMLC

HIGH FASHION GARMENTS CO., LTD.

03/31/2005

05/10/2005

18,266.67

USD

IC577033H

0597JG5463

HNK

IMLC

SAVERIO INTERNATIONAL LIMITED

03/31/2005

05/07/2005

255,541.97

USD

IC577034H

0598JG5466

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

03/31/2005

05/07/2005

168,415.27

USD

IC577035H

0599JG5410

HNK

IMLC

PT. UNGARAN SARI GARMENTS

03/31/2005

05/24/2005

100,722.72

USD

IC577036H

0600JG5458

HNK

IMLC

P.T. CITRA ABADI SEJATI

03/31/2005

06/14/2005

87,520.00

USD

IC577037H

0601JG5435

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

03/31/2005

05/10/2005

16,507.01

USD

IC577038H

0602JG5450

HNK

IMLC

CHINAMINE TRADING LTD.

03/31/2005

05/10/2005

45,735.04

USD


		Wachovia Bank, N.A.		Page: 5
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: JONES APPAREL GROUP USA INC.

Applicant Name: JONES APPAREL GROUP USA, INC.

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC577039H

0603JG5123

HNK

IMLC

WILFORD KNITWEAR FTY. LTD.

03/31/2005

05/11/2005

191,980.05

USD

IC577040H

0604JG5437

HNK

IMLC

SAVERIO INTERNATIONAL LIMITED

03/31/2005

05/11/2005

118,399.20

USD

IC577190H

0606JG5477

HNK

IMLC

JOY PLUS TRADING (HK) LTD

04/04/2005

05/06/2005

163,948.95

USD

IC577524H

0607JG5474

HNK

IMLC

UNITEX FASHION (CHINA) LIMITED

04/11/2005

05/11/2005

282,134.24

USD

IC577527H

0608JG5479

HNK

IMLC

TONGLU PUDE GARMENTS CO.

04/11/2005

04/30/2005

203,803.15

USD

IC577528H

0609JG5491

HNK

IMLC

KWIN HING KNITTING FTY. LTD.

04/11/2005

04/30/2005

17,481.33

USD

IC577529H

0610JG5490

HNK

IMLC

DOKO (HONG KONG)LTD

04/11/2005

05/15/2005

13,344.24

USD

IC577530H

0611JG5496

HNK

IMLC

DOKO (HONG KONG)LTD

04/11/2005

05/15/2005

63,921.90

USD

IC577531H

0612JG5092

HNK

IMLC

PAK TAK KNITTING GARMENT FACTORY L

04/11/2005

05/15/2005

68,448.16

USD

IC577536H

0616JG5465

HNK

IMLC

PLATINUM 2000 LIMITED

04/11/2005

04/30/2005

40,537.51

USD

IC577537H

0617JG5472

HNK

IMLC

BUSINESS FAITH INTERNATIONAL LTD.

04/11/2005

05/21/2005

225,392.80

USD

IC577538H

0618JG5487

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

04/11/2005

05/02/2005

70,895.64

USD

IC577539H

0619JG5495

HNK

IMLC

PT MUTIARA MITRA BUSANA APPAREL

04/11/2005

05/24/2005

35,154.37

USD

IC577540H

0620JG5498

HNK

IMLC

PT MUTIARA MITRA BUSANA APPAREL

04/11/2005

05/17/2005

57,453.25

USD

IC577543H

0621JG5481

HNK

IMLC

JOY PLUS TRADING (HK) LTD

04/11/2005

05/10/2005

166,186.26

USD

IC577545H

0622JG5464

HNK

IMLC

CHINAMINE TRADING LTD.

04/11/2005

05/04/2005

42,118.75

USD

IC577546H

0623JG5483

HNK

IMLC

PLATINUM 2000 LIMITED

04/11/2005

05/07/2005

49,632.24

USD

IC577547H

0624JG5480

HNK

IMLC

JOY PLUS TRADING (HK) LTD

04/11/2005

05/31/2005

86,169.87

USD

IC577548H

0625JG5302

HNK

IMLC

FORNTON KNITTING CO., LTD.

04/11/2005

05/18/2005

41,602.69

USD

IC577549H

0626JG5303

HNK

IMLC

FORNTON KNITTING CO., LTD.

04/11/2005

05/18/2005

130,834.35

USD

IC577550H

0627JG5418

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

04/11/2005

05/18/2005

86,009.64

USD

IC577551H

0628JG5497

HNK

IMLC

FORNTON KNITTING CO., LTD.

04/11/2005

05/18/2005

236,513.66

USD

IC577552H

0629JG5470

HNK

IMLC

YEE TUNG GARMENT CO., LTD.

04/11/2005

06/09/2005

207,378.54

USD

IC577553H

0630JG5409

HNK

IMLC

PT. UNGARAN SARI GARMENTS

04/11/2005

06/08/2005

49,752.51

USD

IC577555H

0631SH0330

HNK

IMLC

HAN SAE CO., LTD.

04/11/2005

06/16/2005

221,878.78

USD

IC577557H

0632KR040105A

HNK

IMLC

HAN SAE CO., LTD.

04/11/2005

05/27/2005

56,359.64

USD

IC577562H

0633JO0401SS

HNK

IMLC

HYUNJIN APPAREL CO., LTD.

04/11/2005

06/20/2005

963,647.27

USD

IC577563H

0634N25C5137

HNK

IMLC

TROPIC KNITS LTD

04/11/2005

07/25/2005

2,677,928.40

USD

IC577564H

0635N25C5217

HNK

IMLC

TROPIC KNITS LTD

04/11/2005

07/25/2005

1,571,169.60

USD

IC577565H

0636N25C5417

HNK

IMLC

TROPIC KNITS LTD

04/11/2005

07/25/2005

1,314,069.12

USD


		Wachovia Bank, N.A.		Page: 6
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: JONES APPAREL GROUP USA INC.

Applicant Name: JONES APPAREL GROUP USA, INC.

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC577569H

0637NA02138

HNK

IMLC

BTD TEKSTIL SAN. VE TIC. AS.

04/11/2005

04/30/2005

55,731.38

USD

IC577571H

0638NA02255

HNK

IMLC

EXSA EXPORT SANAYI MAMULLERI SATIS

04/11/2005

05/18/2005

142,039.01

USD

IC577635H

0639JG5474

HNK

IMLC

UNITEX FASHION (CHINA) LIMITED

04/13/2005

05/11/2005

284,300.10

USD

IC577636H

0640JG5508

HNK

IMLC

KWIN HING KNITTING FTY. LTD.

04/13/2005

04/30/2005

71,997.82

USD

IC577637H

0641JG5520

HNK

IMLC

KWIN HING KNITTING FTY. LTD.

04/13/2005

04/30/2005

33,046.40

USD

IC577638H

0642JG5504

HNK

IMLC

CHINA TING GARMENT MFG. (GROUP) LTD

04/13/2005

05/07/2005

300,552.98

USD

IC577639H

0643JG5448

HNK

IMLC

PT UNI-ENLARGE INDUSTRY INDONESIA

04/13/2005

05/18/2005

25,031.74

USD

IC577640H

0644JG5449

HNK

IMLC

CHINAMINE TRADING LTD.

04/13/2005

05/03/2005

136,621.31

USD

IC577642H

0645JG5485

HNK

IMLC

MAINFIELD DEVELOPMENT CO. LTD.

04/13/2005

05/04/2005

12,501.08

USD

IC577645H

0646JG5521

HNK

IMLC

TAI KEI KNITTERS LMITED

04/13/2005

05/04/2005

94,760.55

USD

IC577647H

0647JG5509

HNK

IMLC

TONGLU PUDE GARMENTS CO.

04/13/2005

05/05/2005

54,746.97

USD

IC577649H

0648JG5502

HNK

IMLC

DOKO (HONG KONG)LTD

04/13/2005

06/14/2005

173,319.42

USD

IC577653H

0649JG5501

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

04/13/2005

06/02/2005

236,550.81

USD

IC577656H

06502MK0407A

HNK

IMLC

SAMKWANG APPAREL CORP

04/13/2005

05/30/2005

91,926.72

USD

IC577748H

0651D09134

HNK

IMLC

TESSITURE MECCANICHE SETERIE

04/15/2005

05/10/2005

51,472.05

USD

IC577751H

0652D09278

HNK

IMLC

SUNGWON TNC CO., LTD.

04/15/2005

05/15/2005

46,147.50

USD

IC577753H

0653D09175

HNK

IMLC

MITSUI BUSSAN TEXTILE CO., LTD.

04/15/2005

05/20/2005

9,708.30

USD

IC577756H

0654D09199

HNK

IMLC

KEN TRADING

04/15/2005

05/25/2005

785,551.20

USD

IC577759H

0655D09242

HNK

IMLC

MITSUI BUSSAN TEXTILE CO., LTD.

04/15/2005

05/20/2005

15,981.00

USD

IC577762H

0656D09183

HNK

IMLC

MITSUI BUSSAN TEXTILE CO., LTD.

04/15/2005

05/20/2005

9,055.02

USD

IC577788H

0657D09156

HNK

IMLC

LAN LUIGI BOGGIO CASERO SRL

04/15/2005

05/30/2005

190,769.25

USD

IC577792H

0658D09198

HNK

IMLC

KEN TRADING

04/15/2005

05/20/2005

576,315.60

USD

IC577794H

0659D09185

HNK

IMLC

MITSUI BUSSAN TEXTILE CO., LTD.

04/15/2005

05/15/2005

1,641.68

USD

IC577796H

0660D09168

HNK

IMLC

LANIFICIO BISENTINO S.P.A.

04/15/2005

05/11/2005

26,780.78

USD

IC577798H

0661D09097

HNK

IMLC

KEN TRADING

04/15/2005

05/20/2005

29,563.63

USD

IC577803H

0662D09310

HNK

IMLC

KEN TRADING

04/15/2005

05/10/2005

145.04

USD

IC577804H

0663D09147

HNK

IMLC

TESSILGROSSO SPA

04/15/2005

05/15/2005

119,301.00

USD

IC577807H

0665NA02143

HNK

IMLC

PICCHI S.P.A.

04/15/2005

05/07/2005

780.18

USD

IC577809H

0667ND00482

HNK

IMLC

SAMIL KNIT CO., LTD.

04/15/2005

05/13/2005

13,020.00

USD

IC577823H

0671G02857

HNK

IMLC

L AND D INTERNATIONAL CO., LTD.

04/15/2005

05/20/2005

11,080.13

USD


		Wachovia Bank, N.A.		Page: 7
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: JONES APPAREL GROUP USA INC.

Applicant Name: JONES APPAREL GROUP USA, INC.

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC577824H

0672G02718

HNK

IMLC

TREMO LTD

04/15/2005

05/22/2005

29,006.25

USD

IC577826H

0673G02874

HNK

IMLC

INTERMALL TEXTILE (H.K.) CO., LTD.

04/15/2005

06/14/2005

24,911.25

USD

IC577827H

0675G02845

HNK

IMLC

HANA TEXTILES CO., LTD.

04/15/2005

05/15/2005

15,907.50

USD

IC577828H

0675G02712

HNK

IMLC

SNT CO., LTD.

04/15/2005

05/31/2005

42,508.20

USD

IC577831H

0676G02715

HNK

IMLC

SEO KWANG TRADING CO., LTD.

04/15/2005

05/30/2005

16,668.75

USD

IC577992H

0677JG5441

HNK

IMLC

CHINAMINE TRADING LTD.

04/20/2005

05/12/2005

512,952.42

USD

IC577993H

0678JG5540

HNK

IMLC

CHINAMINE TRADING LTD.

04/20/2005

05/11/2005

83,647.77

USD

IC577996H

0679JG5546

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

04/20/2005

06/04/2005

463,051.25

USD

IC577999H

0680JG5530

HNK

IMLC

JOY PLUS TRADING (HK) LTD

04/20/2005

05/10/2005

253,020.93

USD

IC578002H

0681JG5317

HNK

IMLC

LAI’S KNITWEAR MANUFACTURING LTD.

04/20/2005

05/15/2005

262,308.81

USD

IC578012H

0682JG5482

HNK

IMLC

JOY PLUS TRADING (HK) LTD

04/20/2005

05/15/2005

38,939.00

USD

IC578015H

0684JG5527

HNK

IMLC

ATRACO INDUSTRIAL ENTERPRISES

04/20/2005

05/21/2005

26,247.06

USD

IC578017H

0685JG5493

HNK

IMLC

SAVERIO INTERNATIONAL LIMITED

04/20/2005

05/22/2005

58,084.20

USD

IC578019H

0686JG5522

HNK

IMLC

FORMOSTAR GARMENT CO., LTD.

04/20/2005

05/30/2005

35,704.14

USD

IC578020H

0687JG5541

HNK

IMLC

CHINAMINE TRADING LTD.

04/20/2005

05/25/2005

55,442.88

USD

IC578023H

0688JEV065R1

HNK

IMLC

HYUNJIN APPAREL CO., LTD.

04/20/2005

07/18/2005

1,277,908.33

USD

IC578026H

0689JTK0411A

HNK

IMLC

HAN SAE CO., LTD.

04/20/2005

05/16/2005

208,653.35

USD

IC578029H

0690AGOC264

HNK

IMLC

ORIENT CRAFT LIMITED

04/20/2005

05/20/2005

101,941.56

USD

IC578031H

0691JONES

HNK

IMLC

DISENO Y COLOR S.A.

04/20/2005

06/14/2005

332,876.88

USD

IC578069H

0693NA02327

HNK

IMLC

BTD TEKSTIL LTD

04/20/2005

05/10/2005

18,228.00

USD

IC578082H

0694NA02117

HNK

IMLC

LES TISSUS MAREY

04/20/2005

05/10/2005

13,125.00

USD

IC578084H

0695NA02335

HNK

IMLC

BTD TEKSTIL SAN. VE TIC. AS.

04/20/2005

05/30/2005

29,786.40

USD

IC578086H

0696NA02254

HNK

IMLC

BTD TEKSTIL SAN. VE TIC. AS.

04/20/2005

05/10/2005

10,025.40

USD

IC578087H

0697NA02240

HNK

IMLC

BTD TEKSTIL SAN. VE TIC. AS.

04/20/2005

05/10/2005

18,277.88

USD

IC578088H

0698NA02251

HNK

IMLC

TESSILGODI S.P.A.

04/20/2005

06/04/2005

21,619.50

USD

IC578092H

0699NA02245

HNK

IMLC

SEJEE COMPANY LIMITED

04/20/2005

05/25/2005

39,768.75

USD

IC578097H

0700D09200

HNK

IMLC

KEN TRADING

04/20/2005

06/09/2005

221,165.70

USD

IC578098H

0701D09224

HNK

IMLC

MITSUI BUSSAN TEXTILE CO., LTD.

04/21/2005

05/30/2005

18,900.00

USD

IC578099H

0702D09215

HNK

IMLC

KEN TRADING

04/20/2005

05/30/2005

1,413.12

USD

IC578100H

0703D09241

HNK

IMLC

KEN TRADING

04/20/2005

06/04/2005

44,864.40

USD


		Wachovia Bank, N.A.		Page: 8
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: JONES APPAREL GROUP USA, INC.

Applicant Name: JONES APPAREL GROUP USA, INC.

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC578101H

0704D09290

HNK

IMLC

TEXTILE LOOK S.R.L

04/20/2005

06/04/2005

14,916.83

USD

IC578102H

0705D09302

HNK

IMLC

TEXTILE LOOK S.R.L

04/20/2005

05/25/2005

25,462.50

USD

IC578156H

0707G02883

HNK

IMLC

HANSIN TOPAZ CO., LTD.

04/21/2005

05/25/2005

1.10

USD

IC578158H

0708G02819

HNK

IMLC

HANSIN TOPAZ CO., LTD.

04/21/2005

05/15/2005

143.50

USD

IC578163H

0709JG5513

HNK

IMLC

HEMPEL CHINA LIMITED

04/25/2005

05/21/2005

245,390.75

USD

IC578165H

0710JG5492

HNK

IMLC

EXCELLENT JADE LIMITED

04/25/2005

06/14/2005

222,272.44

USD

IC578166H

0711JG5535

HNK

IMLC

CALIBRE MERCHANDISING CO., LTD.

04/25/2005

06/02/2005

27,188.14

USD

IC578167H

0712JG5542

HNK

IMLC

JOY PLUS TRADING (HK) LTD

04/25/2005

05/17/2005

47,267.12

USD

IC578171H

0713JG5523

HNK

IMLC

ATRACO INDUSTRIAL ENTERPRISES

04/25/2005

05/17/2005

114,039.41

USD

IC578172H

0714JG5554

HNK

IMLC

P.T. MASTERINDO JAYA ABADI

04/25/2005

06/04/2005

32,967.17

USD

IC578174H

0715JG5531

HNK

IMLC

ATRACO INDUSTRIAL ENTERPRISES

04/25/2005

05/21/2005

1,032,414.77

USD

IC578175H

0716JG5488

HNK

IMLC

NAMESON INDUSTRIAL LIMITED

04/25/2005

06/29/2005

100,182.18

USD

IC578176H

0717JG5503

HNK

IMLC

CHINAMINE TRADING LTD.

04/25/2005

05/25/2005

94,734.41

USD

IC578177H

0718JG5529

HNK

IMLC

SHANGDONG CHERRY GROUP MAYTEX

04/25/2005

05/26/2005

42,871.36

USD

IC578178H

0719JG5549

HNK

IMLC

GRAND-TECH INTERNATIONAL CO. LTD.

04/25/2005

05/26/2005

112,067.49

USD

IC578180H

0720JG5514

HNK

IMLC

BUSINESS FAITH INTERNATIONAL LTD.

04/25/2005

05/30/2005

102,164.00

USD

IC578181H

0721JG5515

HNK

IMLC

YEE TUNG GARMENT CO., LTD.

04/25/2005

07/23/2005

118,877.80

USD

IC578182H

0722JG5516

HNK

IMLC

BUSINESS FAITH INTERNATIONAL LTD.

04/25/2005

05/30/2005

84,589.03

USD

IC578183H

0723JG5543

HNK

IMLC

TONGLU PUDE GARMENTS CO.

04/25/2005

05/30/2005

21,664.83

USD

IC578184H

0724JG5552

HNK

IMLC

JOY PLUS TRADING (HK) LTD

04/25/2005

05/31/2005

50,309.28

USD

IC578185H

0725JG5533

HNK

IMLC

JOY PLUS TRADING (HK) LTD

04/25/2005

06/07/2005

203,988.39

USD

IC578188H

0726JG5494

HNK

IMLC

MAXIMARK INTERNATIONAL LIMITED

04/25/2005

06/01/2005

87,495.21

USD

IC578189H

0727JG5517

HNK

IMLC

EXCELLENT JADE LIMITED

04/25/2005

06/01/2005

25,725.00

USD

IC578191H

0728JG5536

HNK

IMLC

LEIGHTON TEXTILES CO., LTD

04/25/2005

06/01/2005

129,399.22

USD

IC578203H

0729JG5544

HNK

IMLC

ATRACO INDUSTRIAL ENTERPRISES

04/25/2005

06/05/2005

400,382.14

USD

IC578206H

0730JEV063JE1

HNK

IMLC

HAN SAE CO., LTD.

04/25/2005

06/05/2005

144,806.00

USD

IC578211H

0731PAUL0419LCB

HNK

IMLC

SAMKWANG APPAREL CORP

04/25/2005

07/06/2005

492,218.25

USD

IC578215H

0732PAUL0420

HNK

IMLC

POONGIN TRADING CO., LTD.

04/25/2005

06/05/2005

53,256.00

USD

IC578217H

0733JTK0415A

HNK

IMLC

EUHA INTERNATIONAL LTD

04/25/2005

06/04/2005

24,056.05

USD

IC578273H

0734PAUL0419

HNK

IMLC

EUHA INTERNATIONAL LTD

04/25/2005

07/06/2005

27,963.92

USD


		Wachovia Bank, N.A.		Page: 9
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: JONES APPAREL GROUP USA INC.

Applicant Name: JONES APPAREL GROUP USA, INC.

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC578285H

0735JEV062JE1

HNK

IMLC

HAN SAE CO., LTD.

04/25/2005

07/03/2005

402,431.66

USD

IC578293H

0736SK0406A

HNK

IMLC

HYUNJIN APPAREL CO., LTD.

04/25/2005

06/06/2005

407,681.79

USD

IC578296H

0737SK0414A

HNK

IMLC

HYUNJIN APPAREL CO., LTD.

04/25/2005

07/11/2005

1,080,437.68

USD

IC578298H

0738KR033005A

HNK

IMLC

JIN YOUNG INDUSTRIAL CO. LTD.

04/25/2005

06/08/2005

148,800.82

USD

IC578299H

0739AGOC265

HNK

IMLC

ORIENT CRAFT LIMITED

04/25/2005

05/20/2005

44,769.08

USD

IC578307H

0740D09135

HNK

IMLC

PARAMOUNT TEXTEIS INDUSTRIA E

04/25/2005

06/25/2005

480,658.50

USD

IC578308H

0741NA02211

HNK

IMLC

TAECHANG ENTERPRISE CO., LTD.

04/25/2005

05/12/2005

32.40

USD

IC578406H

0742NW00048

HNK

IMLC

HANSIN TOPAZ CO., LTD.

04/26/2005

05/15/2005

133.10

USD

IC578525H

0743JG5555

HNK

IMLC

AUTOMOBILE FASHIONS CO., LTD

04/29/2005

06/01/2005

344,910.02

USD

IC578527H

0744JG5593

HNK

IMLC

ATRACO INDUSTRIAL ENTERPRISES

04/29/2005

07/09/2005

190,242.07

USD

IC578530H

0745JG5574

HNK

IMLC

UNITEX FASHION (CHINA) LIMITED

04/29/2005

06/23/2005

34,749.83

USD

IC578532H

0746JG5557

HNK

IMLC

KWIN HING KNITTING FTY. LTD.

04/29/2005

06/01/2005

86,560.04

USD

IC578534H

0747JG5565

HNK

IMLC

FULLCHARM KNITTERS LIMITED

04/29/2005

05/25/2005

33,471.90

USD

IC578538H

0748JG5578

HNK

IMLC

FORNTON KNITTING CO., LTD.

04/29/2005

05/25/2005

20,802.36

USD

IC578598H

0749JG5589

HNK

IMLC

SHANGDONG CHERRY GROUP MAYTEX

04/29/2005

05/26/2005

8,765.48

USD

IC578599H

0750JG5575

HNK

IMLC

GRAND-TECH INTERNATIONAL CO. LTD.

05/03/2005

06/11/2005

322,684.10

USD

IC578602H

0751JO0421

HNK

IMLC

HYUNJIN APPAREL CO., LTD.

04/29/2005

06/26/2005

213,723.99

USD

IC578605H

0752JG41080

HNK

IMLC

YOOPOONG CORPORATION

04/29/2005

05/22/2005

76,569.30

USD

IC578606H

0753JG5591

HNK

IMLC

ATRACO INDUSTRIAL ENTERPRISES

04/29/2005

05/24/2005

13,874.28

USD

IC578607H

0754JG5558

HNK

IMLC

FORNTON KNITTING CO., LTD.

04/29/2005

06/01/2005

216,062.40

USD

IC578608H

0755JG5583

HNK

IMLC

PT. UNGARAN SARI GARMENTS

04/29/2005

06/14/2005

45,612.93

USD

IC578609H

0756JG5598

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

04/29/2005

06/03/2005

27,123.13

USD

IC578610H

0757JG5573

HNK

IMLC

KWIN HING KNITTING FTY. LTD.

04/29/2005

06/15/2005

112,867.91

USD

IC578611H

0758JG5588

HNK

IMLC

PLATINUM 2000 LIMITED

04/29/2005

07/07/2005

146,350.38

USD

IC578614H

0759JG5553

HNK

IMLC

JOY PLUS TRADING (HK) LTD

04/29/2005

06/14/2005

197,211.20

USD

IC578617H

0760JG5580

HNK

IMLC

JOY PLUS TRADING (HK) LTD

04/29/2005

07/19/2005

36,716.37

USD

IC578619H

0761JG5537

HNK

IMLC

CHINAMINE TRADING LTD.

04/29/2005

06/08/2005

14,896.99

USD

IC578627H

0762JG5538

HNK

IMLC

KWIN HING KNITTING FTY. LTD.

04/29/2005

07/06/2005

73,754.58

USD

IC578628H

0763JG5570

HNK

IMLC

DASHING INDUSTRIAL COMPANY LIMITED

04/29/2005

06/08/2005

29,283.60

USD

IC578631H

0764JG5571

HNK

IMLC

AUTOMOBILE FASHIONS CO., LTD

04/29/2005

06/08/2005

63,293.24

USD


		Wachovia Bank, N.A.		Page: 10
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: JONES APPAREL GROUP USA INC.

Applicant Name: JONES APPAREL GROUP USA, INC.

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC578633H

0765JG5584

HNK

IMLC

KWIN HING KNITTING FTY. LTD.

04/29/2005

06/08/2005

38,461.52

USD

IC578634H

0766JG5566

HNK

IMLC

ATRACO INDUSTRIAL ENTERPRISES

04/29/2005

06/11/2005

494,550.00

USD

IC578635H

0767NA02054

HNK

IMLC

CHINAMINE TRADING LTD.

04/29/2005

05/20/2005

4,323.38

USD

IC578687H

0768HD00332

HNK

IMLC

YOO SAN CO., LTD.

05/03/2005

05/18/2005

67,872.00

USD

IC578726H

0770G02854

HNK

IMLC

SNT CO., LTD.

05/03/2005

05/25/2005

9,632.70

USD

IC578727H

0771NA02260

HNK

IMLC

EXSA EXPORT SANAYI MAMULLERI SATIS

05/03/2005

06/14/2005

16,049.25

USD

IC578728H

0772MA01036

HNK

IMLC

MANIFATURRA TESSILE NEW LINE SPA

05/03/2005

06/20/2005

45,012.71

USD

IC578729H

0773MA01041

HNK

IMLC

BTD TEKSTIL SAN. VE TIC. AS.

05/03/2005

05/25/2005

26,294.63

USD

IC578730H

0774MA01068

HNK

IMLC

ABRAHAM MOON AND SONS LIMITED

05/03/2005

07/20/2005

232,592.59

USD

IC578731H

0775MA01013

HNK

IMLC

D.A.G. CO., LTD.

05/03/2005

05/30/2005

147,219.66

USD

IC578732H

0776NA02249

HNK

IMLC

MENSA

05/03/2005

06/04/2005

50,884.05

USD

IC578733H

0778D09305

HNK

IMLC

TESSILGODI S.P.A.

05/03/2005

06/10/2005

8,904.00

USD

IC578783H

0779JG5604

HNK

IMLC

PAK TAK KNITTING GARMENT FACTORY L

05/03/2005

05/25/2005

118,852.34

USD

IC578785H

0780JTK0425B

HNK

IMLC

HAN SAE CO., LTD.

05/03/2005

06/05/2005

24,620.55

USD

IC578786H

0781JTK0425D

HNK

IMLC

SAMKWANG APPAREL CORP

05/03/2005

06/05/2005

93,723.14

USD

IC578787H

0782JTK0425A

HNK

IMLC

HAN SAE CO., LTD.

05/03/2005

06/05/2005

323,903.87

USD

IC578788H

0783JEV070R1

HNK

IMLC

HOJEON LIMITED

05/03/2005

07/20/2005

169,973.87

USD

IC579004H

0784NA02355

HNK

IMLC

BTD TEKSTIL SAN. VE TIC. AS.

05/09/2005

06/09/2005

33,870.38

USD

IC579026H

0785D09327

HNK

IMLC

KEN TRADING

05/09/2005

06/30/2005

97,383.83

USD

IC579028H

0786D09291

HNK

IMLC

MITSUI BUSSAN TEXTILE CO., LTD.

05/09/2005

06/20/2005

22,932.00

USD

IC579032H

0788D09250

HNK

IMLC

TAI FUNG TEXTILES CO. LTD.

05/09/2005

06/20/2005

18,319.88

USD

IC579034H

0789D09251

HNK

IMLC

TESSITURE MECCANICHE SETERIE

05/09/2005

06/10/2005

78,694.35

USD

IC579035H

0790NA02244

HNK

IMLC

EXSA EXPORT SANAYI MAMULLERI SATIS

05/09/2005

05/30/2005

29,798.69

USD

IC579036H

0792NA02336

HNK

IMLC

BTD TEKSTIL SAN. VE TIC. AS.

05/09/2005

06/06/2005

18,757.20

USD

IC579095H

0793JG5619

HNK

IMLC

KEYABLE INTERNATIONAL LTD.

05/11/2005

06/01/2005

75,584.81

USD

IC579096H

0794JG5610

HNK

IMLC

SHANGHAI SALES CLOTHING (WEI YA)CO

05/11/2005

05/30/2005

50,657.50

USD

IC579123H

0795JG5559

HNK

MLC

CHIN HO KNITTING FACTORY LIMITED

05/11/2005

06/08/2005

131,389.17

USD

IC579124H

0796JG5561

HNK

IMLC

LAI KO KNITTING FTY. LTD.

05/11/2005

06/08/2005

26,929.67

USD

IC579126H

0797JG5564

HNK

IMLC

WILFORD KNITWEAR FTY. LTD.

05/11/2005

06/08/2005

83,600.76

USD

IC579127H

0798JG5643

HNK

IMLC

KWIN HING KNITTING FTY. LTD.

05/11/2005

05/30/2005

103,128.55

USD


		Wachovia Bank, N.A.		Page: 11
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: JONES APPAREL GROUP USA INC.

Applicant Name: JONES APPAREL GROUP USA INC.

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC579171H

0799JG5608

HNK

IMLC

FIL-PACIFIC APPAREL CORPORATION

05/11/2005

06/27/2005

275,822.93

USD

IC579200H

0800JG5620

HNK

IMLC

SHANGDONG CHERRY GROUP MAYTEX

05/11/2005

05/30/2005

58,306.08

USD

IC579205H

0801JG5624

HNK

IMLC

FORMOSTAR GARMENT CO., LTD.

05/11/2005

05/30/2005

105,991.28

USD

IC579212H

0802JG5628

HNK

IMLC

HIGH FASHION GARMENTS CO. LTD.

05/11/2005

06/27/2005

50,440.90

USD

IC579227H

0803JG5614

HNK

IMLC

CHINAMINE TRADING LTD.

05/11/2005

06/08/2005

123,961.36

USD

IC579228H

0804JG5607

HNK

IMLC

JOY PLUS TRADING (HK) LTD

05/11/2005

06/04/2005

57,099.06

USD

IC579229H

0805JG5642

HNK

IMLC

TONGLU PUDE GARMENTS CO.

05/11/2005

06/04/2005

235,412.19

USD

IC579231H

0806JG5609

HNK

IMLC

FORMOSTAR GARMENT CO., LTD.

05/11/2005

06/06/2005

55,759.03

USD

IC579232H

0807JG5590

HNK

IMLC

JOY PLUS TRADING (HK) LTD

05/11/2005

06/07/2005

51,402.70

USD

IC579233H

0808JG5605

HNK

IMLC

FORNTON KNITTING CO., LTD.

05/11/2005

06/08/2005

41,485.63

USD

IC579234H

0809JTK0428A

HNK

IMLC

SAMKWANG APPAREL CORP

05/11/2005

06/06/2005

27,442.86

USD

IC579235H

0810JTK0426A

HNK

IMLC

SAMKWANG APPAREL CORP

05/11/2005

06/10/2005

423,642.68

USD

IC579237H

0811A1/R5

HNK

IMLC

BISHARA TEXTILE AND MANUFACTURING

05/11/2005

05/30/2005

34,904.16

USD

IC579238H

0812A1/R2

HNK

IMLC

BISHARA TEXTILE AND MANUFACTURING

05/11/2005

05/30/2005

65,930.52

USD

Appl Name Total:

47,255,033.92

Applicant Name: NORTON MCNAUGHTON OF SQUIRE,

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

SM208080

USA

SBLC

GETTINGER ASSOCIATES, L.P.

05/06/2004

03/31/2006

19,899.66

USD

Appl Name Total:

19,899.66

Total:

77,254,702.90

BA/ACCPT Summary:

Total:

*** END OF OUTSTANDING SUMMARY REPORT

OSTSMY.RDF


		Wachovia Bank, N.A.		Page: 1
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: NINE WEST

Applicant Name: NINE WEST GROUP

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC009677U

NW0157PDNWR46

USA

IMLC

ZENITH HANDBAGS

03/24/2005

05/26/2005

72,039.00

USD

IC009884U

NW0170CW895

USA

IMLC

CMA MARKETING

04/07/2005

06/05/2005

28,502.42

USD

IC010139U

NW0205CW902

USA

IMLC

STREET CARS

04/26/2005

06/24/2005

106,048.50

USD

Appl Name Total:

206,589.92

Applicant Name: NINE WEST GROUP INC.

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC573733H

NW0117CW879

HNK

IMLC

GIESSE CALZATURE SRL

03/03/2005

04/30/2005

49,612.50

USD

IC573736H

NW0118LM007

HNK

IMLC

SUREFIELD LIMITED

03/03/2005

04/29/2005

20,906.40

USD

IC574213H

NW0133SNLK28

HNK

IMLC

OVERLAND TRADING S/A

03/14/2005

05/03/2005

27,027.00

USD

IC576561H

NW0144LM012

HNK

IMLC

SUREFIELD LIMITED

03/21/2005

06/04/2005

175,657.20

USD

IC576566H

NW0151DP76

HNK

IMLC

GOLDEN MATE INTERNATIONAL CORP.

03/18/2005

05/28/2005

26,998.20

USD

IC576787H

NW0152DP81

HNK

IMLC

CALZATURIFICIO JOPER SRL

03/24/2005

05/31/2005

14,489.19

USD

IC576788H

NW0153KG006

HNK

IMLC

SUREFIELD LIMITED

03/24/2005

06/04/2005

61,490.40

USD

IC576790H

NW0155DP75

HNK

IMLC

CORAL REEF ASIA PACIFIC

03/24/2005

05/28/2005

36,528.00

USD

IC576791H

NW0156LM016

HNK

IMLC

SUREFIELD LIMITED

03/24/2005

05/23/2005

9,672.00

USD

IC576792H

NW0158SNLK29

HNK

IMLC

OVERLAND TRADING S/A

03/24/2005

05/20/2005

30,625.50

USD

IC576793H

NW0159PROF014

HNK

IMLC

MARONDA INTERNATIONAL LTD.

03/24/2005

06/03/2005

44,322.00

USD

IC576794H

NW0160DA177

HNK

IMLC

CALZATURIFICIO LENCIONI CARLO SRL

03/24/2005

06/04/2005

75,013.20

USD

IC576795H

NW0161LM017

HNK

IMLC

SUREFIELD LIMITED

03/24/2005

06/04/2005

165,985.20

USD

IC576971H

NW0162DP82

HNK

IMLC

CALZATURIFICIO JOPER SRL

03/30/2005

05/26/2005

11,692.80

USD

IC577414H

0169CW894

HNK

IMLC

GET EVER INTERNATIONAL LTD.

04/07/2005

06/04/2005

84,773.55

USD

IC577415H

NW0171CW896

HNK

IMLC

POPUTOP ENTERPRISE CORP.

04/07/2005

06/05/2005

19,260.00

USD

IC577418H

NW0173CW898

HNK

IMLC

GET EVER INTERNATIONAL LTD.

04/07/2005

06/06/2005

61,875.00

USD

IC577419H

NW0174CW899

HNK

IMLC

FU CHEN INTERNATIONAL LTD.

04/07/2005

05/27/2005

18,507.00

USD

IC577420H

NW0175CW900

HNK

IMLC

CALZATURIFICIO JOPER SRL

04/07/2005

06/05/2005

72,716.13

USD

IC577422H

NW0177LM027

HNK

IMLC

SOUTH SERVICE TRADING S/A

04/07/2005

06/10/2005

86,197.35

USD

IC577423H

NW0178KG007

HNK

IMLC

SUREFIELD LIMITED

04/07/2005

05/30/2005

28,548.00

USD

IC577617H

NW0179MTK5

HNK

IMLC

MARONDA INTERNATIONAL LTD.

04/12/2005

06/25/2005

51,224.40

USD

OSTSMY.RDF


		Wachovia Bank, N.A.		Page: 2
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: NINE WEST

Applicant Name: NINE WEST GROUP INC.

L/CBank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC577618H

NW0180MTK6

HNK

IMLC

MARONDA INTERNATIONAL LTD.

04/12/2005

06/30/2005

27,768.00

USD

IC577619H

NW0181PDNWR48

HNK

IMLC

YEN SHENG FACTORY LTD.

04/12/2005

06/07/2005

6,532.50

USD

IC577620H

NW0182PDNWR49

HNK

IMLC

YEN SHENG FACTORY LTD.

04/12/2005

06/07/2005

12,341.40

USD

IC577621H

NW0183MULT8484

HNK

IMLC

CALZATURIFICIO SIMON’S SHOE SRL

04/12/2005

06/02/2005

56,418.60

USD

IC577977H

NW0184PDNW050

HNK

IMLC

YEN SHENG FACTORY LTD.

04/19/2005

06/14/2005

54,721.50

USD

IC577978H

NW0185PDNWR51

HNK

IMLC

YEN SHENG FACTORY LTD.

04/19/2005

06/14/2005

16,440.00

USD

IC577980H

NW0186PDNW052

HNK

IMLC

YEN SHENG FACTORY LTD.

04/19/2005

06/21/2005

16,482.00

USD

IC577981H

NW0187PDNWR53

HNK

IMLC

YEN SHENG FACTORY LTD.

04/19/2005

06/28/2005

56,103.00

USD

IC577982H

NW0188CJD9

HNK

IMLC

CALZADOS CASTELLER, SL

04/19/2005

05/18/2005

15,366.56

USD

IC577983H

NW0189CJD10

HNK

IMLC

CALZADOS CASTELLER, SL

04/19/2005

05/11/2005

9,604.10

USD

IC577984H

NW0190CJD11

HNK

IMLC

CALZADOS CASTELLER, SL

04/19/2005

06/08/2005

48,020.51

USD

IC577985H

NW0191CJD12

HNK

IMLC

CALZADOS CASTELLER, SL

04/19/2005

06/08/2005

32,269.78

USD

IC578271H

NW0192DP87

HNK

IMLC

BEST MATCH GLOBAL LTD

04/26/2005

06/05/2005

20,606.40

USD

IC578272H

NW0193DP88

HNK

IMLC

GOLDEN GLORY INTERNATIONAL GROUP

04/25/2005

06/05/2005

31,428.00

USD

IC578274H

NW0195SNLK30

HNK

IMLC

SUREFIELD LIMITED

04/25/2005

06/24/2005

130,854.00

USD

IC578275H

NW0196LM033

HNK

IMLC

SUREFIELD LIMITED

04/25/2005

07/01/2005

13,170.60

USD

IC578277H

NW0197LM034

HNK

IMLC

SUREFIELD LIMITED

04/25/2005

06/10/2005

11,923.20

USD

IC578278H

NW0198LM035

HNK

IMLC

SUREFIELD LIMITED

04/25/2005

06/24/2005

24,217.20

USD

IC578391H

NW0199DP84

HNK

IMLC

DIVINA SRL

04/26/2005

07/14/2005

140,280.00

USD

IC578392H

NW0200LM028

HNK

IMLC

SOUTH SERVICE TRADING S/A

04/26/2005

07/11/2005

11,938.20

USD

IC578393H

NW0201SNLK31

HNK

IMLC

SUREFIELD LIMITED

04/26/2005

07/01/2005

141,384.00

USD

IC578394H

NW0202MTK7

HNK

IMLC

SUREFIELD LIMITED

04/26/2005

06/24/2005

69,468.00

USD

IC578395H

NW0203MTK8

HNK

IMLC

SUREFIELD LIMITED

04/26/2005

06/24/2005

71,962.80

USD

IC578396H

NW0204CW901

HNK

IMLC

OVERLAND TRADING S/A

04/26/2005

06/30/2005

40,312.50

USD

IC578397H

NW0206CW903

HNK

IMLC

TRITONE SHOE CORP. C/O TRITONE SHOE

04/26/2005

06/21/2005

16,875.00

USD

IC578398H

NW0207CW904

HNK

IMLC

GET EVER INTERNATIONAL LTD.

04/26/2005

06/15/2005

36,713.25

USD

IC578399H

NW0208CW905

HNK

IMLC

FU CHIN INTERNATINAL LTD.

04/26/2005

06/15/2005

11,206.50

USD

IC578400H

NW0209CW906

HNK

IMLC

SINOWEST TRADING, LTD.

04/26/2005

05/28/2005

58,270.50

USD

IC578645H

NW0210KG011

HNK

IMLC

SUREFIELD LIMITED

04/29/2005

06/16/2005

232,546.50

USD

IC578646H

NW0211KG012

HNK

IMLC

SUREFIELD LIMITED

04/29/2005

06/10/2005

58,184.00

USD

OSTSMY.RDF


		Wachovia Bank, N.A.		Page: 3
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: JONES APPAREL GROUP USA INC.

Applicant Name: NINE WEST GROUP INC.

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC578648H

NW0213KG013

HNK

IMLC

SUREFIELD LMITED

04/29/2005

06/24/2005

104,580.00

USD

IC578651H

NW0215DP92

HNK

IMLC

LENCI CALZATURE SPA

04/29/2005

07/08/2005

21,262.50

USD

IC579103H

NW0219MTK9

HNK

IMLC

OVERLAND TRADING S/A

05/10/2005

06/15/2005

15,311.40

USD

IC579104H

NW0220MTK10

HNK

IMLC

OVERLAND TRADING S/A

05/10/2005

06/15/2005

16,644.00

USD

IC579106H

NW0221MTK11

HNK

IMLC

OVERLAND TRADING S/A

05/10/2005

06/21/2005

22,822.80

USD

IC579107H

NW0222MTK12

HNK

IMLC

OVERLAND TRADING S/A

05/10/2005

06/27/2005

37,620.00

USD

IC579110H

NW0223PDNWR54

HNK

IMLC

YEN SHENG FACTORY LTD.

05/10/2005

06/28/2005

19,125.00

USD

IC579112H

NW0224PDNWR55

HNK

IMLC

YEN SHENG FACTORY LTD.

05/10/2005

07/05/2005

79,236.00

USD

IC579114H

NW0225PDBANDO56

HNK

IMLC

YEN SHENG FACTORY LTD.

05/10/2005

07/12/2005

3,180.00

USD

IC579115H

NW0226PDNWR57

HNK

IMLC

YEN SHENG FACTORY LTD.

05/10/2005

07/12/2005

20,025.00

USD

IC579116H

NW0227PDBANDO58

HNK

IMLC

YEN SHENG FACTORY LTD.

05/10/2005

07/14/2005

2,764.80

USD

IC579117H

NW0228PDNWO59

HNK

IMLC

YEN SHENG FACTORY LTD.

05/10/2005

07/19/2005

33,448.80

USD

IC579118H

NW0229PDNWR60

HNK

IMLC

YEN SHENG FACTORY LTD.

05/10/2005

07/19/2005

49,413.00

USD

IC579120H

NW0230DP90

HNK

IMLC

GET EVER INTERNATIONAL LTD.

05/10/2005

07/31/2005

30,637.50

USD

Appl Name Total:

3,102,600.42

Total:

3,309,190.34

BA/ACCPT Summary:

Total:

*** END OF OUTSTANDING SUMMARY REPORT

OSTSMY.RDF


		Wachovia Bank, N.A.		Page: 1
		Outstanding Summary Report
		For Applicant: BARNEY’S INC		Date: 05/11/2005

Applicant Name: BARNEY’S INC

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC569885H

SOZZISS05-1

HNK

IMLC

SOZZI CALZE S.P.A.

01/04/2005

05/21/2005

988.63

USD

IC569987H

ISAIASS05-2

HNK

IMLC

ISAIA AND ISAIA S.P.A.

01/05/2005

05/16/2005

4,344.03

USD

IC570065H

CAMCAMSS05-2

HNK

IMLC

CAMICERIA C.A.M. S.R.L.

01/11/2005

06/20/2005

237.50

USD

IC570349H

GRIFFITTSS05-1

HNK

IMLC

GRIFFITT SPA

01/12/2005

05/21/2005

509.53

USD

IC570690H

ISAIASS05-3

HNK

IMLC

ISAIA AND ISAIA S.P.A.

01/17/2005

06/06/2005

4,078.98

USD

IC570902H

MARNISS05-3

HNK

IMLC

MARNI INTERNATIONAL S.A.

01/21/2005

05/21/2005

530.88

USD

IC570927H

COSESS05-1

HNK

IMLC

COSE DI LANA SPA

01/21/2005

05/21/2005

902.40

USD

IC572160H

FABRYSDDPLSS05-1

HNK

IMLC

FABRY’S S.R.L.

01/26/2005

06/21/2005

60,066.90

USD

IC572457H

ALTEAAIRSS05-4

HNK

IMLC

ALTEA S.R.L.

02/03/2005

06/06/2005

19,215.13

USD

IC572580H

BORGODDPLSS05-4

HNK

IMLC

BORGO 21 S.A.

02/04/2005

05/06/2005

741.00

USD

IC572951H

GRAFFITISS05-1

HNK

IMLC

GRAFFITI S.R.L.

02/14/2005

05/16/2005

8,979.59

USD

IC573584H

JLANVINSS05-2

HNK

IMLC

JEANNE LANVIN SA

02/28/2005

06/05/2005

172,035.25

USD

IC573786H

MANOLDDPLSS05-2

HNK

IMLC

MANOLO BLAHNIK

03/04/2005

05/21/2005

103,284.00

USD

IC574253H

CHRLOUSS05-3

HNK

IMLC

CHRISTIAN LOUBOUTIN

03/14/2005

05/21/2005

50,254.31

USD

IC574257H

CHRLOSPAINSS05-4

HNK

IMLC

CHRISTIAN LOUBOUTIN

03/14/2005

05/21/2005

236,884.29

USD

IC577192H

ALTEAOCNSS05-6

HNK

IMLC

ALTEA S.R.L.

04/04/2005

07/06/2005

114,080.76

USD

IC577194H

KITONDDPLSS05-1

HNK

IMLC

KITON CORPORATION

04/04/2005

07/25/2005

31,866.44

USD

IC577197H

ALTEAAIRSS05-7

HNK

IMLC

ALTEA S.R.L.

04/04/2005

08/08/2005

90,972.02

USD

IC577587H

MANOLDDPLSS05-3

HNK

IMLC

MANOLO BLAHNIK

04/11/2005

07/06/2005

571,905.00

USD

IC577723H

ACTDPNYAPTSS05-1

HNK

IMLC

AC AND T S.R.L.

04/13/2005

05/20/2005

58,175.92

USD

IC578650H

CHRLOUSS05-4

HNK

IMLC

CHRISTIAN LOUBOUTIN

04/29/2005

07/06/2005

177,522.83

USD

IC578721H

MANOLDDPSS05-4

HNK

IMLC

MANOLO BLAHNIK

05/03/2005

08/05/2005

680,661.00

USD

IC578878H

MARNISS05-6

HNK

IMLC

MARNI INTERNATIONAL S.A.

05/04/2005

06/21/2005

93,036.48

USD

IC579045H

INTAISS05-2

HNK

IMLC

INTAI S.P.A.

05/09/2005

06/21/2005

38,162.00

USD

Appl Name Total:

2,519,434.87

OSTSMY.RDF


		Wachovia Bank, N.A.		Page: 2
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: BARNEY’S INC

Applicant Name: BARNEYS, INC

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

SM211395

USA

SBLC

GENERAL ELECTRIC CAPITAL CORP.

12/17/2004

12/15/2005

26,703,356.77

USD

Appl Name Total:

26,703,356.77

Total:

29,222,791.64

BA/ACCPT Summary:

Applicant Name: BARNEY’S INC

Bank

L/C Cust

Opening

Maturity

Reference

Site

Trans

Beneficiary

Ctry

Date

Balance

IC569885H

SOZZISS05-1

HNK

ACCP’

SOZZI CALZE S.P.A.

01/04/2005

05/20/2005

9,828.59

USD

IC569987H

ISAIASS05-2

HNK

ACCP’

ISAIA AND ISAIA S.P.A.

01/05/2005

05/18/2005

8,539.26

USD

IC570065H

CAMCAMSS05-2

HNK

ACCP’

CAMICERIA C.A.M. S.R.L.

01/11/2005

05/17/2005

18,505.28

USD

IC570690H

ISAIASS05-3

HNK

ACCP’

ISAIA AND ISAIA S.P.A.

01/17/2005

06/03/2005

2,799.30

USD

IC572457H

ALTEAAIRSS05-4

HNK

ACCP’

ALTEA S.R.L.

02/03/2005

05/17/2005

14,574.48

USD

IC572951H

GRAFFITISS05-l

HNK

ACCP’

GRAFFITI S.R.L.

02/14/2005

05/25/2005

62,829.78

USD

IC573786H

MANOLDDPLSS05-2

HNK

ACCP’

MANOLO BLAHNIK

03/04/2005

06/13/2005

166,079.25

USD

IC574253H

CHRLOUSS05-3

HNK

ACCP’

CHRISTIAN LOUBOUTIN

03/14/2005

05/31/2005

20,977.72

USD

Appl Name Total:

304,133.66

Total:

304,133.66

*** END OF OUTSTANDING SUMMARY REPORT

OSTSMY.RDF


		Wachovia Bank, N.A.		Page: 1
		Outstanding Summary Report		Date: 05/11/2005
		For Applicant: BARNEYS GE

Applicant Name: BARNEY’S INC

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

IC302234G

KITONDDPSS05-1

GET

IMLC

KITON CORPORATION

09/28/2004

04/30/2005

8,493.32

USD

IC302651G

ALTEAAIRSS05-1

GET

IMLC

ALTEA S.R.L.

11/19/2004

05/06/2005

8,325.64

USD

IC302713G

CASTINGSS05-1

GET

IMLC

CASTING S.A.S. DI SERVI U. AND C.

12/01/2004

05/21/2005

1,677.04

USD

IC302722G

DALESSANDSS05-1

GET

IMLC

DALESSANDRO SRL

12/02/2004

06/06/2005

16,156.07

USD

IC302724G

ESSEDIVASS05-1

GET

IMLC

ESSE S.R.L.

12/02/2004

06/06/2005

18,758.70

USD

IC302736G

DALESSANDSS05-2

GET

IMLC

DALESSANDRO SRL

12/03/2004

06/20/2005

126,948.39

USD

IC302784G

FBPSPASS05-1

GET

IMLC

FBP S.P.A.

12/10/2004

06/21/2005

20,681.95

USD

IC302786G

PIAZZADDPLSS05-1

GET

IMLC

PIAZZA SEMPIONE S.R.L.

12/10/2004

05/06/2005

508.25

USD

IC302814G

OPIFICIUMSS05-1

GET

IMLC

OPIFICIUM SRL

12/15/2004

06/21/2005

4,074.92

USD

IC302837G

BVBA32WMSSS05-2

GET

IMLC

B.V.B.A 32-ANN DEMEULEMEESTER

12/17/2004

05/06/2005

20,184.07

USD

Appl Name Total:

225,808.35

Applicant Name: BARNEYS INC

L/C Bank

Opening

Expiry

L/C Equiv

Reference

L/C Cust Reference

Site

Trans

Beneficiary

Ctry

Date

Liability Balance

SE442870

USA

SBLC

REED ELSEVIER, INC.

10/25/2002

06/30/2005

155,000.00

USD

SE443097

USA

SBLC

575 FIFTH AVENUE ASSOCIATES

02/04/2003

02/04/2006

245,000.00

USD

SE443282

USA

SBLC

TOMMY HILFIGER RETAIL, LLC

04/15/2003

04/15/2006

220,000.00

USD

SE443998

USA

SBLC

235, RENAISSANCE BROADWAY, NV

01/22/2004

01/16/2006

302,950.00

USD

SM201747

IPSM20174700

USA

SBLC

FLAGSHIP PARTNERS, LLC

01/23/2003

01/22/2006

571,428.00

USD

SM201748

IPSM20174800

USA

SBLC

JIM LYNDHURST, LLC

01/23/2003

11/30/2005

93,333.34

USD

SM201749

IPSM20174900

USA

SBLC

FLAGSHIP PARTNERS, LLC

01/23/2003

01/22/2006

1,713,429.00

USD

SM201755

IPSM20175500

USA

SBLC

FLAGSHIP PARTNERS, LLC

01/23/2003

01/22/2006

6,282,286.00

USD

SM422265

IPSM42226500

USA

SBLC

WASHINGTON INTERNATIONAL INSURANC

08/15/2002

02/07/2006

700,000.00

USD

Appl Name Total:

10,283,426.34

Total:

10,509,234.69

BA/ACCPT Summary:

OSTSMY.RDF


Trade into Exchange		Page 1 of 1

L/C Import



Outstanding Summary		Selected Accounts B000010626

Thu May 12 08:58:05 EDT 2005

Download

Results: (1 - 10) of 10
Go To Page: 1 | Totals

Date range selected : as of 05/12/2005


Global Customer
ID	DDA Account		Applicant Name	Location	Liability Type	Item (s)		Base Outstanding		Base CCY	Outstanding		Outstanding CCY
B000005723		000000020918917	JONES APPAREL GROUP CANADA, INC.	JPMorgan Chase Bank, N.A.- New York	Irrevoc L/C Import Sight		56		1,857,730.71	USD		1,857,730.71	USD
					(Liability Total)		56		1,857,730.71	USD		1,857,730.71	USD
					(Grand Total)		56		1,857,730.71	USD		1,857,730.71	USD
B000010626		000000444407878	JONES APPAREL GROUP CANADA INC.	JPMorgan Chase Bank, N.A.- New York	Global LC S/S Memo		2		300,377.00	USD		300,377.00	USD
					(Non-Liablility Total)		2		300,377.00	USD		300,377.00	USD
					Acceptance		8		1,142,442.18	USD		1,142,442.18	USD
					Irrevoc L/C Import Sight		124		18,031,398.82	USD		18,031,398.82	USD
					Irrevoc L/C Import Time		1		6,304.20	USD		6,304.20	USD
					(Liability Total)		133		19,180,145.20	USD		19,180,145.20	USD
					(Grand Total)		135		19,480,522.20	USD		19,480,522.20	USD


		Outstanding Report — Import LC		Report as of 11-May-05 Page 1 of 10


Customer	Total Items		Total Amount (USD Eqv)
NORTON MCNAUGHTON OF SQUIRE INC		406		86,721,613.12

		406		86,721,613.12

NORTON MCNAUGHTON OF SQUIRE INC

Total Items: 406
Total Outstanding Amount (USD Equivalent): 86,721,613.12

Outstanding

Lc Ref No

CAR Ref

Customer Ref

Curr

Balance

USD Eqv

Issue Date

Expiry Date

Tenor

Beneficiary

Ben Country

IM414718/04

TD605500045203-4

DOJI0681ME718

USD

19,566.84

15-Jul-04

15-Oct-04

MSN APPAREL

PAKISTAN

IM423101/04

TD605500050672-4

DOJI11542319JJ

USD

173,713.64

19-Oct-04

04-May-05

FORTUNELY INTERNATIONAL LTD.

HONG KONG

IM424477/04

TD605500050795-4

DOJI12792345LN

USD

241,014.75

29-Oct-04

30-May-05

SAYTAZ INTERNATIONAL

BANGLADESH

IM424963/04

TD605500050827-4

DOJI1311GV

USD

42,872.92

04-Nov-04

13-Jan-05

GULF BARAKA APPAREL W.L.L.

BAHRAIN

IM425581/04

TD605500050840-4

DOJI1324ME822

USD

12,421.35

11-Nov-04

22-Mar-05

ULUDAG TEKSTIL KONFEKSIYON GIYIM

TURKEY

IM426754/04

TD605500050905-4

DOJI1389GV

USD

56,583.01

23-Nov-04

22-Mar-05

DEFIANCE TRADING LLC.

UNITED ARAB EMIRATES

IM426759/04

TD605500050910-4

DOJI13942379JJ

USD

24,220.28

23-Nov-04

17-May-05

MING TAI KNITTING GARMENT FTY LTD.

HONG KONG

IM427340/04

TD605500050929-4

DOJI14122383LN

USD

220,903.34

30-Nov-04

04-Jun-05

FULCRUM EXIM PVT LTD.

INDIA

IM428220/04

TD605500050990-4

DOJI1472NC

USD

135,469.67

09-Dec-04

07-May- 05

PEARL BUYING SERVICES (PVT) LTD.

BANGLADESH

IM428875/04

TD605500055023-4

DOJI15072403JJ

USD

25,755.20

17-Dec-04

09-May-05

FORTUNELY INTERNATIONAL LTD.

HONG KONG

IM428884/04

TD605500055032-4

DOJI1516BA

USD

202,065.56

17-Dec-04

07-May-05

PEARL BUYING SERVICES (PVT) LTD.

BANGLADESH

IM428894/04

TD605500055038-4

DOJI1522JW

USD

707,640.96

17-Dec-04

07-May-05

PEARL BUYING SERVICES (PVT) LTD.

BANGLADESH

IM428911/04

TD605500055054-4

DOJI1538ME837

USD

86,432.00

17-Dec-04

20-Mar-05

TRAKYA TEKSTIL VE GIYIM

TURKEY

IM429392/04

TD605500055074-4

DOJI1560NC

USD

217,427.64

23-Dec-04

07-May-05

PEARL BUYING SERVICES (PVT) LTD.

BANGLADESH

IM429394/04

TD605500055076-4

DOJI15622433JJ

USD

6,041.40

23-Dec-04

15-May-05

EROS CAMASIRLARI A.S.

TURKEY

IM429395/04

TD605500055077-4

DOJI15632419JJ

USD

24,719.72

23-Dec-04

10-May-05

SAN WAI GARMENT FACTORY

MACAO

IM429399/04

TD605500055081-4

DOJI15672404JJ

USD

505,866.34

23-Dec 04

15-May-05

FORTUNELY INTERNATIONAL LTD.

HONG KONG

IM429400/04

TD605500055082-4

DOJI15682409JJ

USD

282,044.22

23-Doc 04

09-May-05

FORTUNELY INTERNATIONAL LTD.

HONG KONG

IM429401/04

TD605500055083-4

DOJI15692420JJ

USD

263,527.62

23-Dec-04

24-May-05

GOLDTREND ENTERPRISES LTD.

HONG KONC

IM429406/04

TD605500055088-4

DOJI1574ME845

USD

41,037.36

23-Dec-04

21-Mar-05

UNITEX FASHIONS (INDIA) PVT. LTD.

INDIA

IM429408/04

TD605500055090-4

DOJI1576ME847

USD

107,446.20

23-Dec-04

21-Mar-05

HAIYAN WELCOME TEXTILE INDUSTRY

CHINA

IM429931/04

TD605500055137-4

DOJI16242437JJ

USD

26,368.00

30-Dec-04

25-Mar-05

CHOI’S FAR EAST COMPANY

HONG KONG

IM429938/04

TD605500055142-4

DOJI1629NM

USD

39,447.60

30-Dec-04

12-Mar-05

ALLIANCE MERCHANDISING P. LTD.

INDIA

IM430282/05

TD605500055149-5

DOJI0004BA

USD

48,280.00

05-Jan-05

12-Apr-05

ALLIANCE MERCHANDISING P. LTD.

INDIA

IM430550/05

TD605500055171-5

DOJI0027BA

USD

9,864.29

07-Jan-05

23-May-05

TOGETHER TRADING CO., LTD.

KOREA REPUBLIC

IM432768/05

TD605500055239-5

DOJI00962441JJ

USD

2,281,665.56

04-Feb-05

09-Aug-05

WELSON TRADING LIMITED

TAIWAN

IM432770/05

TD605500055241-5

DOJ10098LL

USD

1,034.88

04-Feb-05

08-May-05

HONG KONG SHUERTAI CO LTD.

HONG KONG

IM432771/05

TD605500055242-5

DOJI0099NC

USD

405.85

04-Feb-05

10-May-05

HONG KONG SHUERTAI CO LTD.

HONG KONG


		Outstanding Report — Import LC		Report as of 11-May-05 Page 2 of 10

Outstanding

Lc Ref No

CAR Ref

Customer Ref

Curr

Balance

USD Eqv

Issue Date

Expiry Date

Tenor

Beneficiary

Ben Country

IM432772/05

TD605500055243-5

DOJI0100NC

USD

1,736.21

04-Feb-05

08-May-05

HONG KONG SHUERTAI CO. LTD.

HONG KONG

IM432774/05

TD605500055245-5

DOJI0102JW

USD

787.36

04-Feb-05

10-May-05

HONG KONG SHUERTAI CO. LTD.

HONG KONG

IM432775/05

TD605500055247-5

DOJI00103EP

USD

457.44

04-Feb-05

10-May-05

HONG KONG SHUERTAI CO. LTD.

HONG KONG

IM432837/05

TD605500055254-5

DOJI0109RR

USD

168,985.44

04-Feb-05

17-May-05

NINGBO FANHUA WOLLEN SWEATER C

CHINA

IM432840/05

TD605500055257-5

DOJI0112LL

USD

79,657.20

04-Feb-05

29-Apr-05

INJAE TRADING COMPANY

HONG KONG

IM432842/05

TD605500055259-5

DOJI0114LL

USD

1,820.84

04-Feb-05

01-May-05

KOREA APPAREL CO., LTD.

KOREA REPUBLIC

IM432844/05

TD605500055261-5

DOJI0116LL

USD

85,726.51

04-Feb-05

01-May-05

SEOHEUNG TRADING CO., LTD.

KOREA REPUBLIC

IM432836/05

TD605500055253-5

DOJI0108AL

USD

61,381.15

05-Feb-05

15-May-05

CITY HILL LIMITED

HONG KONG

IM433368/05

TD605500055273-5

DOJI01262510JJ

USD

2,160,469.07

11-Feb-05

29-Jul-05

GOLDTREND ENTERPRISES LTD.

IM433369/05

TD605500055274-5

DOJI01272516JJ

USD

1,963,515.40

11-Feb-05

11-Jul-05

FORTUNELY INTERNATIONAL LTD.

HONG KONG

IM433375/05

TD605500055280-5

DOJI0133ME859

USD

131,261.99

11-Feb-05

12-May-05

UNITEX FASHIONS (INDIA) PVT.LTD.

INDIA

IM433376/05

TD605500055281-5

DOJI0134ME860

USD

275,294.01

11-Feb-05

17-May-05

M S MAHAVIR INTERNATIONAL PVT. LTD.

INDIA

IM433377/05

TD605500055282-5

DOJI0135ME861

USD

86,438.17

11-Feb-05

21-May-05

INDUSTRIAL MANUFACTURING CORP.

INDIA

IM433379/05

TD605500055284-5

DOJI0137ME863

USD

35,665.31

11-Feb-05

04-Apr-05

FOREMOST INDIA

INDIA

IM433381/05

TD605500055286-5

DOJI0140ME866

USD

126,060.00

11-Feb-05

21-Jul-05

BJ APPAREL GLOBAL PTE LTD.

SINGAPORE

IM433385/05

TD605500055290-5

DOJI0144ME870

USD

123,692.25

11-Feb-05

05-May-05

TRAKYA TEKSTIL VE GIYIM

TURKEY

IM433386/05

TD605500055291-5

DOJI0145ME871

USD

87,517.50

11-Feb-05

11-May-05

ULUDAG TEKSTIL KONFEKSIYON GIYIM

TURKEY

IM433370/05

TD605500055275-5

DOJI01282517JJ

USD

694,049.21

14-Feb-05

04-Jun-05

FORTUNELY INTERNATIONAL LTD.

HONG KONG

IM433372/05

TD605500055277-5

DOJI01302519JJ

USD

262,313.23

14-Feb-05

03-Aug-05

MING TAI KNITTING GARMENT FTY LTD.

HONG KONG

IM433371/05

TD605500055276-5

DOJI01292518JJ

USD

52,970.00

15-Feb-05

02-May-05

FORTUNELY INTERNATIONAL LTD.

HONG KONG

IM433848/05

TD605500055251-5

DOJI0184NM

USD

701,912.70

18-Feb-05

30-May-05

PEARL BUYING SERVICES (PVT) LTD.

BANGLADESH

IM433835/05

TD605500055315-5

DOJI0171JS

USD

99,406.10

18-Feb-05

25-Apr-05

DO1 MARKETING SERVICE

KOREA REPUBLIC

IM433837/05

TD605500055317-5

DOJI0173JS

USD

1,754.10

18-Feb-05

12-May-05

TOGETHER TRADING CO., LTD.

KOREA REPUBLIC

IM433839/05

TD605500055319-5

DOJI0175AL

USD

12,321.05

18-Feb-05

21-Mar-05

DO1 MARKETING SERVICE

KOREA REPUBLIC

IM433842/05

TD605500055322-5

DOJI0178RR

USD

55,651.00

18-Feb-05

25-Apr-05

DO1 MARKETING SERVICE

KOREA REPUBLIC

IM433843/05

TD605500055323-5

DOJI0179LL

USD

30,028.80

18-Feb-05

25-Apr-05

DO1 MARKETING SERVICE

KOREA REPUBLIC

IM433849/05

TD605500055325-5

DOJ10185BA

USD

246,647.08

18-Feb-05

06-Jun-05

PEARL BUYING SERVICES (PVT) LTD.

BANGLADESH

IM433850/05

TD605500055326-5

DOJI10186BA

USD

1,140,507.33

18-Feb-05

06-Jun-05

PEARL BUYING SERVICES (PVT)LTD.

BANGLADESH

IM433851/05

TD605500055327-5

DOJI0187AL

USD

171,456.25

18-FEb-05

06-Jun-05

PEARL BUYING SERVICES (PVT) LTD.

BANGLADESH

IM433852/05

TD605500055328-5

DOJI0188NC

USD

720,605.41

18-Feb-05

30-Jun-05

PEARL BUYING SERVICES (PVT) LTD.

BANGLADESH

IM434372/05

TD605500055339-5

DOJI0199AL

USD

89,785.10

25-Feb 05

01-May-05

ALPHA START LTD.

HONG KONG

IM434387/05

TD605500055356-5

DOJI0216LL

USD

157,038.22

25-Feb-05

20-May-05

SEJEE COMPANY LTD.

HONG KONG

IM434388/05

TD605500055357-5

DOJI0217NC

USD

77,223.90

25-Feb-05

25-Apr-05

SEJEE COMPANY LTD.

HONG KONG

IM434389/05

TD605500055358-5

DOJI0218JW

USD

88,145.11

25-Feb-05

25-Apr-05

SEJEE COMPANY LTD.

HONG KONG

IM434390/05

TD605500055361-5

DOJI0220NC

USD

257,913.02

25-Feb-05

25-May-05

SEJEE COMPANY LTD.

HONG KONG

IM434363/05

TD605500055330-5

DOJI01902537JJ

USD

154,425.60

28-Feb-05

12-Jul-05

SAN WAI GARMENT FACTORY

MACAO

IM434965/05

TD605500055365-5

DOJI0224AL

USD

104,413.91

04-Mar-05

25-May-05

SEJEE COMPANY LTD.

HONG KONG

IM434966/05

TD605500055366-5

DOJI0225AL

USD

218,270.39

04-Mar-05

30-Jun-05

PEARL BUYING SERVICES (PVT) LTD.

BANGLADESH

IM434967/05

TD605500055367-5

DOJI0226BA

USD

328,645.64

04-Mar-05

06-Jun-05

PEARL BUYING SERVICES (PVT) LTD.

BANGLADESH

IM434968/05

TD605500055368-5

DOJI0227NC

USD

663,842.29

04-Mar-05

30 Jun-05

PEARL BUYING SERVICES (PVT) LTD.

BANGLADESH

IM434969/05

TD605500055369-5

DOJI0228EP

USD

3,648.93

04-Mar-05

25 May-05

SEJEE COMPANY LTD.

HONG KONG

IM434992/05

TD605500055398-5

DOJI0256NM

USD

47,098.20

04-Mar-05

28-Mar-05

DO1 MARKETING SERVICE

KOREA REPUBLIC

IM434993/05

TD605500055399-5

DOJI02572540JJ

USD

1,361,270.49

04-Mar-05

30-Jun-05

WAILAM MAO IEK HONG

MACAO

IM434995/05

TD605500055401-5

DOJI0259ME878

USD

32,541.80

04-Mar-05

20-Apr-05

ALLIED EXPORT INDUSTRIES

INDIA

IM434977/05

TD605500055380-5

DOJI0238LL

USD

311,418.89

05-Mar-05

15-May-05

PYL APPAREL LIMITED.

HONG KONG


		Outstanding Report — Import LC		Report as of 11-May-05 Page 3 of 10

Outstanding

Lc Ref No

CAR Ref

Customer Ref

Curr

Balance

USD Eqv

Issue Date

Expiry Date

Tenor

Beneficiary

Ben Country

IM434970/05

TD605500055370-5

DOJI0229EP

USD

4,101.10

08-Mar-05

30-May-05

SEJEE COMPANY LTD.

HONG KONG

IM435432/05

TD605500055411-5

DOJI0270ME886

USD

65,095.50

10-Mar-05

18-May-05

HAIYAN WELCOME TEXTILE INDUSTRY

CHINA

IM435433/05

TD605500055412-5

DOJI0271ME887

USD

75,475.69

10-Mar-05

05-Jun-05

BJ APPAREL GLOBAL PTE LTD.

SINGAPORE

IM435434/05

TD605500055413-5

DOJI0272ME888

USD

32,160.00

10-Mar-05

21-May-05

DEEPAK INDUSTRIES

INDIA

IM435421/05

TD605500055416-5

DOJI00276NM

USD

389,683.67

10-Mar-05

20-May-05

SEJEE COMPANY LTD.

HONG KONG

IM435437/05

TD605500055420-5

DOJI0280LL

USD

54,628.11

10-Mar-05

06-May-05

SUNLONG INTERNATIONAL LIMITED.

TAIWAN

IM435438/05

TD605500055421-5

DOJI0291ME891

USD

88,070.98

10-Mar-05

18-May-05

YAW CHING ENTERPRISES COMPANY, LTD.

TAIWAN

IM435426/05

TD605500055405-5

DOJI0263ME879

USD

2,719.92

11-Mar-05

21-May-05

M S EXEMPLARY COMPANY LTD.

BANGLADESH

IM435427/05

TD605500055406-5

DOJI0264ME880

USD

258,792.33

11-Mar-05

21-May-05

PRATTISON GARMENT LIMITED.

HONG KONG

IM435429/05

TD605500055408-5

DOJI0266ME882

USD

559,204.25

11-Mar-05

22-May-05

KUK RIM LTD.

KOREA REPUBLIC

IM435430/05

TD605500055409-5

DOJI0268ME884

USD

179,758.62

11-Mar-05

15-May-05

UNITEX FASHIONS (INDIA) PVT. LTD.

INDIA

IM435431/05

TD605500055410-5

DOJI0269ME885

USD

131,527.20

11-Mar-05

03-Jun-05

M S MAHAVIR INTERNATIONAL PVT

INDIA

IM435439/05

TD605500055422-5

DOJI0292ME892

USD

227,768.45

11-Mar-05

21-May-05

JRB HOWARD INTERNATIONAL CO, LTD.

TAIWAN

IM435480/05

TD605500055423-5

DOJI0281EP

USD

16,130.21

11-Mar-05

25-May-05

SEJEE COMPANY LTD.

HONG KONG

IM435481/05

TD605500055424-5

DOJI0282NC

USD

2,099.26

11-Mar-05

06-May-05

TOMEN(HKG) CO LTD.

HONG KONG

IM435476/05

TD605500055425-5

DOJI0283NC

USD

45,107.37

11-Mar-05

21-May-05

WORLD FORTUNE INTERNATIONAL CO

BRIT. VIRGIN ISLAND

IM435478/05

TD605500055427-5

DOJI00284NC

USD

4,297.71

11-Mar-05

11-May-05

WORLD FORTUNE INTERNATIONAL CO

BRIT VIRGIN ISLAND

IM435484/05

TD605500055430-5

DOJI0287CL

USD

81,008.40

11-Mar-05

30-May-05

WIDEWAY (CHINA) LIMITED

HONG KONG

IM435486/05

TD605500055432-5

DOJI0289CL

USD

40,107.74

11-Mar-05

01-May-05

NIEN HSING TEXTILE CO., LTD.

TAIWAN

IM435474/05

TD605500055433-5

DOJI00290BA

USD

302,025.78

11-Mar-05

06-Jul-05

WORLD FORTUNE INTERNATIONAL CO

BRIT VIRGIN ISLAND

IM435487/05

TD605500055434-5

DOJI0293RR

USD

158,618.04

11-Mar-05

15-May-05

PYL APPAREL LIMITED

HONG KONG

IM435488/05

TD605500055435-5

DOJI0294CL

USD

205,588.65

11-Mar-05

15-May-05

PYL APPAREL LIMITED

HONG KONG

IM435489/05

TD605500055436-5

DOJI0295BA

USD

62,712.35

11-Mar-05

15-May-05

PYL APPAREL LIMITED

HONG KONG

IM435477/05

TD605500055437-5

DOJI0296NC

USD

100,706.19

11-Mar-05

15-May-05

PYL APPAREL LIMITED

HONG KONG

IM435490/05

TD605500055438-5

DOJI0297CL

USD

348,467.70

11-Mar-05

15-May-05

PYL APPAREL LIMITED

HONG KONG

IM435491/05

TD605500055439-5

DOJI0298JWJ

USD

291,515.40

11-Mar-05

15-May-05

PYL APPAREL LIMITED

HONG KONG

IM435492/05

TD605500055440-5

DOJI0299NM

USD

90,755.68

11-Mar-05

15-May-05

PYL APPAREL LIMITFD

HONG KONG

IM435493/05

TD605500055441-5

DOJI0300BA

USD

34,073.96

11-Mar-05

15-May-05

PYL APPAREL LIMITED

HONG KONG

IM435494/05

TD605500055442-5

DOJI0301EP

USD

37,110.99

11-Mar-05

15-May-05

PYL APPAREL LIMITED

HONG KONG

IM435495/05

TD605500055443-5

DOJI0302NM

USD

159,873.12

11-Mar-05

15-May-05

PYL APPAREL LIMITED

HONG KONG

IM435496/05

TD605500055444-5

DOJI0303BA

USD

418,026.89

11-Mar-05

15-May-05

PYL APPAREL LIMITED

HONG KONG

IM435497/05

TD605500055445-5

DOJI0304LL

USD

518,355.31

11-Mar-05

15-May-05

PYL APPAREL LIMITED

HONG KONG

IM435475/05

TD605500055446-5

DOJI00305AL

USD

136,534.66

11-Mar-05

15-May 05

PYL APPAREL LIMITED

HONG KONG

IM435479/05

TD605500055447-5

DOJI00306BA

USD

352,310.53

11-Mar-05

30-May-05

SEJEE COMPANY LTD.

HONG KONG

IM435498/05

TD605500055448-5

DOJI0307BA

USD

210,421.31

l1-Mar-05

30-May-05

SEJEE COMPANY LTD.

HONG KONG

IM435536/05

TD605500055451-5

DOJI0310NC

USD

112,205.10

11 Mar 05

09-May-05

CHI-FUNG ENTERPRISE (HK) LTD.

HONG KONG

IM435538/05

TD605500055453-5

DOJI0312JW

USD

5,381.52

11-Mar-05

03-May-05

HANGZHOU HUANGSHUN INDUSTRIAL

CHINA

IM435545/05

TD605500055460-5

DOJI00319EP

USD

108,573.08

11-Mar-05

08-May-05

JACK TAN

HONG KONG

IM435546/05

TD605500055461-5

DOJI0320EP

USD

100,148.90

11-Mar-05

08-May-05

JACK TAN

HONG KONG

IM435558/05

TD605500055473-5

DOJI0332NC

USD

50,877.60

11-Mar-05

11-May-05

SAE HWA VINA CO. LTD.

VIETNAM

IM435560/05

TD605500055475-5

DOJI0334JW

USD

566.72

11-Mar-05

01-May-05

KOREA APPAREL CO., LTD.

KOREA REPUBLIC

IM435561/05

TD605500055476-5

DOJI0335JW

USD

53,245.63

11-Mar-05

02-May-05

SAE HWA VINA CO. LTD.

VIETNAM

IM435566/05

TD605500055481-5

DOJI0340NM

USD

21,887.43

11-Mar-05

20 May 05

SEJEE COMPANY LTD.

HONG KONG

IM435568/05

TD605500055483-5

DOJI0342NC

USD

2,499.30

11-Mar-05

06-May-05

WORLD FORTUNE INTERNATIONAL CO

BRIT VIRGIN ISLAND

IM435424/05

TD605500055403-5

DOJI02612550JJ

USD

476,368.24

12-Mar-05

30-May-05

FORTUNELY INTERNATIONAL LTD.

HONG KONG


		Outstanding Report — Import LC		Report as of 11-May-05 Page 4 of 10

Lc Ref No

CAR Ref

Customer Ref

Curr

Outstanding Balance

USD Eqv

Issue Date

Expiry Date

Tenor

Beneficiary

Ben Country

IM435425/05

TD605500055404-5

DOJI02622554JJ

USD

593,565.46

12-Mar-05

15-Jun-05

VOGUE FRONTIER CO. LTD

TAIWAN

IM435435/05

TD605500055414-5

DOJI0274ME890

USD

63,425.00

14 Mar-05

05-May-05

ALLIED EXPORT INDUSTRIES

INDIA

IM435482/05

TD605500055428-5

DOJI0285EP

USD

22,819.88

14-Mar-05

11-May-05

WORLD FORTUNE INTERNATIONAL COI

BRIT.VIRGIN ISLAND

IM435922/05

TD605500055484-5

DOJI0343ME883

USD

204,939.50

16-Mar-05

04-Jun-05

JYOTI APPARELS

INDIA

IM435926/05

TD605500055488-5

DOJI0347ME895

USD

28,349.00

16-Mar-05

05-May-05

TRAKYA TEKSTIL VE GIYIM

TURKEY

IM435927/05

TD605500055489-5

DOJI0348ME896

USD

252,370.00

16-Mar-05

15-May-05

ULUDAG TEKSTIL KONFEKSIYON GIYIM

TURKEY

IM435928/05

TD605500055490-5

DOJI0349ME897

USD

123,784.92

16-Mar-05

04-Jun-05

MONTROSE MARKETING LTD.

SRI LANKA

IM435929/05

TD605500055491-5

DOJI0350ME898

USD

219,922.67

16-Mar-05

26-Jun-05

PRATTISON GARMENT LIMITED

HONG KONG

lM435930/05

TD605500055492-5

DOJI0351ME899

USD

323,737.61

16-Mar-05

20-Jun-05

M S EXEMPLARY COMPANY LTD

BANGLADESH

IM435931/05

TD605500055493-5

DOJI0352ME900

USD

2,032,409.50

16-Mar-05

20-Jun-05

KUK RIM LTD

KOREA REPUBLIC

IM435932/05

TD605500055494-5

DOJI0353ME901

USD

187,015.76

16 Mar 05

30-Jun-05

UNITEX FASHIONS (INDIA) PVT LTD

INDIA

IM435933/05

TD605500055495-5

DOJI0357ME902

USD

55,107.50

55,107,50

16-Mar-05

25-May-05

HAIYAN WELCOME TEXTILE INDUSTRY

CHINA

IM435934/05

TD605500055496-5

DOJI0355ME903

USD

44,340.97

16-Mar-05

06-Jun-05

EFFORT GARMENT CO. LTD.

TAIWAN

IM435935/05

TD605500055497-5

DOJI0356ME904

USD

142,625.00

16-Mar-05

20-Jun-05

ALLIED EXPORT INDUSTRIES

INDIA

IM435937/05

TD605500055499-5

DOJI0358ME906

USD

64,600.00

16-Mar-05

06-Jul-05

DEEPAK INDUSTRIES

INDIA

IM435936/05

TD605500055498-5

DOJI0357ME905

USD

185,370.28

17-Mar-05

26-May-05

M S UNICON INTERNATIONAL (PVT)LTD

PAKISTAN

IM436079/05

TD605500055500-5

DOJI03592571JJ

USD

609,983.92

18-Mar-05

15-Jul-05

A JU TRADING CO. LTD.

KOREA REPUBLIC

IM436080/05

TD605500060001-5

DOJI03602560JJ

USD

47,313.00

18-Mar-05

14-Jul-05

HONJEN INDUSTRIAL LTD

TAIWAN

IM436081/05

TD605500060002-5

DOJI03612582JJ

USD

446,109.93

18-Mar-05

14-Aug-05

EASY WORLD CO., LTD - KOREA

KOREA REPUBLIC

IM436083/05

TD605500060004-5

DOJI03632546JJ

USD

504,715.55

18-Mar-05

14-Jun-05

EROS CAMASIRLARI A.S.

TURKEY

IM436084/05

TD605500060005-5

DOJI03642557JJ

USD

112,203.00

18-Mar-05

30-Jun-05

EVA SWEATER LTD.

BANGLADESH

IM436086/05

TD605500060007-5

DOJI03662577JJ

USD

44,415.00

18-Mar-05

14-Jul-05

YONGWOO MODE CO.

KOREA-REPUBLIC

IM436166/05

TD605500060008-5

DOJI0367JW

USD

187,963.66

18-Mar-05

15-May-05

WIDEWAY (CHINA) LIMITED

HONG KONG

IM436167/05

TD605500060011-5

DOJI0370NM

USD

106,789.76

18-Mar-05

16-May-05

DO1 MARKETING SERVICE

KOREA REPUBLIC

IM436169/05

TD605500060018-5

DOJI0377BA

USD

19,586.80

18-Mar-05

25-Apr-05

DO1 MARKETING SERVICE

KOREA REPUBLIC

IM436170/05

TD605500060019-5

DOJI0378CL

USD

20,731.31

18-Mar-05

01-May-05

WORLD FORTUNE INTERNATIONAL COI

BRIT.VIRGIN ISLAND

IM436171/05

TD605500060020-5

DOJI0379CL

USD

8,239.00

18-Mar-05

13-May-05

JAY ONE TRADING CORP.

KOREA REPUBLIC

IM436172/05

TD605500060021-5

DOJI0380CL

USD

58,665.50

18-Mar-05

05-Jun-05

HONG KONG WINTAI GARMENT LTD.

HONG KONG

IM436159/05

TD605500060022-5

DOJI0381CL

USD

16,340.91

18-Mar-05

01-Jul-05

HONG KONG WINTAI GARMENT LTD.

HONG KONG

IM436174/05

TD605500060025-5

DOJI0384CL

USD

178,150.14

18-Mar-05

30-May-05

WIDEWAY (CHINA) LIMITED

HONG KONG

IM436175/05

TD605500060026-5

DOJI0385BA

USD

19,052.38

18-Mar-05

30-May-05

WIDEWAY (CHINA) LIMITED

HONG KONG

IM436152/05

TD605500060027-5

DOJI00386AL

USD

41,387.52

18-Mar-05

30-Jun-05

WIDEWAY (CHINA) LIMITED

HONG KONG

IM436178/05

TD605500060034-5

DOJI0393NM

USD

2,503.68

18-Mar-05

22-Apr-05

JAY ONE TRADING CORP.

KOREA REPUBLIC

IM436179/05

TD605500060035-5

DOJI0394NM

USD

3,682.32

18-Mar-05

07-May-05

JAY ONE TRADING CORP.

KOREA REPUBLIC

IM436180/05

TD605500060037-5

DOJI0396AL

USD

4,168.50

18-Mar-05

06-May-05

A.O. TEXTILES, INC.

UNITED STATES

IM436082/05

TD605500060003-5

DOJI0362541LN

USD

107,624.16

21-Mar-05

04-Jun-05

WAI LAM MAO IEK HONG

MACAO

IM436163/05

TD605500060033-5

DOJI0392NM

USD

7,725.00

22-Mar-05

01-May-05

NOAH FABRIC NEW YORK

UNITED STATES

1M436085/05

TD605500060006-5

DOJI03652580LN

USD

93,198.63

23-Mar-05

04-Jun-05

M S BENGAL FINE KNITEX LTD

BANGLADESH

IM436495/05

TD605500060039-5

DOJI03982564JJ

USD

3,353,734.01

24-Mar-05

19-Jul-05

FORTUNELY INTERNATIONAL LTD

HONG KONG

IM436497/05

TD605500060041-5

DOJI04002587LN

USD

259,073.63

24-Mar-05

04-Aug-05

SAYTAZ INTERNATIONAL

BANGLADESH

IM436500/05

TD605500060042-5

DOJI0401ME907

USD

45,750.00

24-Mar-05

20-Jun-05

XINRUN KNITTING COMPANY LTD.

HONG KONG

IM436501/05

TD605500060043-5

DOJI0402ME908

USD

54,400.00

24-Mar-05

20-Jun-05

INJAE TRADING COMPANY

HONG KONG

IM436503/05

TD605500060045-5

DOJI0404ME910

USD

224,696.55

24-Mar-05

20-Jun-05

YAW CHING ENTERPRISES COMPANY,

TAIWAN

IM436504/05

TD605500060046-5

DOJI0405ME911

USD

421,051.66

24-Mar-05

14-Jun-05

ULUDAG TEKSTIL KONFEKSIYON GIYIM

TURKEY

IM436520/05

TD605500060049-5

DOJI0409LL

USD

40,634.96

24-Mar-05

15-May-05

TUN YUN TEXTILE CO. LTD

TAIWAN


		Outstanding Report — Import LC		Report as of 11-May-05 Page 5 of 10

Lc Ref No

CAR Ref

Customer Ref

Curr

Outstanding Balance

USD Eqv

Issue Date

Expiry Date

Tenor

Beneficiary

Ben Country

IM436521/05

TD605500060050-5

DOJI0410LL

USD

85,986.00

24-Mar-05

15-May-05

CHY JYE GARMENT

TAIWAN

IM436524/05

TD605500060053-5

DOJI0413JWJ

USD

263,246.29

24-Mar-05

04-May-05

TUN YUN TEXTILE CO. LTD

TAIWAN

1M436526/05

TD605500060055-5

DOJI0415AL

USD

31,349.70

24-Mar-05

02-May-05

PT, PAN BROTHERS TEX

INDONESIA

IM436529/05

TD605500060058-5

DOJI0418NM

USD

51,985.01

24 Mar-05

08-Jun-05

KOWATEX LIMITED

HONG KONG

IM436532/05

TD605500060062-5

DOJI0422BA

USD

142,943.40

24-Mar-05

15-Jul-05

NOAH FABRIC NEW YORK

UNITED STATES

IM436533/05

TD605500060063-5

DOJI0423CL

USD

107,645.80

24-Mar-05

30-Jun-05

WIDEWAY (CHINA) LIMITED

HONG KONG

IM436582/05

TD605500060066-5

DOJI0426ME912

USD

28,889.00

25-Mar-05

04-Jun-05

JYOTI APPARELS

INDIA

IM436502/05

TD605500060044-5

DOJI0403ME909

USD

82,378.50

29-Mar-05

08-Jun-05

JRB HOWARD INTERNATIONAL CO.LTD.

TAIWAN

IM436583/05

TD605500060067-5

DOJI0427ME913

USD

88,755.59

30-Mar-05

20-Jun-05

M S UNICON INTERNATIONAL (PVT)

PAKISTAN

IM436988/05

TD605500060068-5

DOJI04282565JJ

USD

672,705.49

31-Mar-05

23-Jul-05

CHEN FENG INDUSTRIES CO. LTD.

TAIWAN

IM436984/05

TD605500060069-5

DOJI00429EP

USD

51,870.80

31-Mar-05

11-May-05

CHARTKAR INTERNATIONAL LTD.

HONG KONG

IM436989/05

TD605500060070-5

DOJI0430AL

USD

45,327.17

31-Mar-05

12-Jun-05

HONG KONG SHUERTAI CO. LTD

HONG KONG

IM436990/05

TD605500060071-5

DOJI0431JW

USD

387,157.32

31-Mar-05

14-Jun-05

HONG KONG SHUERTAI CO. LTD

HONG KONG

IM436987/05

TD605500060072-5

DOJI0423JW

USD

380,977.34

31-Mar 05

03-Jul-05

HONG KONG SHUEPTAI CO. LTD

HONG KONG

IM436991/05

TD605500060073-5

DOJI0433RR

USD

58,240.16

31-Mar-05

26-Jun-05

HONG KONG SHUERTAI CO. LTD

HONG KONG

IM436992/05

TD605500060074-5

DOJI0434RR

USD

12,711.75

31-Mar-05

29-May-05

HONG KONG SHUERTAI CO. LTD

HONG KONG

IM436993/05

TD605500060075-5

DOJI0435LL

USD

77,283.36

31-Mar-05

05-Jun-05

HONG KONG SHUERTAI CO. LTD

HONG KONG

IM436994/05

TD605500060076-5

DOJI0436RR

USD

72,372.67

31-Mar-05

05-May-05

JACK TAN

HONG KONG

IM436995/05

TD605500060077-5

DOJI0438AL

USD

34,333.20

31-Mar-05

02-Jun-05

ONE TRADE CO., LTD.

KOREA REPUBLIC

IM436996/05

TD605500060078-5

DOJI0439NC

USD

4,670.78

31-Mar-05

29-Jun-05

TOGETHER TRADING CO., LTD.

KOREA REPUBLIC

IM436997/05

TD605500060079-5

DOJI0440AL

USD

116,014.80

31-Mar-05

27-Jun-05

DO1 MARKETING SERVICE

KOREA REPUBLIC

IM436998/05

TD605500060080-5

DOJI0441LL

USD

56,784.73

31-Mar-05

23-May-05

DO1 MARKETING SERVICE

KOREA REPUBLIC

IM436999/05

TD605500060081-5

DOJI0442NC

USD

46,300.25

31-Mar-05

02-May-05

DO1 MARKETING SERVICE

KOREA REPUBLIC

IM437000/05

TD605500060082-5

DOJI0443EP

USD

24,771.84

31-Mar 05

01-Jun-05

HON FANG GARMENT INDUSTIRAL COF

TAIWAN

IM437001/05

TD605500060083-5

DOJI0444EP

USD

25,841.09

31-Mar-05

30-Jun-05

HON FANG GARMENT INDUSTIRAL COF

TAIWAN

IM436985/05

TD605500060084-5

DOJI00445NC

USD

281,708.09

31-Mar-05

14-Jun-05

KOWATEX LIMITED

HONG KONG

IM437002/05

TD605500060085-5

DOJI0446AL

USD

36,221.22

31-Mar-05

13-Jun-05

HON FANG GARMENT INDUSTIRAL COF

TAIWAN

IM436986/05

TD605500060086-5

DOJI00447AL

USD

37,304.05

37.304.05

31-Mar-05

08-Jun-05

HON FANG GARMENT INDUSTIRAL COF

TAIWAN

IM437007/05

TD605500060088-5

DOJI00449BA

USD

16,625.18

31-Mar-05

08-Jun-05

KUM OH TRADING CO. LTD.

KOREA REPUBLIC

IM437009/05

TD605500060090-5

DOJI0451NM

USD

78,668.93

31-Mar-05

14-May-05

KOREA APPAREL CO., LTD.

KOREA REPUBLIC

IM437011/05

TD605500060092-5

DOJI0453BA

USD

56,162.70

31-Mar-05

25-Apr-05

JACK TAN

HONG KONG

IM437005/05

TD605500060093-5

DOJI00454NM

USD

164,769.98

31-Mar-05

15-May-05

JACK TAN

HONG KONG

IM437012/05

TD605500060094-5

DOJI0455NM

USD

363,859.45

31-Mar-05

20-Jul-05

PEARL BUYING SERVICES (PVT) LTD

BANGLADESH

IM437013/05

TD605500060095-5

DOJI0456BA

USD

185,350.56

01-Apr-05

06-Jun-05

PEARL BUYING SERVICES (PVT) LTD

BANGLADESH

IM437596/05

TD605500060096-5

DOJI04572578JJ

USD

149,544.36

08-Apr-05

14-Aug-05

YOUNG WOO MODE CO.

KOREA REPUBLIC

IM437597/05

TD605500060097-5

DOJI04582579JJ

USD

167,895.00

08-Apr-05

21-Jul-05

ZHEJIANG HUZHOU SILK GROUP IMP

CHINA

IM437598/05

TD605500060098-5

DOJI0459

USD

95,513.78

08-Apr-05

07-Jun-05

I 2 CONCEPTS INTERNATIONAL LTD

HONG KONG

IM437599/05

TD605500060099-5

DOJI04602597JJ

USD

642,763.80

08-Apr-05

15-Jul-05

WAI LAM MAO IEK HONG

MACAO

IM437600/05

TD605500060100-5

DOJI04612608JJ

USD

501,234.46

08-Apr-05

15-Jul-05

LIAONING CHENGDA CO. LTD.

CHINA

IM437601/05

TD605500060101-5

DOJI04622609JJ

USD

93,820.43

08-Apr-05

05-Jul-05

LIAONING CHENGDA CO. LTD.

CHINA

IM437602/05

TD605500060102-5

DOJI04632610JJ

USD

1,331,636.12

08-Apr-05

14-Aug-05

LIAONING CHENGDA CO. LTD.

CHINA

IM437603/05

TD605500060103-5

DOJI04642611JJ

USD

1,112,923.45

08-Apr-05

14-Aug-05

LIAONING CHENGDA CO. LTD.

CHINA

IM437604/05

TD605500060104-5

DOJI04652612LN

USD

131,762.54

08-Apr-05

14-Jul-05

LIAONING CHENGDA CO. LTD.

CHINA

IM437620/05

TD605500060105-5

DOJI0466BA

USD

74,540.89

08-Apr-05

15-May-05

TUN YUN TEXTILE CO. LTD

TAIWAN

IM437621/05

TD605500060106-5

DOJI0467AL

USD

98,582.22

198,582.22

08-Apr-05

15-May-05

HUXING INTERNATIONAL INC. (NY)

UNITED STATES


		Outstanding Report — Import LC		Report as of 11-May-05 Page 6 of 10

Outstanding

Lc Ref No

CAR Ref

Customer Ref

Curr

Balance

USD Eqv

Issue Date

Expiry Date

Tenor

Beneficiary

Ben Country

IM437623/05

TD605500060108-5

DOJI0469BA

USD

21,112.14

08-Apr-05

02-May-05

DO1 MARKETING SERVICE

KOREA REPUBLIC

IM437624/05

TD605500060109-5

DOJI0470NM

USD

82,987.20

08-Apr-05

15-May-05

HUXING INTERNATIONAL INC. (NY)

UNITED STATES

IM437625/05

TD605500060110-5

DOJI00471JW

USD

130,557.96

08-Apr-05

04-May-05

HUALEY KNITWEARS LTD.

TAIWAN

IM437626/05

TD605500060111-5

DOJI0472LL

USD

64,510.92

08-Apr-05

04-May-05

HUALEY KNITWEARS LTD.

TAIWAN

IM437627/05

TD605500060112-5

DOJI0473BA

USD

38,308.14

08-Apr-05

15-May-05

HUALEY KNITWEARS LTD.

TAIWAN

IM437628/05

TD605500060113-5

DOJI0474BA

USD

70,975.07

08-Apr-05

15-May-05

HON FANG GARMENT INDUSTIRAL COF

TAIWAN

IM437629/05

TD605500060114-5

DOJI0475BA

USD

23,698.27

08-Apr-05

15-May-05

TUN YUN TEXTILE CO. LTD

TAIWAN

IM437630/05

TD605500060115-5

DOI00476JW

USD

47,606.46

08-Apr-05

15-May-05

CHARTER ACE COMPANY LIMITED

IM437631/05

TD605500060116-5

DOJI0477JWJ

USD

333,872.85

08-Apr-05

30-Jul-05

PEARL BUYING SERVICES (PVT) LTD

BANGLADESH

IM436494/05

TD605500060038-5

DOJI03972563JJ

USD

4,400,032.10

11-Apr-05

31-Jul-05

FORTUNELY INTERNATIONAL LTD

HONG KONG

IM438042/05

TD605500060117-5

DOJI04782624JJ

USD

1,040,811.43

13-Apr-05

18-Jul-05

FORTUNELY INTERNATIONAL LTD

HONG KONG

IM438044/05

TD605500060119-5

DOJI0480ME915

USD

313,994.13

13-Apr-05

21-Jul-05

HAIYANG LANSEN TEXTILES

CHINA

IM438046/05

TD605500060121-5

DOJI0482ME917

USD

4,287,229.50

13-Apr-05

21-Jul-05

KUK RIM LTD.

KOREA REPUBLIC

IM438047/05

TD605500060122-5

DOJI0483ME918

USD

647,219.06

13-Apr-05

21-Jul-05

M S EXEMPLARY COMPANY LTD.

BANGLADESH

IM438048/05

TD605500060123-5

DOJI0484ME919

USD

39,328.79

13-Apr-05

15-Jul-05

UNITEX FASHIONS (INDIA) PVT. LTD.

INDIA

IM438049/05

TD605500060124-5

DOJI0485ME920

USD

72,648.60

13-Apr-05

14-Jun-05

FOREMOST INDIA

INDIA

IM438050/05

TD605500060125-5

DOJI0486ME921

USD

363,632.50

13-Apr-05

21-Jul-05

LIAONING CHENG DA ENTERPRISE CO.

CHINA

IM438051/05

TD605500060126-5

DOJI0487ME922

USD

51,353.50

13-Apr-05

21-Jul-05

XINRUN KNITTING COMPANY LTD.

HONG KONG

IM438052/05

TD605500060127-5

DOJI0488ME923

USD

30,937.50

13-Apr-05

06-Jul-05

INJAE TRADING COMPANY

HONG KONG

IM438054/05

TD605500060129-5

DOJI0490ME925

USD

150,040.89

13-Apr-05

21-Ju1-05

ALLIED EXPORT INDUSTRIES

INDIA

IM438055/05

TD605500060130-5

DOJI0491ME926

USD

212,460.50

13-Apr-05

15-Jul-05

MARAL OVERSEAS

INDIA

IM438077/05

TD605500060131-5

DOJI0492NC

USD

328,820.50

13-Apr-05

30-Jun-05

MONTROSE (FAR EAST) LIMITED

HONG KONG

IM438067/05

TD605500060132-5

DOJI0493CL

USD

215,957.05

13-Apr-05

30-Jun-05

KISH EXPORTS LIMITED

INDIA

IM438068/05

TD605500060133-5

DOJI0494BA

USD

329,466.41

13-Apr-05

06-Aug-05

PEARL BUYING SERVICES (PVT) LTD

BANGLADESH

IM438078/05

TD605500060134-5

DOJI0495JWJ

USD

337,205.11

13-Apr-05

20-Jun-05

PEARL BUYING SERVICES (PVT) LTD

BANGLADESH

IM438079/05

TD605500060135-5

DOJI0496AL

USD

109,878.48

13-Apr-05

18-Jun-05

SPRING STAR CO., LTD.

KOREA REPUBLIC

IM438080/05

TD605500060136-5

DOJI0497LL

USD

84,626.14

13-Apr-05

30-Jun-05

WIDEWAY (CHINA) LIMITED

HONG KONG

IM438066/05

TD605500060137-5

DOJI00498NM

USD

15,557.04

13-Apr-05

30-Jun-05

WIDEWAY (CHINA) LIMITED

HONG KONG

IM438069/05

TD605500060138-5

DOJI0499JW

USD

316,896.54

13-Apr-05

08-May-05

SKYLITE FASHION (HONG KONG) LTD.

HONG KONG

IM438070/05

TD605500060139-5

DOJI0500JW

USD

6,111.33

13-Apr-05

14-Jun-05

BUISHINE INTERNATIONAL CO., LTD

TAIWAN

IM438081/05

TD605500060140-5

DOJI0501AL

USD

37,304.05

13-Apr-05

08-Jun-05

HON FANG GARMENT INDUSTIRAL OF

TAIWAN

IM438082/05

TD605500060141-5

DOJI0502RR

USD

43,998.52

13-Apr-05

05-May-05

HAULEY KNITWEARS, LTD.

TAIWAN

IM438071/05

TDC05500060142-5

DOJI0503NC

USD

177,148.70

13-Apr-05

25-Jun-05

KOWATEX LIMITED

HONG KONG

IM438083/05

TD605500060143-5

DOJI0504LL

USD

9,093.20

13-Apr-05

16-May-05

WORLD FORTUNE INTERNATIONAL CO

BRIT.VIRGIN ISLAND

IM438073/05

TD605500060145-5

DOJI0506NM

USD

49,449.60

13-Apr-05

15-May-05

HON FANG GARMENT INDUSTIRAL COF

TAIWAN

IM438084/05

TD605500060146-5

DOJI0507BA

USD

45,718.44

13-Apr-05

15-Jun-05

HAE YANG KNITTING FACTORY, LTD.

KOREA REPUBLIC

IM438085/05

TD605500060147-5

DOJI0508NM

USD

44,791.87

13-Apr-05

23-Jun-05

HAE YANG KNITTING FACTORY, LTD.

KOREA REPUBLIC

IM438086/05

TD605500060148-5

DOJI0509NM

USD

7,735.68

13-Apr-05

23-Jun-05

HAE YANG KNITTING FACTORY, LTD.

KOREA REPUBLIC

IM438087/05

TD605500060149-5

DOJI0510NM

USD

8,200.80

13-Apr-05

30-Jun-05

HAE YANG KNITTING FACTORY, LTD.

KOREA REPUBLIC

IM438088/05

TD605500060150-5

DOJI0511NM

USD

133,151.62

13-Apr-05

15-Jun-05

HAE YANG KNITTING FACTORY, LTD.

KOREA REPUBLIC

IM438074/05

TD605500060151-5

DOJI0512NM

USD

51,634.44

13-Apr-05

07-Jul 05

HAE YANG KNITTING FACTORY, LTD.

KOREA REPUBLIC

1M438075/05

TD605500060152-5

DOJI0513NM

USD

28,835.30

13-Apr-05

29-May-05

SEOHEUNG TRADING CO., LTD.

KOREA REPUBLIC

IM438076/05

TD605500060153-5

DOJI00514BA

USD

40,942.80

13-Apr-05

29-May-05

KOREA APPAREL CO., LTD.

KOREA REPUBLIC

IM438043/05

TD605500060118-5

DOJI0479ME914

USD

497,805.00

14-Apr-05

21-Jul-05

GRAND HING KNITTING FACTORY LTD.

HONG KONG

IM438045/05

TD605500060120-5

DOJI0481ME916

USD

922,120.23

14-Apr-05

15-Jul-05

MONTROSE MARKETING LTD.

SRI LANKA


		Outstanding Report — Import LC		Report as of 11-May-05 Page 7 of 10

Outstanding

Lc Ref No

CAR Ref

Customer Ref

Curr

Balance

USD Eqv

Issue Date

Expiry Date

Tenor

Beneficiary

Ben Country

IM438053/05

TD605500060128-5

DOJI0489ME924

USD

102,920.69

14-Apr-05

06-Jul-05

M S UNICON INTERNATIONAL (PVT)

PAKISTAN

IM438209/05

TD605500060154-5

DOJI0515NM

USD

205,074.57

14-Apr-05

27-Jun-05

DAE GU APPAREL COPRORATION

KOREA REPUBLIC

IM438210/05

TD605500060155-5

DOJI0516NM

USD

43,847.86

14-Apr-05

04-Jun-05

INJAE TRADING COMPANY

HONG KONG

IM438211/05

TD605500060150-5

DOJI0517NM

USD

107,641.01

14-Apr-05

25-Jun-05

GRAND HING KNITTING FACTORY LTD.

HONG KONG

IM438213/05

TD605500060158-5

DOJI0519NM

USD

1,947.08

1,947.28

14-Apr-05

29-May-05

SEOHEUNG TRADING CO. LTD

KOREA REPUBLIC

IM438220/05

TD605500060159-5

DOJI0520AL

USD

117,476.97

14-Apr-05

30-Jun-05

ALLIANCE MERCHANDISING P. LTD.

INDIA

IM438221/05

TD605500060160-5

DOJI0521NC

USD

13,957.12

14-Apr-05

04-May-05

ALLIANCE MERCHANDISING P. LTD.

INDIA

IM438222/05

TD605500060161 -5

DOJI0522NC

USD

37,431.45

14-Apr-05

01-Jun-05

ALLIANCE MERCHANDISING P. LTD.

INDIA

IM438223/05

TD605500060162-5

DOJI0523AL

USD

77,214.97

14-Apr-05

01-Jun-05

ALLIANCE MERCHANDISING P. LTD.

INDIA

IM438224/05

TD605500060163-5

DOJI0524BA

USD

70,556.46

14-Apr-05

01-Jun-05

ALLIANCE MERCHANDISING P. LTD.

INDIA

IM438233/05

TD605500060164-5

DOJI0525JWJ

USD

142,176.27

14-Apr-05

25-May-05

ALLIANCE MERCHANDISING P. LTD.

INDIA

IM438225/05

TD605500060165-5

DOJI0526BA

USD

58,409.99

14-Apr-05

15-May-05

ALLIANCE MERCHANDISING P. LTD.

INDIA

IM438218/05

TD605500060166-5

DOJI00527EP

USD

704.81

l4-Apr-05

15-May-05

PT UNGARAN SARI GARMENTS

INDONESIA

IM438226/05

TD605500060167-5

DOJI0528AL

USD

218,369.80

14-Apr-05

15-May-05

PT UNGARAN SARI GARMENTS

INDONESIA

IM438219/05

TD605500060168-5

DOJI00529JW

USD

4,713.11

14-Apr-05

15-May-05

PT UNGARAN SARI GARMENTS

INDONESIA

IM438227/05

TD605500060169-5

DOJI0530NM

USD

70,955,28

7 0,955.28

14-Apr-05

05-May-05

CHAMPION CITY INT'L CORP.

TAIWAN

IM438228/05

TD605500060170-5

DOJI0531JW

USD

13.60

14-Apr-05

07-May-05

AKIN TFKSTIL AS

TURKEY

IM438229/05

TD605500060171 -5

DOJI0532RR

USD

90,598.80

l4-Apr-05

04-Jun-05

JAY ONE TRADING CORP.

KOREA REPUBLIC

IM438230/05

TD605500060172-5

DOJI0533RR

USD

55,383.10

14-Apr-05

31-May-05

YOUNGHWA TEXTILE CO. LTD.

KOREA REPUBLIC

IM438231/05

TD605500060173-5

DOJI0534CL

USD

232,462.76

14-Apr-05

06-Aug-05

PEARL BUYING SERVICES (PVT) LTD

BANGLADESH

IM438232/05

TD605500060174-5

DOJI0535BA

USD

124,412.46

14-Apr-05

06-Aug-05

PEARL BUYING SERVICES (PVT) LTD

BANGLADESH

IM438212/05

TD605500060157-5

DOJI0518BA

USD

388,834.91

15-Apr-05

03-May-05

HUXING INTERNATIONAL, INC. (NY)

UNITED STATES

IM438657/05

TD605500060175-5

DOJI05362632LN

USD

2,312,777.88

19-Apr-05

03-Aug-05

SAYTAZ INTERNATIONAL

BANGLADESH

IM438798/05

TD605500060176-5

DOJI05372647LN

USD

38,102.40

20-Apr-05

13-May-05

CROWN TEXTILE

PAKISTAN

IM438939/05

TD605500060177-5

DOJI05382635JJ

USD

21,420.00

21-Apr-05

14-Jun-05

SAN WAI GARMENT FACTORY

MACAO

IM438940/05

TD605500060178-5

DOJI05392636JJ

USD

46,305.00

21-Apr-05

21-Jun-05

GOLDTREND ENTERPRISES LTD

IM438941/05

TD605500060179-5

DOJI0540244JJ

USD

1,075,810.80

21-Apr-05

29-Aug-05

MING TAI KNITTING GARMENT FTY LTD

HONG KONG

IM438942/05

TD605500060180-5

DOJI0541ME927

USD

11,400.00

21-Apr-05

01-Jul-05

SONA GARMENTS

INDIA

IM438944/05

TD605500060182-5

DOJI0543ME929

USD

264,262.95

21-Apr-05

21-Jul-05

JRB HOWARD INTERNATIONAL CO.,LTD

TAIWAN

IM438945/05

TD605500060184-5

DOJI00544NM

USD

1,194,305.58

21-Apr-05

14-Jun-05

PYL APPAREL LIMITED

HONG KONG

IM438946/05

TD605500060185-5

DOJI0545AL

USD

264,233.65

21-Apr-05

14-Jun-05

PYL APPAREL LIMITED

HONG KONG

IM438947/05

TD605500060186-5

DOJI0546RR

USD

152,998.67

21-Apr-05

14-Jun-05

PYL APPAREL LIMITED

HONG KONG

IM438948/05

TD605500060187-5

DOJI0547LL

USD

419,481.75

21-Apr-05

14-Jun-05

PYL APPAREL LIMITED

HONG KONG

IM438949/05

TD605500060188-5

DOJI0548EP

USD

274,038.75

21-Apr-05

14-Jun-05

PYL APPAREL LIMITED

HONG KONG

IM438950/05

TD605500060189-5

DOJI0549CL

USD

327,515.70

21-Apr-05

14-Jun-05

PYL APPAREL LIMITED

HONG KONG

IM438951/05

TD605500060190-5

DOJI0550NM

USD

87,601.24

21-Apr-05

14-Jun-05

PYL APPAREL LIMITE

HONG KONG

lM438952/05

TD602200060191-5

DOJI0550JW

USD

293,002.85

21-Apr-05

14-Jan-05

PYL APPAREL LIMITED

HONG KONG

IM438953/05

TD605500060192 -5

DOJI0551BA

USD

815,807.59

21-Apr-05

14-Jun-05

PYL APPAREL LIMITED

HONG KONG

IM438954/05

TD605500060193-5

DOJI0552EP

USD

51,599.91

21-Apr-05

24-Jun-05

NOAH FABRIC NEW YORK

UNITED STATES

IM438955/05

TD605500060194-5

DOJI0553RR

USD

21,436.36

21-Apr-05

17-Jun-05

NOAH FABRIC NEW YORK

UNITED STATES

IM438956/05

TD605500060195 -5

DOJI0554NC

USD

13,750.50

21-Apr-05

01-Jul-05

NOAH FABRIC NEW YORK

UNITED STATES

IM438957/05

TD605500060196-5

DOJI0555NC

USD

610,363.33

21-Apr-05

14-Jun-05

PYL APPAREL LIMITED

HONG KONG

IM438958/05

TD605500060197-5

DOJI0556NC

USD

440,210.67

21-Apr-05

30-Aug-05

PEARL BUYING SERVICES (PVT) LTD

BANGLADESH

IM438959/05

TD605500060198-5

DOJI0557RR

USD

23,196.51

21-Apr-05

03-Jul-05

SKYLITE FASHION (HONG KONG) LTD

HONG KONG

IM438960/05

TD605500060199-5

DOJI0558JW

USD

920,954.43

21-Apr-05

30-Jun-05

SKYLITE FASHION (HONG KONG) LTD

HONG KONG


		Outstanding Report — Import LC		Report as of 11-May-05 Page 8 of 10

Outstanding

Lc Ref No

CAR Ref

Customer Ref

Curr

Balance

USD Eqv

Issue Date

Expiry Date

Tenor

Beneficiary

Ben Country

IM438987/05

TD605500060200-5

DOJI0559NM

USD

212,036.58

212 036 58

21-Apr-05

29-May-05

HUXING INTERNATIONAL, INC. (NY)

UNITED STATES

IM438988/05

TD605500060201-5

DOJI0560CL

USD

125,141.66

21-Apr-05

30-May-05

FUN YVES INERMAINAL COMPANY

TAIWAN

IM438989/05

TD605500060202-5

DOJI0561BA

USD

200,238.85

2l-Apr-05

30-May-05

HONG KONG SHUERTAI CO. LTD

HONG KONG

IM438971/05

TD605500060203-5

DOJI0562NM

USD

55,670.99

21-Apr-05

11-Jun-05

CK INT’L CORP

KOREA REPUBLIC

IM438986/05

TD605500060204-5

DOJI00563NM

USD

25,772.34

21-Apr-05

25-Jun-05

CK INT’L CORP

KOREA REPUBLIC

IM438972/05

TD605500060205-5

DOJI0564NM

USD

35,878.91

21-Apr-05

25-Jun-05

CK INT’L CORP

KOREA REPUBLIC

IM438973/05

TD605500060206-5

DOJ10565NM

USD

18,418.75

21-Apr-05

28-Jun-05

NINGBO FANHUA WOLLEN SWEATER C

CHINA

IM438974/05

TD605500060207-5

DOJI0566NM

USD

54,072.75

21-Apr-05

05-Jul-05

WANG HING KNITTING FACTORY LTD

HONG KONG

IM438975/05

TD605500060208-5

DOJI0567NM

USD

44,395.70

21-Apr-05

05-Jul-05

MING SHING TRADING LTD

HONG KONG

IM438976/05

TD605500060209-5

DOJI0568NM

USD

58,408.77

58 408 77

21-Apr-05

21-Jun-05

KING BEST INDUSTRIAL LTD.

HONG KONG

IM438977/05

TD605500060210-5

DOJI0569CL

USD

203,141.16

21-Apr-05

25 Jun-05

MING SHING TRADING LTD

HONG KONG

IM438978/05

TD605500060211-5

DOJI0570NC

USD

2,704.78

21-Apr-05

11-Jun-05

JAY ONE TRADING CORP

KOREA REPUBLIC

IM438979/05

TD605500060212-5

DOJI0571RR

USD

87,321.55

21-Apr-05

15-May-05

MERIMO LTD.

BANGLADESH

IM438980/05

TD605500060213-5

DOJI0572NM

USD

122,522.40

21-Apr-05

25-May-05

MERIM CORPORATION

KOREA REPUBLIC

IM438981/05

TD605500060214-5

DOJI0573JWJ

USD

61,413.75

21-Apr-05

05-Jun-05

GLOBAL P AND M INC.

UNITED STATES

IM438982/05

TD605500060215-5

DOJI0574JWJ

USD

19,281.60

21-Apr-05

15-Jun-05

TAECHANGE ENTERPRISE CO., LTD.

KOREA REPUBLIC

IM438983/05

TD605500060216-5

DOJI0575BA

USD

17,304.00

21-Apr-05

26-May-05

TAECHANGE ENTERPRISE CO., LTD.

KOREA REPUBLIC

IM438984/05

TD605500060217-5

DOJI0576CL

USD

17,448.20

21-Apr-05

12-Jun-05

CHANNEL FABRICS INC.

UNITED STATES

IM438985/05

TD605500060218-5

DOJI0577NC

USD

408,590.49

21-Apr-05

06 Aug 05

PEARL BUYING SERVICES (PVT) LTD

BANGLADESH

IM438943/05

TD605500060181-5

DOJI0542ME928

USD

314,446.43

22-Apr-05

21-Jul-05

YAW CHING ENTERPRISES COMPANY

TAIWAN

IM439480/05

TD605500060219-5

DOJI05782614JJ

USD

103,556.25

27-Apr 05

14-Jun-05

TACTICIAN IND CO LTD

TAIWAN

IM439481/05

TD605500060220-5

DOJI00579EP

USD

118,322.65

27-Apr-05

15-Jun-05

HAE YANG KNITTING FACTORY, LTD

KOREA REPUBLIC

IM439545/05

TD605500060252-5

DOJI0611CL

USD

121,903.06

27-Apr-05

14-Jun-05

I ONE TRADE CO., LTD.

KOREA REPUBLIC

IM439482/05

TD605500060221-5

DOJI00580EP

USD

24,108.11

28-Apr-05

14-Jun-05

GRAND HING KNITTING FACTORY LTD.

HONG KONG

IM439516/05

TD605500060222-5

DOJI0581EP

USD

62,632.08

28-Apr-05

08-Jul-05

LIAONING CHENG DA ENTERPRISE CO.

CHINA

IM439530/05

TD605500060223-5

DOJI0582JWJ

USD

117,030.31

28-Apr-05

29-May-05

KOREA APPAREL CO., LTD.

KOREA REPUBLIC

IM439517/05

TD605500060224-5

DOJI0583AL

USD

71,751.49

28-Apr-05

08-Jul-05

HAE YANG KNITTING FACTORY, LTD.

KOREA REPUBLIC

IM439531/05

TD605500060225-5

DOJ10584AL

USD

121,151.52

28-Apr-05

04-Jun-05

INJAE TRADING COMPANY

HONG KONG

IM439532/05

TD605500060226-5

DOJI0585AL

USD

45,496.08

28-Apr-05

25-Jun-15

INJAE TRADING COMPANY

HONG KONG

IM439518/05

TD605500060227-5

DOJI0586LL

USD

81,382.54

81,382.51

28-Apr-05

29-May-5

KOREA APPAREL CO LTD

KOREA REPUBLIC

IM439519/05

TD605500060228-5

DOJI0587AL

USD

44,737.20

28-Apr-05

04-Jun-05

INJAE TRADING COMPANY

HONC KONG

IM439520/05

TD605500060229-5

DOJI0588AL

USD

41,616.00

28-Apr-05

04-Jun-05

CK INTL CORP

KOREA REPUBLIC

IM439533/05

TD605500060230-5

DOJI0589AL

USD

42,521.15

28-Apr-05

01-Jul-05

CK INT’L CORP

KOREA REPUBLIC

IM439521/05

TD605500060231-5

DOJI0590NC

USD

37,507.44

28-Apr-05

08-Jul-05

HAE YANG KNITTING FACTORY, LTD.

KOREA REPUBLIC

IM439515/05

TD605500060232-5

DOJI00591NC

USD

8,555.76

28-Apr-05

19-Jun-05

KOREA APPAREL CO., LTD.

KOREA REPUBLIC

IM439534/05

TD605500060233-5

DOJI0592NC

USD

64,433.40

28-Apr-05

14-Jun-05

KOREA APPAREL CO., LTD.

KOREA REPUBLIC

IM439522/05

TD605500060234-5

DOJI0593NC

USD

148,953.86

28-Apr-05

29-May-05

SEOHEUNG TRADING CO., LTD.

KOREA REPUBLIC

IM439523/05

TD605500060235-5

DOJI0534NC

USD

36,097.19

36,097 19

28-Apr-05

19-Jun-05

SEOHEUNG TRADING CO. , LTD

KOREA REPUBLIC

IM439524/05

TD605500060236-5

DOJI0595JW

USD

44,528.51

28-Jun-05

04-Jun-05

LIAONING CHENG DA ENTERPRISE CO.

CHINA

IM439525/05

TD605500000237-5

DOJI0596JW

USD

44,937.02

28-Apr-05

04-Jun-05

GRAND HING KNITTING FACTORY LTD

HONG KONG

IM439526/05

TD605500060238-5

DOJI0597NC

USD

73,149.30

28-Apr-05

02 Jul-05

CK INT’L CORP

KOREA REPUBLIC

IM439527/05

TD605500060239-5

DOJI0598EP

USD

14,227.98

28-Apr-05

01-Jul-05

CK INT’L CORP

KOREA REPUBLIC

IM439536/05

TD605500060241-5

DOJI0600JWJ

USD

2,781.00

28-Apr-05

04-Jun-05

JAY ONE TRADING CORP.

KOREA REPUBLIC

IM439537/05

TD605500060242-5

DOJI0601BA

USD

39,490.20

28-Apr-05

04-Jun-05

JAY ONE TRADING CORP.

KOREA REPUBLIC

IM439538/05

TD605500060243-5

DOJI0602CL

USD

42,518.40

28-Apr-05

06-Jul-05

REALTY TEXTILES CO., LTD.

HONG KONG


		Outstanding Report — Import LC		Report as of 11-May-05 Page 9 of 10

Outstanding

Lc Ref No

CAR Ref

Customer Ref

Curr

Balance

USD Eqv

Issue Date

Expiry Date

Tenor

Beneficiary

Ben Country

IM439539/05

TD605500060244-5

DOJI0603ME930

USD

39,300.00

28-Apr-05

15-Jul-05

GO GO INTERNATIONAL

INDIA

IM439540/05

TD605500060245-5

DOJI0604NM

USD

69,029.62

28-Apr-05

25-May-05

CHARTER ACE COMPANY LIMITED

IM439541/05

TD605500060246-5

DOJIC605NM

USD

33,937.85

28-Apr-05

25-Jun-05

FUN YVES INTERNATIONAL COMPANY

TAIWAN

IM439542/05

TD605500060247-5

DOJI0606CL

USD

197,756.78

28-Apr-05

21-Jun-05

FUN YVES INTERNATIONAL COMPANY

TAIWAN

IM439528/05

TD605500060248-5

DOJI0607BA

USD

36,221.22

28-Apr-05

08-Jun-05

HON FANG CARMENT INDUSTIRAL COF

TAIWAN

IM439543/05

TD605500060249-5

DOJI0608NM

USD

32,419.78

28-Apr-05

23-Jun-05

CHARTER ACE COMPANY LIMITED

IM439529/05

TD605500060250-5

DOJI0609NM

USD

100,245.60

28-Apr-05

05-Jun-05

HUXING INTERNATIONAL, INC.(NY)

UNITED STATES

IM439544/05

TD605500060251-5

DOJI0610CL

USD

55,255.44

28-Apr-05

30-May-05

I ONE TRADE CO., LTD.

KOREA REPUBLIC

IM439704/05

TD605500060253-5

DOJI0612NC

USD

107,884.78

28-Apr-05

20-Jun-05

WORLD FORTUNE INTERNATIONAL CO

BRIT.VIRGIN ISLAND

IM439535/05

TD605500060240-5

DOJI0599JW

USD

13,724.10

29-Apr-05

05-Jul-05

CK INT’L CORP

KOREA REPUBLIC

IM439835/05

TD605500060254-5

DOJI06132650JJ

USD

898,251.67

29-Apr-05

01-Aug-05

SKY EASY - HONG KONG- LIMITED

HONG KONG

IM439836/05

TD605500060255-5

DOJI06142658LN

USD

127,482.89

29-Apr-05

14-Jun-05

SHANGHAI BUNNINGS INTERNATIONAL

CHINA

IM440363/05

TD605500060259-5

DOJI06182652LN

USD

53,298.67

05-May-05

30-Jun-05

RARE VON INDIEN

INDIA

IM440364/05

TD605500060260-5

DOJI06192659LN

USD

15,727.48

05-May-05

11-Jun-05

SMART WEAR INTERNATIONAL

PAKISTAN

IM440365/05

TD605500060261-5

DOJI0602561LN

USD

129,634.15

05-May-05

30-May-05

SHANGHAI EVER BRIGHT TOWN CO. LT

CHINA

IM440381/05

TD605500060262-5

DOJI0621ME931

USD

50,212.50

05-May-05

21-Jul-05

HAIYAN WELCOME TEXTILE INDUSTRY

CHINA

IM440389/05

TD605500060263-5

DOJI0622ME932

USD

27,060.00

05-May-05

06-Jul-05

M S MAHAVIR INTERNATIONAL PVT LTD

INDIA

IM440383/05

TD605500060265-5

DOJI0624ME934

USD

239,820.83

05-May-05

20-Aug-05

HAIYANG LANSEN TEXTILES

CHINA

IM440384/05

TD605500060266-5

DOJI0625ME935

USD

267,195.12

05-May-05

04-Aug-05

MONTROSE MARKETING LTD.

SRI LANKA

IM440385/05

TD605500060267-5

DOJI0626ME936

USD

2,793,231.12

05-May-05

21-Aug-05

KUK RIM LTD.

KOREA REPUBLIC

IM440386/05

TD605500060268-5

DOJI0627ME937

USD

104,671.40

05-May-05

15-Jul-05

ULUDAG TEKSTIL KONFEKSIYON GIYIM

TURKEY

IM440585/05

TD605500060269-5

DOJI0628JWJ

USD

458,449.30

06-May-05

14-Aug-05

SPRING STAR CO., LTD.

KOREA REPUBLIC

IM440586/05

TD605500060270-5

DOJI0629NC

USD

178,517.85

06-May-05

25-Jun-05

NJU INTERNATIONAL DEVELOPING CO

TAIWAN

IM440587/05

TD605500060271-5

DOJI0630NC

USD

47,484.47

06-May-05

30-Jun-05

CHARTER ACE COMPANY LIMITED

IM440588/05

TD605500060272-5

DOJI0631LL

USD

22,197.85

06-May-05

08-Jun-05

HUALEY KNITWEARS LTD

TAIWAN

IM440589/05

TD605500060273-5

DOJI0632LL

USD

41,017.77

06-May-05

02-Jul-05

HUALEY KNITWEARS LTD

TAIWAN

IM440590/05

TD605500060274-5

DOJI0633EP

USD

71,123.87

28-May-05

28-Jul-05

FUN YVES INTERNATIONAL COMPANY

TAIWAN

IM440591/05

TD605500060275-5

DOJI0634AL

USD

22,304.24

06-May-05

14-Jun-05

FUN YVES INTERNATIONAL COMPANY

TAIWAN

IM440592/05

TD605500060276-5

DOJI0635NM

USD

141,457.68

06-May-05

08-Jun-05

HON FANG GARMENT INDUSTIRAL COF

TAIWAN

IM440593/05

TD605500060277-5

DOJI0636RR

USD

10,737.54

06-May-05

05-Jul-05

KING BEST INDUSTRIAL LTD.

HONG KONG

IM440594/05

TD605500060278-5

DOJI0637EP

USD

37,515.19

06-May-05

05-Jul-05

WANG HING KNITTING FACTORY LTD.

HONG KONG

IM440595/05

TD605500060279-5

DOJI0638RR

USD

169,038.07

06-May-05

18-Jun-05

NINGBO FANHUA WOLLEN SWEATER C

CHINA

IM440596/05

TD605500060280-5

DOJI0639JW

USD

24,159.72

06-May-05

21-Jun-05

KING BEST INDUSTRIAL LTD.

HONG KONG

IM440597/05

TD605500060281-5

DOJI0640NC

USD

6,381.94

06-May-05

05-Jun-05

HONG KONG SHUERTAI CO. LTD.

HONG KONG

IM440598/05

TD605500060282-5

DOJI0641NC

USD

8,519.04

06-May-05

03-Jul-05

HONG KONG SHUERTAI CO. LTD.

HONG KONG

IM440599/05

TD605500060283-5

DOJI0642NC

USD

100,525.90

06-May-05

03-Jul-05

HONG KONG SHUERTAI CO. LTD.

HONG KONG

IM440600/05

TD605500060284-5

DOJI0643NC

USD

226,774.15

06-May-05

03-Jul-05

HONG KONG SHUERTAI CO. LTD.

HONG KONG

IM440601/05

TD605500060285-5

DOJI0644LL

USD

89,227.15

06-May-05

26-Jun-05

HONG KONG SHUERTAI CO. LTD

HONG KONG

IM440602/05

TD605500060286-5

DOJI0645LL

USD

3,366.00

06-May-05

05-Jun-05

HONG KONG SHUERTAI CO. LTD

HONG KONG

IM440614/05

TD605500060287-5

DOJI00646NM

USD

35,298.10

06-May-05

15-Jun-05

JAY ONE TRADING CORP.

KOREA REPUBLIC

IM440603/05

TD605500060288-5

DOJI0648LL

USD

29,046.00

06-May-05

20-Jun-05

WORLD FORTUNE INTERNATIONAL CO

BRIT.VIRGIN ISLAND

IM440604/05

TD605500060289-5

DOJI0649LL

USD

13,029.50

06-May-05

10-Jun-05

WORLD FORTUNE INTERNATIONAL CO

BRIT.VIRGIN ISLAND

IM440605/05

TD605500060290-5

DOJI0650NM

USD

33,001.20

06-May-05

06-Jun-05

MOTONG TEXTILE CO LTD

TAIWAN

IM440606/05

TD605500060291-5

DOJI0651NM

USD

181,577.46

06-May-05

22-Aug-05

PEARL BUYING SERVICES (PVT) LTD

BANGLADESH

IM440607/05

TD605500060292-5

DOJI0652NC

USD

60,564.00

06-May-05

26-Jun-05

WORLD FORTUNE INTERNATIONAL CO

BRIT. VIRGIN ISLAND


		Outstanding Report — Import LC		Report as of 11-May-05 Page 10 of 10

Outstanding

Lc Ref No

CAR Ref

Customer Ref

Curr

Balance

USD Eqv

Issue Date

Expiry Date

Tenor

Beneficiary

Ben Country

IM440608/05

TD605500060293-5

DOJI0653EP

USD

32,445.00

06-May-05

26-Jun-05

WORLD FORTUNE INTERNATIONAL CO

BRIT VIRGIN ISLAND

JM440609/05

TD605500060294-5

DOJI0654NC

USD

32,187.50

06-May-05

01-Jul-05

WORLD FORTUNE INTERNATIONAL CO

BRIT VIRGIN ISLAND

IM440610/05

TD605500060295-5

DOJI0655NC

USD

18,879.90

18.879.90

06-May-05

26-Jun-05

WORLD FORTUNE INTERNATIONAL CO

BRIT.VIRGIN ISLAND

IM440612/05

TD605500060297-5

DOJI0657BA

USD

6,724.66

06-May-05

25-May-05

JACK TAN

HONG KONG

IM440613/05

TD605500060298-5

DOJI0658BA

USD

6,086.34

06-May-05

30-May-05

JACK TAN

HONG KONG

IM440617/05

TD605500060299-5

DOJI0659NM

USD

334,335.60

06-May-05

09-Jun-05

JACK TAN

HONG KONG

IM440618/05

TD605500060300-5

DOJI0660BA

USD

216,036.82

06-May-05

09-Aug-05

HONG KONG SHUERTAI CO. LTD

HONG KONG

IM440619/05

TD605500060301-5

DOJI0661NM

USD

48,837.60

06-May-05

25-May-05

SEJEE COMPANY LTD

HONG KONG

IM440620/05

TD605500060302-5

DOJI0662NM

USD

37,203.60

06-May-05

16-Jul-05

REALTY TEXTILES CO., LTD

HONG KONG

IM440616/05

TD605500060304-5

DOJI00664NM

USD

23,896.00

06-May 05

15-Jun-05

BNS INC.

KOREA REPUBLIC

IM440360/05

TD605500060256-5

DOJI06152678JJ

USD

94,760.00

09-May-05

30-Jun-05

BL GARMENT MFG

MADAGASCAR

IM440361/05

TD605500060257-5

DOJI06162677JJ

USD

46,692.99

09-May-05

05 Jul-05

EZ. CO, LTD

TAIWAN

IM440362/05

TD605500060258-5

DOJI06172676JJ

USD

40,116.44

09-May-05

14-Jun-05

E.Z. CO. LTD.

TAIWAN

IM440611/05

TD605500060296-5

DOJI0656BA

USD

75,396.00

09-May-05

15-Jul-05

NOAH FABRIC NEW YORK

UNITED STATES

IM440621/05

TD605500060303-5

DOJI0663NM

USD

50,490.60

09-May-05

11-Jul-05

REALTY TEXTILES CO., LTD.

HONG KONG

IM440382/05

TD605500060264-5

DOJI0623ME933

USD

288,848.95

10-May-05

20-Aug-05

GRAND HING KNITTING FACTORY LTD.

HONG KONG

IM441082/05

TD605500060305-5

DOJI0655LL

USD

42,307.25

11-May-05

18-Jun-05

JINGSU INTERNATIONAL TRADING CO.

HONG KONG

IM441083/05

TD605500060306-5

DOJI0666RR

USD,

21,753.60

11-May-05

05-Jun-05

JAY ONE TRADING CORP

KOREA REPUBLIC

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5814556070	HYUNJIN APPAREL CO., LTD.	Sight	12/29/2004	252,025.26 USD
1257 JEV34RJ2	REPUBLIC OF KOREA		05/03/2005	1.00 USD

5814556081	CHINA UNION (CASHMERE) INTL GROUP	Sight	01/03/2005	5,061,771.00 USD
1268JK4263	HONG KONG		07/27/2005	5,061,771.00 USD

5815554682	HEMPEL CHINA LIMITED	Sight	01/12/2005	201,896.24 USD
0033JK4265	PEOPLE’S REPUBLIC OF CHINA		05/03/2005	1.00 USD

5815554713	JINSE CO., LTD.	Sight	01/13/2005	42,555.18 USD
0064CHR0107	REPUBLIC OF KOREA		06/04/2005	124,405.68 USD

5815554714	SEOKJIN CO., LTD.	Sight	01/13/2005	16,572.00 USD
0065AKNY0103EU	REPUBLIC OF KOREA		05/28/2005	20,362.56 USD

5815554804	SEOKJIN CO., LTD.	Sight	02/02/2005	76,617.64 USD
0156AKNY0126	REPUBLIC OF KOREA		05/29/2005	238,078.63 USD

5815554873	KWIN HING KNITTING FACTORY LTD..	Sight	02/18/2005	135,862.26 USD
0225JK5093	HONG KONG		04/30/2005	31,040.20 USD

5815554883	TAI FUNG TEXTILES CO., LTD	Sight	02/21/2005	87,891.50 USD
0235AC00415	HONG KONG		05/12/2005	4,240.61 USD

5815554884	TAI FUNG TEXTILES CO., LTD	Sight	02/21/2005	81,729.50 USD
0236AC00416	HONG KONG		05/27/2005	5,007.32 USD

5815554895	OPIFICIO TESSILE	Sight	02/24/2005	24,735.00 USD
0247AC00419	ITALIAN REPUBLIC		05/05/2005	0.00 USD

5815554921	A.O. TEXTILE INC.	Sight	03/09/2005	35,500.00 USD
0273AL00481	UNITED STATES OF AMERICA		05/02/2005	0.00 USD

5815554928	HEMPEL CHINA LIMITED	Sight	03/09/2005	47,774.96 USD
0280JK5131	PEOPLE’S REPUBLIC OF CHINA		06/04/2005	33,792.24 USD

5815554930	HANSAE CO., LTD.	Sight	03/09/2005	70,030.46 USD
0282JEV25JE1	REPUBLIC OF KOREA		05/05/2005	111,134.96 USD


Report Date 05/12/2005 08:07:10 (EDT)		DAILY OUTSTANDING		1 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815554932	HANSAE CO., LTD.	Sight	03/09/2005	121,231.66 USD
0284JEV033AA	REPUBLIC OF KOREA		05/29/2005	293,648.81 USD

5815554936	DO DO FAHSION LTD.	Sight	03/11/2005	332,348.36 USD
0288DD012/05	HONG KONG		05/09/2005	822,237.60 USD

5815554938	PT CITRAABADI SEJATI.	Sight	03/11/2005	99,276.46 USD
0290JK5139	REPUBLIC OF INDONESIA		05/02/2005	67,910.62 USD

5815554943	UNIMIX LTD.	Sight	03/11/2005	93,286.64 USD
0295JK5112	HONG KONG		04/30/2005	156,029.88 USD

5815554946	CHINA TING GARMENT MFG(GROUP)LTD.,,	Sight	03/11/2005	717,094.82 USD
0298JK5103	HONG KONG		04/30/2005	230,802.22 USD

5815554950	HEMPEL CHINA LIMITED	Sight	03/11/2005	38,835.68 USD
0302JK5127	PEOPLE’S REPUBLIC OF CHINA		06/04/2005	38,835.68 USD

5815554952	JEANLY (HK) LTD.	Sight	03/11/2005	16,886.76 USD
0304JK5108	HONG KONG		05/30/2005	16,886.76 USD

5815554953	FORNTON KNITTING CO LTD..	Sight	03/11/2005	188,866.85 USD
0305JK5095	HONG KONG		05/04/2005	188,866.85 USD

5815554956	HANSAE CO., LTD.	Sight	03/11/2005	244,814.88 USD
0308JEV26JE1	REPUBLIC OF KOREA		05/22/2005	453,726.32 USD

5815554957	JIN YOUNG INDUSTRIAL CO., LTD..	Sight	03/11/2005	35,377.68 USD
0309SH0303	REPUBLIC OF KOREA		05/11/2005	35,377.68 USD

5815554960	AUTOMOBILE FASHIONS CO., LTD.	Sight	03/17/2005	79,524.22 USD
0312JK5113	HONG KONG		05/15/2005	79,524.22 USD

5815554961	LAI KO KNITTING FACTORY LIMITED	Sight	03/17/2005	45,668.46 USD
0313JK5116	HONG KONG		04/30/2005	45,668.46 USD

5815554962	ERDOS GROUP(HONG KONG) CO., LTD.	Sight	03/17/2005	222,353.38 USD
0314JK5118	HONG KONG		05/10/2005	222,353.38 USD


Report Date 05/12/2005 08:07:10 (EDT)		DAILY OUTSTANDING		2 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815554963	TAI KEI KNITTERS LTD.	Sight	03/17/2005	65,982.69 USD
0315JK5119	HONG KONG		04/30/2005	65,982.69 USD

5815554964	HENFIELD ENTERPRISES LIMITED	Sight	03/17/2005	90,758.40 USD
0316JK5129	HONG KONG		04/30/2005	90,758.40 USD

5815554965	HENFIELD ENTERPRISES LIMITED	Sight	03/17/2005	18,555.00 USD
0317JK5130	HONG KONG		04/30/2005	18,555.00 USD

5815554966	UNITEX FASHION (CHINA) LIMITED..	Sight	03/17/2005	32,416.40 USD
0318JK5146	HONG KONG		04/30/2005	32,416.40 USD

5815554967	FORNTON KNITTING CO LTD..	Sight	03/17/2005	86,376.88 USD
0319JK5071	HONG KONG		04/30/2005	86,376.88 USD

5815554968	UNITEX FASHION (CHINA) LIMITED .	Sight	03/17/2005	58,974.16 USD
0320JK5120	HONG KONG		04/30/2005	58,974.16 USD

5815554969	PT. UNGARAN SARI GARMENTS.	Sight	03/17/2005	31,784.21 USD
0321JK5144	REPUBLIC OF INDONESIA		05/03/2005	1,023.10 USD

5815554970	HIGH FASHION GARMENTS CO. LTD..	Sight	03/17/2005	66,913.00 USD
0322JK5134	HONG KONG		05/03/2005	53,676.25 USD

5815554971	FABRICA DE MALHAS UNIVERSAL LDA.	Sight	03/17/2005	124,624.96 USD
0323JK5106	MACAU		04/30/2005	124,624.96 USD

5815554972	MAINFIELD DEVELOPMENT CO., LTD..	Sight	03/17/2005	150,909.84 USD
0324JK5143	HONG KONG		04/30/2005	106,133.64 USD

5815554973	SLC CO., LTD.	Sight	03/17/2005	11,040.00 USD
0325AKNY0308	REPUBLIC OF KOREA		05/06/2005	658.00 USD

5815554974	SLC CO., LTD.	Sight	03/17/2005	34,987.00 USD
0326AKAK0224	REPUBLIC OF KOREA		05/06/2005	0.00 USD

5815554975	SLC CO., LTD.	Sight	03/17/2005	73,726.00 USD
0327AKNY0303	REPUBLIC OF KOREA		05/06/2005	0.00 USD


Report Date 05/12/2005 08:07:10 (EDT)		DAILY OUTSTANDING		3 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815554976	LANIFICIO MOESSMER SPA	Sight	03/18/2005	56,903.40 USD
0328AE00364	ITALIAN REPUBLIC		05/17/2005	56,903.40 USD

5815554977	LANIFICIO TEXCO S.P.A.	Sight	03/17/2005	434,875.00 USD
0329AE00351	ITALIAN REPUBLIC		05/28/2005	515,875.00 USD

5815554978	CUCCIRELLI/C. SPA	Sight	03/17/2005	122,947.50 USD
0330AE00371	ITALIAN REPUBLIC		05/31/2005	144,157.00 USD

5815554979	CUCCIRELLI/C.	Sight	03/17/2005	145,898.80 USD
0331AE00355	ITALIAN REPUBLIC		05/14/2005	145,898.80 USD

5815554980	NEILL JOHNSTONE LTD.,	Sight	03/17/2005	51,979.20 USD
0332AE00369	UNITED KINGDOM OF GREAT BRITAIN AND		05/05/2005	51,979.20 USD

5815554982	BONOTTO S.P.A	Sight	03/17/2005	67,599.00 USD
0334AE00361	ITALIAN REPUBLIC		05/23/2005	81,756.00 USD

5815554984	LANERIE PIERO TONELLA SRL	Sight	03/17/2005	100,040.00 USD
0336AE00349	ITALIAN REPUBLIC		05/17/2005	100,040.00 USD

5815554985	AMOR TESSUTO S.A.	Sight	03/17/2005	54,520.00 USD
0337AC00503	EASTERN REPUBLIC OF URUGUAY		06/06/2005	54,520.00 USD

5815554990	LANIFICIO TEXCO S.P.A.	Sight	03/17/2005	4,970.00 USD
0342AE00372	ITALIAN REPUBLIC		05/10/2005	0.00 USD

5815554993	ONETEX CORP.	Sight	03/17/2005	22,750.00 USD
034WA00216	REPUBLIC OF KOREA		05/01/2005	1,375.00 USD

5815554994	ONETEX CORP.	Sight	03/17/2005	47,060.00 USD
0346WA00218	REPUBLIC OF KOREA		04/29/2005	7,480.20 USD

5815554997	MITSUI BUSSAN TEXTILE CO., LTD..	Sight	03/23/2005	3,255.12 USD
0349AE00414	JAPAN		05/12/2005	0.00 USD

5815554998	LANIFICIO BARTOLINI SESTILIO SPA	Sight	03/23/2005	22,277.50 USD
0350AE00368	ITALIAN REPUBLIC		05/10/2005	22,277.50 USD


Report Date 05/12/2005 08:07:10 (EDT)		DAILY OUTSTANDING		4 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815554999	KEN TRADING.	Sight	03/23/2005	5,929.05 USD
0351AE00410	JAPAN		04/30/2005	0.00 USD

5815555000	MITSUI BUSSAN TEXTILE CO., LTD.	Sight	03/23/2005	11,400.48 USD
0352AE00389	JAPAN		05/15/2005	0.00 USD

5815555001	MALISYS S.R.L.	Sight	03/23/2005	198,801.80 USD
0353AE00375	ITALIAN REPUBLIC		06/10/2005	198,801.80 USD

5815555002	LANIFICIO BARTOLINI SESTILIO SPA	Sight	03/23/2005	23,820.00 USD
0354AE00367	ITALIAN REPUBLIC		05/25/2005	23,820.00 USD

5815555004	TEXTILE IMPORTS LLC	Sight	03/23/2005	31,457.50 USD
0356AC00446	UNITED STATES OF AMERICA		05/20/2005	31,457.50 USD

5815555007	KWIN HING KNITTING FACTORY LTD..	Sight	03/23/2005	5,460.00 USD
0359JK5117	HONG KONG		04/30/2005	5,460.00 USD

5815555009	PT. UNGARAN SARI GARMENTS.	Sight	03/23/2005	16,316.52 USD
0361JK5147	REPUBLIC OF INDONESIA		05/17/2005	16,316.52 USD

5815555010	HIGH FASHION GARMENTS CO. LTD..	Sight	03/23/2005	40,256.32 USD
0362JK5133	HONG KONG		05/17/2005	40,256.32 USD

5815555014	LIENS GROUP (ASIA) CO., LTD..	Sight	03/23/2005	295,157.20 USD
0366JK5155	THAILAND		05/11/2005	409,109.98 USD

5815555015	GREAT HARVEST LTD.	Sight	03/23/2005	101,039.52 USD
0368GH013/05	HONG KONG		05/04/2005	146,377.33 USD

5815555017	HT TRADING LIMITED	Sight	03/23/2005	265,031.75 USD
0370HTK019/05	MACAU		05/08/2005		265,031.75 USD

5815555021	HOJEON LIMITED	Sight	03/23/2005	453,518.62 USD
0374AK05BR0001	REPUBLIC OF KOREA		05/18/2005	62,470.39 USD

5815555022	HONGS INTERNATIONAL LIMITED	Sight	03/23/2005	62,910.46 USD
0375PAUL0317	REPUBLIC OF KOREA		05/06/2005		2,534.65 USD


Report Date 05/12/2005 08:07:10 (EDT)		DAILY OUTSTANDING		5 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815555023	POONGIN TRADING CO., LTD..	Sight	03/23/2005	187,187.20 USD
0376AKAK0321	REPUBLIC OF KOREA		05/06/2005	187,187.20 USD

5815555024	SAMKWANG APPAREL CORP..	Sight	03/23/2005	177,962.58 USD
0377AKAK0321A	REPUBLIC OF KOREA		05/06/2005	177,962.58 USD

5815555025	SAMKWANG APPAREL CORP. .	Sight	03/23/2005	70,963.78 USD
0378AKAK0321B	REPUBLIC OF KOREA		05/06/2005	70,963.78 USD

5815555026	EUHA INTERNATIONAL LTD.	Sight	03/23/2005	22,952.40 USD
0379AKAK0321C	REPUBLIC OF KOREA		05/06/2005	22,952.40 USD

5815555027	PAN PACIFIC CO., LTD.	Sight	03/23/2005	36,970.00 USD
0380JEV38LY1	REPUBLIC OF KOREA		05/09/2005	36,970.00 USD

5815555028	TREMO LTD.	Sight	03/23/2005	32,500.00 USD
0381WA00221	REPUBLIC OF KOREA		05/05/2005	510.00 USD

5815555030	RUNNING TEXTILE HOLDINGS LTD.	Sight	03/25/2005	18,634.50 USD
0382AL00491	TAIWAN, PROVINCE OF ROC		04/30/2005	18,634.50 USD

5815555031	K.M. TEXTILE CORPORATION.	Sight	03/25/2005	29,351.40 USD
0383KU00330	REPUBLIC OF KOREA		05/10/2005	0.00 USD

5815555032	EXSA EXPORT SANAYI MAMULLERI SATIS	Sight	03/25/2005	11,020.00 USD
0384AC00507	TURKEY		06/09/2005	11,020.00 USD

5815555033	PARAMOUNT TEXTEIS INDUSTRIA E	Sight	03/25/2005	175,224.00 USD
0385AC00423	FEDERATIVE REPUBLIC OF BRAZIL		05/25/2005	9,275.70 USD

5815555034	EFFETEX SRL.	Sight	03/25/2005	19,950.00 USD
0386AC00487	ITALIAN REPUBLIC		05/11/2005	0.00 USD

5815555035	TRISTATE TRADING LIMITED	Sight	03/29/2005	1,205,108.65 USD
0387FNJ1MA25	MACAU		05/10/2005	992,675.16 USD

5815555037	FLORA FASHIONS FTY	Sight	03/29/2005	23,781.65 USD
0389FL007/05	HONG KONG		05/07/2005	10,359.65 USD


Report Date 05/12/2005 08:07:10 (EDT)		DAILY OUTSTANDING		6 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815555042	SAVERIO INTERNATIONAL LIMITED.	Sight	03/29/2005	100,053.86 USD
0394JK5162	HONG KONG		05/25/2005	100,053.86 USD

5815555043	HEMPEL CHINA LIMITED	Sight	03/29/2005	401,841.89 USD
0395JK5145	PEOPLE’S REPUBLIC OF CHINA		05/07/2005	401,841.89 USD

5815555044	DONG HAN INTERNATIONAL CO., LTD.	Sight	03/29/2005	707,465.82 USD
0396AK05BR003	REPUBLIC OF KOREA		05/08/2005	297,790.75 USD

5815555045	DONG HAN INTERNATIONAL CO., LTD.	Sight	03/30/2005	33,152.89 USD
0397AK05BR005	REPUBLIC OF KOREA		05/08/2005	21,097.31 USD

5815555046	EUHA INTERNATIONAL LTD.	Sight	03/30/2005	58,277.12 USD
0398AKPRE-0321R	REPUBLIC OF KOREA		06/20/2005	5,132.80 USD

5815555047	HT TRADING LIMITED	Sight	03/30/2005	25,267.00 USD
0399HTR004/05	MACAU		05/01/2005	25,267.00 USD

5815555048	FLORA FASHIONS FTY	Sight	03/30/2005	28,054.91 USD
0400FL-006/05	HONG KONG		05/07/2005	12,220.91 USD

5815555049	MERIM CORP.	Sight	03/30/2005	89,469.47 USD
0401JK5166	REPUBLIC OF KOREA		06/29/2005	89,469.47 USD

5815555050	LANIFICIO FALIERO SARTI/FIGLI SPA	Sight	04/04/2005	170,287.15 USD
0402AE00409	ITALIAN REPUBLIC		05/25/2005	276,734.95 USD

5815555051	LANIFICIO FALIERO SARTI/FIGLI SPA	Sight	03/31/2005	11,655.00 USD
0403AE00376	ITALIAN REPUBLIC		05/15/2005	11,655.00 USD

5815555052	LAN LUIGI BOGGIO CASERO SRL	Sight	03/31/2005	12,740.00 USD
0404AE00385	ITALIAN REPUBLIC		05/10/2005	12,740.00 USD

5815555053	KIMTEKS TEKSTIL INSAAT SAN. VE TIC.	Sight	03/31/2005	246,983.50 USD
0405AC00512	TURKEY		05/17/2005	231,914.52 USD

5815555054	TAECHANG ENTERPRISE CO., LTD.	Sight	03/31/2005	139,425.00 USD
0406AC00523	REPUBLIC OF KOREA		06/14/2005	139,425.00 USD


Report Date 05/12/2005 08:07:10 (EDT)		DAILY OUTSTANDING		7 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815555058	PT CITRAABADI SEJATI.	Sight	04/04/2005	114,444.06 USD
0410JK5164	REPUBLIC OF INDONESIA		05/31/2005	94,039.07 USD

5815555059	SHANGHAI SILK GROUP CO., LTD..	Sight	04/04/2005	18,810.60 USD
0411JK5168	PEOPLE’S REPUBLIC OF CHINA		04/30/2005	18,810.60 USD

5815555060	YOOPOONG CORPORATION	Sight	04/04/2005	153,408.00 USD
0412JK5150	REPUBLIC OF KOREA		06/13/2005	153,408.00 USD

5815555061	WILFORD KNITWEAR FACTORY LIMITED.	Sight	04/04/2005	45,350.00 USD
0413JK5161	HONG KONG		05/15/2005	48,650.00 USD

5815555062	WILFORD KNITWEAR FACTORY LIMITED.	Sight	04/04/2005	4,770.00 USD
0414JK5167	HONG KONG		05/15/2005	4,770.00 USD

5815555063	HIGH FASHION GARMENTS CO. LTD..	Sight	04/04/2005	119,440.00 USD
0415JK5151	HONG KONG		05/20/2005	119,440.00 USD

5815555064	DONG HAN INTERNATIONAL CO., LTD.	Sight	04/04/2005	50,547.00 USD
0416AK05BR006	REPUBLIC OF KOREA		05/15/2005	50,547.00 USD

5815555065	NEW WORLD SOURCING GROUP, INC.	Sight	04/11/2005	36,465.00 USD
0417KU00334	UNITED STATES OF AMERICA		05/14/2005	36,465.00 USD

5815555067	TRISTATE TRADING LIMITED	Sight	04/08/2005	262,121.89 USD
0419FNJ1MA26	MACAU		05/31/2005	263,219.17 USD

5815555068	TOMWELL COMPANY.	Sight	04/08/2005	255,078.50 USD
0420TM021/005	HONG KONG		05/13/2005	255,078.50 USD

5815555069	DO DO FAHSION LTD.	Sight	04/08/2005	358,998.85 USD
0421DD016/05	HONG KONG		05/20/2005	358,998.85 USD

5815555070	HT TRADING LIMITED	Sight	04/08/2005	14,780.00 USD
0422HTK022/05	MACAU		05/22/2005	14,780.00 USD


Report Date 05/12/2005 08:07:10 (EDT)		DAILY OUTSTANDING		8 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815555071	KEYABLE INTERNATIONAL LTD.	Sight	04/08/2005	61,406.80 USD
0423JK5109	HONG KONG		05/30/2005	0.00 USD

5315555072	DO DO FAHSION LTD.	Sight	04/08/2005	47,996.62 USD
0424JK5177	HONG KONG		06/14/2005	47,996.62 USD

5815555075	DO DO FAHSION LTD.	Sight	04/08/2005	305,295.90 USD
0426DD015/05	HONG KONG		05/20/2005	305,295.90 USD

5815555077	WONDERFUL INTL GROUP (HK) LTD.	Sight	04/08/2005	291,981.51 USD
0428WF009/05	HONG KONG		05/15/2005	367,964.89 USD

5815555078	HANSAE CO., LTD.	Sight	04/08/2005	193,624.58 USD
0429JEV01BR24	REPUBLIC OF KOREA		06/09/2005	193,624.58 USD

5815555079	MITSUI BUSSAN TEXTILE CO., LTD..	Sight	04/11/2005	64,053.00 USD
0430AC00527	JAPAN		05/25/2005	41,877.07 USD

5815555080	TAI FUNG TEXTILES CO., LTD	Sight	04/11/2005	2,745.00 USD
0431AC00546	HONG KONG		06/15/2005	19,718.25 USD

5815555081	TAI FUNG TEXTILES CO., LTD	Sight	04/11/2005	28,565.00 USD
0432AC00499	HONG KONG		05/02/2005	776.33 USD

5815555082	BRADLEE INTERNATIONAL LTD.	Sight	04/11/2005	28,810.00 USD
0433AC00531	UNITED STATES OF AMERICA		05/31/2005	28,810.00 USD

5815555083	E. PECCIAND C SPA	Sight	04/11/2005	51,012.50 USD
0434AE00381	ITALIAN REPUBLIC		05/10/2005	15,675.00 USD

5815555084	LAN LUIGI BOGGIO CASERO SRL	Sight	04/11/2005	34,440.00 USD
0435AE00373	ITALIAN REPUBLIC		05/27/2005	34,440.00 USD

5815555086	FLORA FASHIONS FTY	Sight	04/15/2005	33,909.33 USD
0436FL-008/05	HONG KONG		05/25/2005	33,909.33 USD

5815555087	WONDERFUL INTL GROUP (HK) LTD.	Sight	04/15/2005	104,709.51 USD
0437FW007/05	HONG KONG		05/10/2005	79,028.63 USD



Report Date 05/12/2005 08:07:10 (EDT)	DAILY OUTSTANDING	9 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815555088	KAYEE FASHION FTY LTD.	Sight	04/15/2005	6,713.97 USD
0438KYL0050	HONG KONG		05/15/2005	6,713.97 USD

5815555089	TOP SUCCESS INDUSTRIAL LIMITED.	Sight	04/15/2005	90,047.00 USD
0439JK5104	HONG KONG		06/14/2005	34,264.55 USD

5815555090	CHINAMINE TRADING LTD.	Sight	04/15/2005	114,408.03 USD
0440JK5169	HONG KONG		05/13/2005	114,408.03 USD

5815555091	TOP SUCCESS INDUSTRIAL LIMITED.	Sight	04/15/2005	47,916.60 USD
0441JK5182	HONG KONG		05/15/2005	403.20 USD

5815555092	TOP SUCCESS INDUSTRIAL LIMITED.	Sight	04/15/2005	19,951.20 USD
0442JK5183	HONG KONG		05/05/2005	19,951.20 USD

5815555093	PLATINUM 2000 LIMITED	Sight	04/15/2005	28,552.84 USD
0443JK5186	HONG KONG		05/03/2005	28,552.84 USD

5815555094	CHINAMINE TRADING LTD.	Sight	04/15/2005	40,446.00 USD
0444JK5187	HONG KONG		05/03/2005	40,446.00 USD

5815555096	HIGH FASHION GARMENTS CO. LTD..	Sight	04/15/2005	887,141.00 USD
0445JK5123	HONG KONG		06/02/2005	887,141.00 USD

5815555097	FABRICA DE MALHAS UNIVERSAL LDA.	Sight	04/15/2005	140,717.66 USD
0446JK5178	MACAU		05/30/2005	140,717.66 USD

5815555098	HT TRADING LIMITED	Sight	04/15/2005	59,194.00 USD
0447HTK026/05	MACAU		05/22/2005	59,194.00 USD

5815555099	HT TRADING LIMITED	Sight	04/15/2005	215,756.80 USD
0448HTK025/05	MACAU		05/15/2005	215,756.80 USD

5815555100	HT TRADING LIMITED	Sight	04/15/2005	45,600.00 USD
0449HTK024/05	MACAU		05/15/2005	45,600.00 USD

5815555101	HT TRADING LIMITED	Sight	04/20/2005	159,447.50 USD
0450HTK020/05	MACAU		06/05/2005	159,447.50 USD



Report Date 05/12/2005 08:07:10 (EDT)	DAILY OUTSTANDING	10 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815555102	JINSE CO., LTD.	Sight	04/21/2005	477,234.12 USD
0451CHR0310	REPUBLIC OF KOREA		06/14/2005	477,234.12 USD

5815555103	HYUNJIN APPAREL CO., LTD.	Sight	04/20/2005	211,937.24 USD
0452JEV01BR26	REPUBLIC OF KOREA		05/22/2005	211,937.24 USD

5815555104	HYUNJIN APPAREL CO., LTD.	Sight	04/20/2005	335,741.71 USD
0453JEV63HR3	REPUBLIC OF KOREA		07/21/2005	606,979.88 USD

5815555105	HANSAE CO., LTD.	Sight	04/20/2005	107,789.80 USD
0454JEV059AA	REPUBLIC OF KOREA		06/28/2005	139,731.80 USD

5815555106	EUHA INTERNATIONAL LTD.	Sight	04/20/2005	86,043.60 USD
0455PAUL0408LC	REPUBLIC OF KOREA		08/05/2005	86,043.60 USD

5815555107	JINSE CO., LTD.	Sight	04/20/2005	182,343.41 USD
0456CHR0404EU	REPUBLIC OF KOREA		06/04/2005	195,959.41 USD

5815555108	LUNG KAE GARMENT COMPANY	Sight	04/20/2005	213,398.62 USD
0457JK5184	HONG KONG		05/16/2005	213,398.62 USD

5815555109	HENFIELD ENTERPRISES LIMITED	Sight	04/20/2005	39,300.00 USD
0458JK5173	HONG KONG		05/30/2005	39,300.00 USD

5815555110	YOOPOONG CORPORATION	Sight	04/20/2005	42,750.00 USD
0459JK5149	REPUBLIC OF KOREA		06/15/2005	42,750.00 USD

5815555111	LIENS GROUP (ASIA) CO., LTD.	Sight	04/20/2005	29,450.00 USD
0460JK5154	THAILAND		05/31/2005	29,450.00 USD

5815555112	DATAS IND. LTD.	Sight	04/20/2005	29,920.00 USD
0461JK5192	HONG KONG		06/01/2005	29,920.00 USD

5815555113	WONDERFUL INTL GROUP (HK) LTD.	Sight	04/20/2005	290,202.56 USD
0462FW008/05	HONG KONG		05/26/2005	290,202.56 USD

5815555114	DO DO FASHION LTD.	Sight	04/20/2005	564,852.23 USD
0463DD017/05	HONG KONG		06/13/2005	564,852.23 USD



Report Date 05/12/2005 08:07:10 (EDT)	DAILY OUTSTANDING	11 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815555115	NUANCE INDUSTRIES INC.	Sight	04/21/2005	68,780.00 USD
0464KU00324	UNITED STATES OF AMERICA		05/20/2005	68,780.00 USD

5815555116	TREMO LTD.	Sight	04/21/2005	12,750.00 USD
0465WA00234	REPUBLIC OF KOREA		06/04/2005	12,750.00 USD

5815555117	LANIFICIO MARIO BELLUCCI SPA	Sight	04/21/2005	24,220.00 USD
0466AE00383	ITALIAN REPUBLIC		05/30/2005	24,220.00 USD

5815555118	EFFEPIERRE SPA	Sight	04/21/2005	61,222.20 USD
0467AE00365	ITALIAN REPUBLIC		06/09/2005	61,222.20 USD

5815555119	LANIFICIO LUIGI BOTTO S.P.A.	Sight	04/27/2005	239,401.00 USD
0468AE00378	ITALIAN REPUBLIC		07/05/2005	239,401.00 USD

5815555121	HT TRADING LIMITED	Sight	04/27/2005	25,670.00 USD
0470HTK028/05	MACAU		06/05/2005	25,670.00 USD

5815555122	TRISTATE TRADING LIMITED	Sight	04/27/2005	270,468.85 USD
0471FNJ1VT27R01	MACAU		06/17/2005	270,468.85 USD

5815555123	TRISTATE TRADING LIMITED	Sight	04/27/2005	723,113.11 USD
0472FNJ1MA27R01	MACAU		06/21/2005	782,535.11 USD

5815555124	DO DO FASHION LTD.	Sight	04/27/2005	296,363.47 USD
0473DD018/05	HONG KONG		06/20/2005	296,363.47 USD

5815555125	GREAT HARVEST LTD.	Sight	04/27/2005	169,551.86 USD
0474GH014/05	HONG KONG		06/22/2005	175,991.86 USD

5815555126	LAI’S KNITWEAR MFG. LTD..	Sight	04/27/2005	21,450.00 USD
0475JK5191	HONG KONG		06/08/2005	21,450.00 USD

5815555127	BUSINESS FAITH INT’L LTD.	Sight	04/27/2005	30,957.00 USD
0476JK5174	HONG KONG		06/07/2005	30,957.00 USD

5815555128	LIENS GROUP (ASIA) CO., LTD.	Sight	04/27/2005	30,629.50 USD
0477JK5179	THAILAND		07/05/2005	30,629.50 USD



Report Date 05/12/2005 08:07:10 (EDT)	DAILY OUTSTANDING	12 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815555129	KONG SHING KNITTING FACTORY.	Sight	04/27/2005	84,394.55 USD
0478JK5181	HONG KONG		06/07/2005	84,394.55 USD

5815555130	PAK TAK KNITTING/GARMENT FTY. LTD.	Sight	04/27/2005	21,237.50 USD
0479JK5193	HONG KONG		05/15/2005	21,237.50 USD

5815555131	CHINAMINE TRADING LTD.	Sight	04/27/2005	131,817.90 USD
0480JK5188	HONG KONG		05/15/2005	131,817.90 USD

5815555132	FORTUNE MINT LIMITED,	Sight	04/27/2005	47,884.64 USD
0481JK5107	HONG KONG		06/14/2005	47,884.64 USD

5815555133	FORTUNE MINT LIMITED,	Sight	04/27/2005	36,714.36 USD
0482JK5194	HONG KONG		06/14/2005	36,714.36 USD

5815555134	TOMWELL COMPANY.	Sight	04/27/2005	986,891.64 USD
0483JK5195	HONG KONG		06/14/2005	986,891.64 USD

5815555135	WONDERFUL INTL GROUP (HK) LTD.	Sight	04/27/2005	276,036.10 USD
0484JK5197	HONG KONG		06/15/2005	276,036.10 USD

5815555136	DONG HAN INTERNATIONAL CO., LTD.	Sight	04/27/2005	104,026.88 USD
0485AK05BR007	REPUBLIC OF KOREA		06/12/2005	104,026.88 USD

5815555137	HANSAE CO., LTD.	Sight	04/27/2005	12,321.12 USD
0486JEV062AA	REPUBLIC OF KOREA		06/09/2005	228,677.49 USD

5815555138	PAN PACIFIC CO., LTD.	Sight	04/27/2005	406,309.98 USD
0487JEV68SH1	REPUBLIC OF KOREA		06/27/2005	406,309.98 USD

5815555139	PAN PACIFIC CO., LTD.	Sight	04/27/2005	180,559.00 USD
0488JEV73SH1	REPUBLIC OF KOREA		06/10/2005	180,559.00 USD

5815555140	UNITEX FASHION (CHINA) LIMITED.	Sight	05/05/2005	109,693.44 USD
0489JK5176	HONG KONG		06/14/2005	109,693.44 USD

5815555141	WONDERFUL INTL GROUP (HK) LTD.	Sight	05/05/2005	38,918.61 USD
0490JK5210	HONG KONG		06/06/2005	38,918.61 USD



Report Date 05/12/2005 08:07:10 (EDT)	DAILY OUTSTANDING	13 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815555142	KAYEE FASHION FTY LTD.	Sight	05/05/2005	29,352.72 USD
0491JK5211	HONG KONG		06/01/2005	29,352.72 USD

5815555143	HIGH FASHION GARMENTS CO. LTD.	Sight	05/05/2005	60,049.35 USD
0492JK5208	HONG KONG		06/04/2005	60,049.35 USD

5815555144	SLITHER LTD.	Sight	05/05/2005	17,356.00 USD
0493JK5172	HONG KONG		06/14/2005	17,356.00 USD

5815555145	KWIN HING KNITTING FACTORY LTD.	Sight	05/05/2005	100,175.01 USD
0494JK5189	HONG KONG		06/14/2005	100,175.01 USD

5815555146	LAI KO KNITTING FACTORY LIMITED	Sight	05/05/2005	92,662.31 USD
0495JK5190	HONG KONG		06/14/2005	92,662.31 USD

5815555147	PAN PACIFIC CO., LTD.	Sight	05/05/2005	28,216.00 USD
0496JEV062AB	REPUBLIC OF KOREA		06/20/2005	28,216.00 USD

5815555148	MITSUI BUSSAN TEXTILE CO., LTD.	Sight	05/05/2005	9,475.40 USD
0497AC00549	JAPAN		05/25/2005	9,475.40 USD

5815555149	TAI FUNG TEXTILES CO., LTD	Sight	05/06/2005	69,455.00 USD
0497AC00550	HONG KONG		06/05/2005	69,455.00 USD

5815555150	AKSU IPLIK DOKUMAVE BOYAAPRE TURKEY	Sight	05/06/2005	32,214.00 USD
0498AC00578			05/25/2005	32,214.00 USD

5815555151	TAI FUNG TEXTILES CO., LTD HONG KONG	Sight	05/06/2005	41,403.75 USD
0499AC00535			06/24/2005	41,403.75 USD

5815555152	LANIFICIO NUOVO RIVERA S.P.A.	Sight	05/06/2005	60,180.00 USD
0501AC00544	ITALIAN REPUBLIC		06/16/2005	60,180.00 USD

5815555153	KEN TRADING.	Sight	05/06/2005	178,717.50 USD
0502AC00530	JAPAN		06/21/2005	178,717.50 USD

5815555154	EXSA EXPORT SANAYI MAMULLERI SATIS	Sight	05/06/2005	228,952.50 USD
0503AC00510	TURKEY		06/09/2005	228,952.50 USD



Report Date 05/12/2005 08:07:10 (EDT)	DAILY OUTSTANDING	14 of 17

Outstanding Import Letters of Credit by Citibank LC Reference


Customer Base Number	949148	Branch Code	712
Customer Name	KASPER ASL LTD	Branch Name	HONG KONG CITIBANK


Citibank LC Reference	Exporter Name	Tenor Type	Issuance Date	Original Amount
Importer LC Reference	Exporter Country	Tenor Terms	Expiry Date	Outstanding Amount
5815555155	MALIBU TEXTILES, INC.	Sight	05/06/2005	1,911.00 USD
0504AC00584	UNITED STATES OF AMERICA		05/25/2005	1,911.00 USD

5815555156	CANEPA TESSITURA SERICA SPA	Sight	05/06/2005	16,647.75 USD
0505VE00238	ITALIAN REPUBLIC		05/30/2005	16,647.75 USD

5815555157	FORTUNE MINT LIMITED,	Sight	05/12/2005	48,016.10 USD
0506JK5107	HONG KONG		06/14/2005	48,016.10 USD

5815555158	KA YEE FASHION FTY LTD.	Sight	05/12/2005	81,214.88 USD
0507JK5233	HONG KONG		06/30/2005	81,214.88 USD

5815555159	TRISTATE TRADING LIMITED	Sight	05/12/2005	52,707.11 USD
0508FNJ1VT26	MACAU		05/30/2005	52,707.11 USD

5815555160	VADAT FASHION FACTORY LIMITED	Sight	05/12/2005	59,580.00 USD
0509JK5214	HONG KONG		06/01/2005	59,580.00 USD

5815555161	YOOPOONG CORPORATION	Sight	05/12/2005	16,800.00 USD
0510JK5212	REPUBLIC OF KOREA		06/02/2005	16,800.00 USD

5815555162	YOOPOONG CORPORATION	Sight	05/12/2005	109,460.00 USD
0511JK5213	REPUBLIC OF KOREA		06/17/2005	109,460.00 USD

5815555163	WONDERFUL INTL GROUP (HK) LTD.	Sight	05/12/2005	116,939.40 USD
0512JK5228	HONG KONG		06/14/2005	116,939.40 USD

5815555164	KA YEE FASHION FTY LTD.	Sight	05/12/2005	12,111.81 USD
0513JK5246	HONG KONG		06/08/2005	12,111.81 USD

5815555165	DONG HAN INTERNATIONAL CO., LTD.	Sight	05/12/2005	193,841.90 USD
0514AK05BR008	REPUBLIC OF KOREA		07/17/2005	193,841.90 USD

5815555166	HT TRADING LIMITED	Sight	05/12/2005	231,847.11 USD
0515HTK030/05	MACAU		06/12/2005	231,847.11 USD



Report Date 05/12/2005 08:07:10 (EDT)	DAILY OUTSTANDING	15 of 17

Schedule 7.1(b)

Subsidiaries and Capitalization


	State/Country
Name of Corporation	of Incorporation	Type of Shares	Shares Authorized	Shares Issued and Outstanding
Apparel Testing Services, Inc.	New Jersey	Common	1,000	100
Asia Expert Limited	Hong Kong	HK$	500,000	100
Barney’s, Inc.	New York	Common	15,000	8,560
		Preferred	400,000	N/A
		Prior Preferred	50,000	N/A
Barneys America (Chicago) Lease Corp.	Delaware	Common	1,000	100
Barneys America, Inc.	Delaware	Common	1,000	1,000
Barneys Asia Co LLC	Delaware	Membership Interest**	N/A	N/A
Barneys New York, Inc.	Delaware	Common	1,000	1,000
Barneys (CA) Lease Corp.	Delaware	Common	1,000	100
Barneys (NY) Lease Corp.	Delaware	Common	1,000	100
Basco All-American Sportswear Corp.	New York	Common	200	100
BNY Licensing Corp.	Delaware	Common	1,000	200
Exportex de Mexico, S.A. de C.V.	Mexico	Common	1,000	1,000
Greater Durango, S. de R.L. de C.V.	Mexico	Common	3,000	3,000
Import Technology of Texas, Inc.	Texas	Common	500,000	1,000
JAG Management Services, Inc.	Delaware	Common	200	60
Jones Apparel Group Canada, LP (Limited Partnership)	Canada			.1% is owned by Jones Canada Inc., as general partner; and 476 partnership units are owned by Jones Apparel Group Canada ULC, as limited partner
Jones Apparel Group Canada ULC (Unlimited Liability Company)	Canada	Common	100,000,000	171,500
Jones Apparel Group Holdings, Inc.	Delaware	Common	1,000	1,000
Jones Apparel Group, Inc.	Pennsylvania	Common	201,000,000	122,077,942*
Jones Apparel Group USA, Inc.	Pennsylvania	Common	1,000	1,000
Jones Apparel of Texas, Ltd. (Limited Partnership)	Texas			.5% is owned by Import Technology of Texas, Inc. and 99.5% is owned by Sun Apparel, Inc.
Jones Canada Inc.	Canada	Common	Unlimited	100
Jones Factor Company	Delaware	Common	1,000	1,000
Jones Holding Inc. (formerly known as Kasper Holdings, Inc.)	Delaware	Common	1,000	100
Jones International Limited	Hong Kong	Common	100	100
Jones Investment Co. Inc.	Delaware	Common	200	100
Jones Management Service Company	Delaware	Common	1,000	1,000
Jones Retail Corporation	New Jersey	Common	1,000	100
Kasper, Ltd.	Delaware	Common	1,000	100
Kasper Europe, Ltd.	Delaware	Common	1,500	100
Lion Licensing, Ltd	Delaware	Common	1,000	100
Maquilas Pami, S.A. de C.V.	Mexico	Common	100	100
Manufacturera Sun Apparel, S. de R.L. de C.V.	Mexico	Common	3,000	3,000
Maxwell Footwear of California, Inc.	Delaware	Common	1,000	100
McNaughton Apparel Group Inc.(formerly known as Norton McNaughton of Squire, Inc.)	New York	Common	15,000	10,000
		Preferred A	200,000	200,000
Nine West Accessories (HK) Limited	Hong Kong	Ordinary	10,000	2
Nine West Canada Corporation (in liquidation)	Canada	Common	Unlimited	1
Nine West Development Corporation	Delaware	Common	3,000	1,000
Nine West Footwear Corporation	Delaware	Common	3,000	1,000
Nine West Group Italy S.r.l. (in liquidation)	Italy	Ordinary	20,000,000	20,000
Nine West Melbourne Pty Ltd	Australia	Ordinary	100,000	100
N.M. Squire Limited	Kenya	Shillings	20 Shillings	2
Sun Apparel, Inc.	Delaware	Common	200	200
Victoria + Co International Ltd.	Delaware	Common	1,000	1,000
Victoria + Co Ltd.	Rhode Island	Common	50,000	3,450


*		This outstanding amount is as of 3/18/05.

**		BNY Licensing Corp. owns 70% interest

JONES APPAREL GROUP, INC.
SCHEDULE OF INTERCOMPANY DEBT
AS OF APRIL 30, 2005


Jones Apparel Group USA, Inc.
Due to Jones Canada	$	5,914,142
Due to Lion Licensing, LTD		28,096
Due to Nine West Footwear		1,078,354,225
Due to Jones Apparel of Texas		241,669,644
Due to RL Management, Inc.		1,374,003
Due to Jones Investment Company		103,714,153
Due to Apparel Testing Services		1,859,123
Due to Jones Factor Company		1,887
Due to Victoria		6,836,440

			1,439,751,713

Nine West Footwear
Due to Jones Apparel Group, Inc.	$	1,535,654
Due to Jones Canada		4,305
Due to Nine West Retail		791,336,221
Due to Jones Management Service Company		25,061,097
Due to Jones Investment Company		1,096,350
Due to Jones Apparel Group Holdings		2,063,446
Due to Nine West Development		163,772,395

			984,869,468

Jones Apparel of Texas
Due to Jones Apparel Group, Inc.	$	15,208,537
Due to Jones Apparel Group USA		73,999,663
Due to Jones Canada		136,247
Due to McNaughton Apparel		2,367,231
Due to Kasper		8,834
Due to Jones Management Service Company		17,964,343
Due to Jones Investment Company		8,948,590
Due to Apparel Testing Services		105,923
Due to Jones International Limited		5,858,438
Due to Nine West Retail		13,475,857
Due to Nine West Footwear		888,453
Due to Nine West Development		97,871,120

			236,833,236

Barneys
Due to Jones Apparel Group USA			102,090,463


Jones Retail Corp.
Due to Jones Apparel Group USA	$	829,643,103
Due to Jones Apparel Group, Inc.		2,462,298
Due to Kasper Europe		104,822
Due to Kasper		93,796,694
Due to Lion Licensing, LTD		76,916
Due to Nine West Footwear		245,785
Due to Nine West Development		65,604,335
Due to Jones Management Service Company		8,415,261
Due to Jones Investment Company		96,005,407
Due to Jones Factor Company		2,941

			1,096,357,562

Jones Apparel Group Canada Inc.
Due to Jones Management Service Company	$	3,495
Due to Jones Holding		203,779,179
Due to McNaughton Apparel		26,636
Due to Jones Retail Corporation		3,402
Due to Jones International Limited		2,535,007
Due to Jones Apparel Group, Inc.		4,393,427

			210,741,146

Victoria + Co
Due to Kasper	$	2,000
Due to Jones Investment Company		18,777,675
Due to Jones Apparel Group, Inc.		1,097,273
Due to Jones Apparel of Texas		145,225
Due to Jones Management Service Company		35,026,009
Due to Nine West Retail		1,988,992
Due to Nine West Development		3,887,989
Due to Nine West Footwear		6,969,768

			67,894,931

McNaughton Apparel Group
Due to Nine West Retail	$	6,487,830
Due to Jones Management Service Company		14,148,927
Due to Jones Apparel Group USA		110,388,211
Due to RL Management, Inc		2,083
Due to Victoria		2,047,584
Due to Nine West Footwear		377,220
Due to Apparel Testing Services		253,682

			133,705,537
Jones Investment Company Inc.
Due to Kasper	$	37,710,115
Due to Lion Licensing, LTD		4,467,658
Due to Nine West Retail		41,970,199
Due to McNaughton Apparel		154,558,047
Due to Jones Canada		3,076
Due to Apparel Testing Services		130,000
Due to Jones Apparel Group Holdings		2,913,441

			241,752,536


Jones Apparel Group Holdings, Inc.
Due to Jones Apparel Group USA	$	762,759,632
Due to Jones Apparel Group, Inc.		119,529
Due to Nine West Retail		23,667,940
Due to Jones Factor Company		8
Due to Nine West Melbourne Party		4,234,446
Due to Nine West Development		585,345

			791,366,900

Jones Management Service Company
Due to Jones Apparel Group USA	$	55,315,697
Due to RL Management, Inc.		423,377
Due to Nine West Development		23,147,680
Due to Jones Investment Company		32,367,604
Due to Jones Apparel Group Holdings		283,913
Due to Jones International Limited		698,252

			112,236,523

Nine West Development Corp.
Due to Jones Investment Company	$	17,358,152
Due to Nine West Footwear		17,429,336
Due to McNaughton Apparel		92,158,944
Due to Jones Apparel Group, USA		10,136,965

			137,083,397

Nine West International — Canada
Due to Jones Apparel Group USA	$	12,425
Due to Jones Retail Corporation		148,189

			160,614

Nine West International — Hong Kong
Due to Jones Apparel Group USA	$	495
Due to Jones Retail Corporation		36,326

			36,821

Nine West International — Italy
Due to Jones Retail Corporation			298,387

Jones International, Ltd.
Due to Jones Apparel Group USA	$	8,990,826
Due to Kasper		2,416,925

			11,407,751

Jones Factor Company
Due to Jones Management Service Company	$	9,083
Due to Nine West Development		10,992
			20,075

Jones Apparel Group, Inc.
Due to Jones Apparel Group, USA	$	361,359,789
Due to McNaughton Apparel		13,357,267
Due to Jones Apparel of Texas		15,663
Due to Jones Management Service Company		234,565

			374,967,284


WACHOVIA BANK, NATIONAL ASSOCIATION, as Administrative Agent, Issuing Lender and Lender
By:	/s/ Susan T. Gallagher
	Name:	Susan T. Gallagher
	Title:	Vice President

JPMORGAN CHASE BANK, N.A., as Issuing Lender and Lender
By:	/s/ James A. Knight
	Name:	James A. Knight
	Title:	Vice President

CITIBANK, N.A., as Issuing Lender and Lender
By:	/s/ John B. McQuiston
	Name:	John B. McQuiston
	Title:	Vice President

BANK OF AMERICA, N.A., as Issuing Lender and Lender
By:	/s/ Douglas J. Bolt
	Name:	Douglas J. Bolt
	Title:	Vice President

BARCLAYS BANK PLC, as Lender
By:	/s/ Nicholas Bell
	Name:	Nicholas Bell
	Title:	Director

SUNTRUST BANK, as Lender
By:	/s/ Robert W. Maddox
	Name:	Robert W. Maddox
	Title:	Vice President

THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND, as Lender
By:	/s/ John Holt
	Name:	John Holt
	Title:	Authorized Signatory


By:	/s/ Auveen O’Hanlon
	Name:	Auveen O’Hanlon
	Title:	Authorized Signatory


THE ROYAL BANK OF SCOTLAND PLC, as Lender
By:	/s/ Charlotte Sohn Fuiks
	Name:	Charlotte Sohn Fuiks
	Title:	Senior Vice President

STANDARD CHARTERED BANK, as Lender
By:	/s/ David B. Edwards
	Name:	David B. Edwards
	Title:	Senior Vice President


By:	/s/ Robert K. Reddington
	Name:	Robert K. Reddington
	Title:	AVP/Credit Documentation Standard Chartered Bank

BANK OF TAIWAN, NEW YORK AGENCY, as Lender
By:	/s/ Eunice S. J. Yeh
	Name:	Eunice S. J. Yeh
	Title:	SVP & GM

UFJ BANK LIMITED, NEW YORK BRANCH, as Lender
By:	/s/ John T. Feeney
	Name:	John T. Feeney
	Title:	Vice President

BANK OF CHINA, as Lender
By:	/s/ William W. Smith
	Name:	William W. Smith
	Title:	Chief Lending Officer

FIFTH THIRD BANK, as Lender
By:	/s/ Christine L. Wagner
	Name:	Christine L. Wagner
	Title:	Vice President

MIZUHO CORPORATE BANK, LTD., as Lender
By:	/s/ Raymond Ventura
	Name:	Raymond Ventura
	Title:	Senior Vice President


SUMITOMO MITSUI BANKING CORPORATION, as Lender
By:	/s/ Edward D. Henderson, Jr.
	Name:	Edward D. Henderson, Jr.
	Title:	General Manager

THE BANK OF NOVA SCOTIA, as Lender
By:	/s/ Todd Meller
	Name:	Todd Meller
	Title:	Managing Director

U.S. BANK NATIONAL ASSOCIATION, as Lender
By:	/s/ Heather Hinkelman
	Name:	Heather Hinkelman
	Title:	Banking Officer

UNION BANK OF CALIFORNIA, N.A., as Lender
By:	/s/ Theresa L. Rocha
	Name:	Theresa L. Rocha
	Title:	Vice President

BANCA DI ROMA — NEW YORK BRANCH as Lender
By:	/s/ Guido Lanzoni
	Name:	Guido Lanzoni
	Title:	Assistant Treasurer

By:	/s/ Jonathan Bloom
	Name:	Jonathan Bloom
	Title:	Vice President

BANK LEUMI USA, as Lender
By:	/s/ John Kueningsberg
	Name:	John Kueningsberg
	Title:	First Vice President


By:	/s/ Iris Steinhardt
	Name:	Iris Steinhardt
	Title:	Vice President

BEAR STEARNS CORPORATE LENDING INC., as Lender
By:	/s/ Richard Bram Smith
	Name:	Richard Bram Smith
	Title:	Vice President


CHANG HWA COMMERCIAL BANK, LTD., NEW YORK BRANCH, as Lender
By:	/s/ Ming-Hsien Lin
	Name:	Ming-Hsien Lin
	Title:	SVP & General Manager

FIRST COMMERCIAL BANK, NEW YORK AGENCY, as Lender
By:	/s/ Helen Tong
	Name:	Helen Tong
	Title:	VP

HUA NAN COMMERCIAL BANK, LTD., NEW YORK AGENCY, as Lender
By:	/s/ Jeng-Fang Geeng
	Name:	Jeng-Fang Geeng
	Title:	General Manager

ISRAEL DISCOUNT BANK OF NEW YORK, as Lender
By:	/s/ Howard Weinberg
	Name:	Howard Weinberg
	Title:	Senior Vice President I


By:	/s/ David Acosta
	Name:	David Acosta
	Title:	Assistant Vice President

TAIPEI FUBON BANK, as Lender
By:	/s/ Sophia Jing
	Name:	Sophia Jing
	Title:	V.P. & General Manager

THE BANK OF NEW YORK, as Lender
By:	/s/ Johna M. Fidanza
	Name:	Johna M. Fidanza
	Title:	Vice President


E.SUN COMMERCIAL BANK, LTD., LOS ANGELES BRANCH, as Lender
By:	/s/ Benjamin Lin
	Name:	Benjamin Lin
	Title:	EVP & General Manager

NORINCHUKIN BANK, as Lender
By:	/s/ Toshifumi Tsukitani
	Name:	Toshifumi Tsukitani
	Title:	General Manager


	Page
ARTICLE I DEFINITIONS		1

SECTION 1.1. Definitions		1

SECTION 1.2. General		15

SECTION 1.3. Other Definitions and Provisions		16

ARTICLE II REVOLVING CREDIT FACILITY		17

SECTION 2.1. Revolving Credit Loans		17

SECTION 2.2. Procedure for Advances of Revolving Credit Loans		17

SECTION 2.3. Repayment of Revolving Credit Loans		18

SECTION 2.4. Evidence of Debt		18

SECTION 2.5. Permanent Reduction of the Revolving Credit Commitment		19

SECTION 2.6. Termination of Revolving Credit Facility		19

SECTION 2.7. Increase in the Aggregate Revolving Credit Commitments		19

ARTICLE III LETTER OF CREDIT FACILITY		21

SECTION 3.1. L/C Commitment		21

SECTION 3.2. Procedure for Issuance of Letters of Credit		21

SECTION 3.3. Fees and Other Charges		22

SECTION 3.4. L/C Participations		22

SECTION 3.5. Reimbursement		23

SECTION 3.6. Obligations Absolute		25

SECTION 3.7 Effect of Application		25

ARTICLE IV COMPETITIVE BID FACILITY		25

SECTION 4.1. Bidding Procedure		25

SECTION 4.2. Minimum Amounts		28


JONES APPAREL GROUP USA, INC., as Borrower
By:	/s/ Wesley R. Card
	Name:	Wesley R. Card
	Title:	Chief Financial Officer

JONES APPAREL GROUP, INC., as Additional Obligor
By:	/s/ Wesley R. Card
	Name:	Wesley R. Card
	Title:	Chief Operating and Financial Officer

JONES APPAREL GROUP HOLDINGS, INC., as Additional Obligor
By:	/s/ Ira M. Dansky
	Name:	Ira M. Dansky
	Title:	President

KASPER, LTD., as Additional Obligor
By:	/s/ Peter Boneparth
	Name:	Peter Boneparth
	Title:	President

JONES RETAIL CORPORATION, as Additional Obligor
By:	/s/ Wesley R. Card
	Name:	Wesley R. Card
	Title:	Vice President

NINE WEST FOOTWEAR CORPORATION, as Additional Obligor
By:	/s/ Ira M. Dansky
	Name:	Ira M. Dansky
	Title:	Executive Vice President and Secretary


	1.	Effective Date: ,

	2.	Assignor’s Interest Prior to Assignment:

%		(a) Revolving Credit Commitment Percentage

$		(b) Outstanding balance of Revolving Credit Loans

$		(c) Outstanding balance of Assignor’s Revolving Credit Commitment Percentage of the L/C Obligations

	3.	Assigned Interest (from Section 1) of:
%		(a) Revolving Credit Loans

	4.	Assignee’s Extensions of Credit After Effective Date:

$		(a) Total outstanding balance of Assignee’s Revolving Credit Loans (line 2(b) times line 3(a))

$		(b) Total outstanding balance of Assignee’s Revolving Credit Commitment Percentage of the L/C Obligations (line 2(c) times line 3(a))

	5.	Retained Interest of Assignor after Effective Date:

		(a) Retained Interest (from Section 1):
%		(i) Revolving Credit Commitment Percentage

$		(b) Outstanding balance of Assignor’s Revolving Credit Loans (line 2(b) times line 5(a)(i))

$		(c) Outstanding balance of Assignor’s Revolving Credit Commitment Percentage of L/C Obligations (line 2(c) times line 5(a)(i))


6. Payment Instructions:

(a)		If payable to Assignor,
		to the account of Assignor to:
		ABA No.:
		Account Name:
		Account No.
		Attn:
		Ref:

(b)		If payable to Assignee,
		to the account of Assignee to:

		ABA No.:
		Account Name:
		Account No.:
		Attn:
		Ref:


Count for	949148	193
Total Number of Transactions		193


Total Outstanding Amount for		USD	28,319,202.61 USD



Report Date 05/12/2005 08:07:10 (EDT)	DAILY OUTSTANDING	16 of 17


Import L/C — Outstanding: by Bank Reference		12 May 2005
JONES APPAREL GROUP-NINEWEST		8:28 AM


		Interest Rate		Balance at 4/30
Jones Apparel Group USA, Inc.

Bank of America
(Tennessee warehouses)	Various			$	666,666
Capital Leases
Equipment	Various			$	14,717,388
7.875% Senior Notes due 2006		7.875	%	$	224,649,582
4.250% Senior Notes due 2009		4.250	%	$	249,791,081
5.125% Senior Notes due 2014		5.125	%	$	249,799,625
6.125% Senior Notes due 2034		6.125	%	$	249,566,720

Nine West Group, Inc.

8.375% Series B Senior Notes due 2005		8.375	%	$	129,585,807
Barneys

9.000% Senior Secured Note due 2006		9.000	%	$	3,335,855

Jones Retail Corporation

Capital Leases
Equipment	Various			$	571,778

McNaughton

Capital Lease
(Virginia warehouse)		7.20	%	$	24,323,227

Jones Management Service

Capital Leases
Equipment	Various			$	2,438,955

Jones International Limited

Capital Leases
Equipment	Various			$	25,440


JAG Management Services
Due to Jones Apparel Group, Inc.	$	6,667
Due to Jones Retail Corporation		76,774

				83,441

Apparel Testing Services
Due to Jones Management Service Company	$	2,056,741
Due to Nine West Development.		432,572
Due to Jones Retail Corporation		198,251

				2,687,564

Kasper
Due to Jones Canada	$	6,955,056
Due to Jones Apparel Group USA		16,493,009
Due to Jones Apparel Group, Inc.		689,919
Due to Jones Apparel of Texas		8,512,259
Due to Asia Expert LTD		3,099,433
Due to Nine West Footwear		6,887,689
Due to McNaughton Apparel		438,673
Due to Jones International Limited		952,973
Due to Jones Management Service Company		6,496,081

				50,525,092

Lion Licensing
Due to Jones Management Service Company	$	160,307
Due to Nine West Development		11,438

				171,745

Jones Holding
Due to Jones Apparel Group USA				100,000

Asia Expert LTD
Due to Jones Apparel Group USA				3,099,433

Nine West Melbourne Party
Due to Jones Management Service Company				138,789

Hong Kong LTD
Due to Nine West Footwear				619,360

			$	5,998,999,768

1.		Liens, if any, in respect of certain computer equipment, POS equipment, warehouse equipment, copiers and other office equipment and office furniture used by the Credit Parties and their Subsidiaries which are subject to leases, which Liens, in the aggregate, do not have a Material Adverse Effect.

2.		Liens, if any, in respect of the intellectual property acquired pursuant to the acquisition by Nine West Group Inc. of the footwear business of The United States Shoe Corporation, which Liens, in the aggregate, do not have a Material Adverse Effect.

3.		Liens in respect of the property acquired pursuant to the acquisition by Jones Apparel Group, Inc. of Barneys New York, Inc., which Liens secure the 9.000% Senior Secured Notes due 2006.


SUN APPAREL	$	71,231

JONES MANAGEMENT SERVICE COMPANY	$	30,646

JONES CANADA	$	4,005


TOTAL LOANS AND ADVANCES TO EMPLOYEES	$	105,882


JAG USA	$	1,606,375
JONES INVESTMENT	$	0


TOTAL INVESTMENTS (including overnight deposits)	$	1,606,375