Limited Brands on Monday announced shareholder value initiatives as well as the appointment of a new board member. The Ohio-based company increased dividend with 33% to USD 0,40 per share. The board of Limited Brands - Limited, Victoria's Secret and Express-stores - also authorised a repurchase-plan of 150 million dollar worth of its outstanding shares.

"Since 1996, we have returned almost $6 billion in value to our shareholders through the repurchase of shares, payment of quarterly dividends and spin-offs," said Leslie H. Wexner, Chief Executive Officer and Chairman of the Board of Limited Brands. "I believe that the economic environment is going to remain challenging, and we are focused on maintaining our financial position.
This means maintaining the strength and flexibility of our capital structure. I believe these steps allow us to efficiently return capital back to our shareholders and continue to grow the business."

The Company also announced the appointment of Donna James to its Board of Directors, effective immediately. Ms. James, a Certified Public Accountant, is Executive Vice President and Chief Administrative Officer at Nationwide, a $113 billion Fortune 500 insurance and financial services company, and in her current position is responsible for human capital management, corporate communications, advertising, brand management, The Nationwide Foundation, corporate customer relations, and corporate real estate.

February 4, 2003