For Immediate Release

Hong Kong - April 8, 2005 - The offer of AS Watson (France) SNC (AS Watson), a wholly-owned subsidiary of multinational conglomerate Hutchison Whampoa Limited (HKEx : 0013; LSE: HWH), aimed at buying the shares and existing or potential convertible bonds (OCEANE) of Marionnaud Parfumeries SA (MAR : FP), closed on March 21, 2005. As indicated by the French financial market regulator (AMF) on April 4, 2005, AS Watson has successfully acquired 90.69% of the capital and the voting rights of the company on a non-diluted basis and 78.76% of the capital and the voting rights on a fully diluted basis.

AS Watson has decided that the offer will re-open on the same conditions, namely 21,80 euros per share and 69,74 euros per OCEANE, for a period of fifteen working days, from April 11 to April 29, 2005. This was confirmed by the Board of Directors at Marionnaud's Board Meeting yesterday.

In the meeting, the management of Marionnaud presented to the board an analysis of the group's cash position. At the end of this presentation, the Board unanimously agreed on the need to carry out a capital increase that would not exceed 800 million euros. The exact amount of this capital increase will be determined after the settlement of the accounts as of December 31, 2004.

AS Watson has informed the AMF that once it acquires 95% of the voting rights of Marionnaud, it will make a compulsory purchase of the remaining 5% and delist the company.

In accordance with the agreements of January 14, 2005, Ian F. Wade, Group Managing Director of AS Watson, has been appointed as director of Marionnaud.

Marcel Frydman, President and CEO of Marionnaud, also indicated his intention to present to the Board, on April 25, 2005, Marionnaud's accounts for 2004.

On 14 January this year, AS Watson announced a cash offer of approximately 534 million euros for Marionnaud shares and OCEANE.

AS Watson's strategic goal for the acquisition is to leverage on the success of Marionnaud and continue expanding the Marionnaud brand in France and internationally. The arrival of AS Watson is expected to take Marionnaud to new heights by improving its financial performance, combining both companies' international network, and creating synergies in both sourcing and logistics. AS Watson also believes that the acquisition will provide enhanced opportunities for employees by unlocking significant unrealized potential in the business.

About AS Watson Group

AS Watson Group is one of the longest established and best-known trading names originating in Asia with a history dating back to 1828. Today, it is a wholly-owned subsidiary of Hong Kong-based multinational conglomerate Hutchison Whampoa Limited, and has operations in 31 markets across Asia and Europe.

In Asia, AS. Watson owns seven retail brands spanning from health and beauty to food, electronics, fine wine and airport duty free. Operated under the name Watsons Your Personal Store, AS Watson is the largest health and beauty retailer in Asia with over 980 stores in 10 markets.

In Europe, AS Watson enjoys similar position and is the largest health and beauty, and perfumeries retailer. Its current retail network comprises of eight retail brands, including the recently acquired Marionnaud chain, over 4,800 stores in 17 countries.

AS Watson has 87,000 employees worldwide and in 2004, its reported turnover was HKD74.4 billion (approx. USD9.5 billion).

About Marionnaud

In 1984, Marcel Frydman opened the first Marionnaud store and ever since the group has registered an exceptional growth. Indeed, between 1986 and 1992, the company bought a large number of local perfume retailers and independent outlets.

Owning 48 outlets in 1996, the company acquired "Bernard Marionnaud," which at the time was having difficulties. During 1997, the company registered a spectacular recovery. After this success, Marionnaud announced an IPO for the secondary market in order to raise enough funds for its development. As a result, the group acquired more than 1,100 outlets over the period of five years.

In 2002, the group continued its European growth, particularly in Italy, Spain and Portugal and became the French leading perfume retailer, second in Europe with 1,226 outlets, of which 565 in France (5,400 employees) and 661 abroad (3,500 employees).

Since 1991, Marionnaud entered the primary market and since the Stock Exchange reform, it has been listed in the C listing of Eurolist.

In 2003, the turnover of the company amounted to 1.1 billion euros. At the end of the first-half of 2004, it reached 515 million euros. 35% of this turnover was made abroad.

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