Exhibit 99

LEVI                               1155 Battery Street, San Francisco, CA 94111
STRAUSS
   & Co.
NEWS
                                               Investor Contact: Eileen VanEss
                                                                 (415) 501-2477
For Immediate Release                           Media Contact:   Linda Butler
                                                                 (415) 501-6070

   LEVI STRAUSS & CO. RECEIVES $1.05 BILLION SENIOR SECURED CREDIT FACILITY;
                      COMPLETES $500 MILLION BOND OFFERING

SAN FRANCISCO  (February 1, 2001) - Levi Strauss & Co. today  announced  that it
has  closed  on an  agreement  for a new $1.05  billion  senior  secured  credit
facility,  which consists of a $700 million  revolving  credit facility and $350
million of term loans.  The new facility  replaces the  company's  existing bank
facilities under more favorable terms,  which includes lower borrowing costs and
extends the date of maturity to August 31, 2003.  LS&CO.  negotiated  the credit
facility through Bank of America,  N.A., Citicorp USA, Inc. and The Bank of Nova
Scotia.

The company also recently  completed its offering of approximately  $500 million
of 11 5/8%  senior  notes due 2008,  which were sold in a private  placement  in
accordance with Securities and Exchange  Commission Rule 144A. Net proceeds from
the  offering  were used to repay a portion  of the  outstanding  debt under the
company's then-existing bank credit facilities, and accordingly, the size of the
new credit  facility was reduced from the  previously  announced $1.5 billion to
$1.05 billion.  The notes,  consisting of both U.S. Dollar and Euro notes,  rank
equally with all of the company's other unsecured senior indebtedness.

"The  combination of these two transactions  significantly  improves our capital
structure,"  said Bill  Chiasson,  Levi Strauss & Co. Chief  Financial  Officer.
"Under our business  turnaround plan, we will continue to deploy our strong cash
flow toward  further  debt  reduction.  We believe this show of support from our
financing  partners and members of the investment  community,  together with the
company's solid financial  performance in fiscal 2000,  underscores the progress
we are making with our key turnaround strategies."

                                   -- more --


LS&CO. Credit Facility/Add 1
February 1, 2001


Levi  Strauss & Co. is one of the world's  leading  branded  apparel  companies,
marketing its brands in more than 80 countries  worldwide.  The company  designs
and markets  jeans and  jeans-related  pants,  casual and dress  pants,  shirts,
jackets and related accessories for men, women and children under the Levi's(R),
Dockers(R) and Slates(R) brands.

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