Tommy Hilfiger merger finalised

Tommy Hilfiger Corporation announced yesterday that its shareholders voted to approve the merger agreement with Elmira 2 B.V. and Elmira (BVI) Unlimited, which are subsidiaries of funds advised by Apax Partners, at a special meeting of shareholders held today.

The merger is expected to close May 10, 2006 , subject to the satisfaction of other previously disclosed closing conditions. In accordance with the terms of the merger agreement, at the closing, each ordinary share of Tommy Hilfiger Corporation will be converted into the right to receive $16.80 in cash, without interest.

Tommy Hilfiger Corporation, through its subsidiaries, designs, sources and markets men's and women's sportswear, jeanswear and childrenswear. The Company's brands include Tommy Hilfiger and Karl Lagerfeld. Through a range of strategic licensing agreements, the Company also offers a broad array of related apparel, accessories, footwear, fragrance, and home furnishings. The Company's products can be found in leading department and specialty stores throughout the United States, Canada, Europe, Mexico, Central and South America, Japan, Hong Kong, Australia and other countries in the Far East, as well as the Company's own network of outlet and specialty stores in the United States, Canada and Europe.

Apax Partners is one of the world's leading private equity investment groups, operating across the United States , Europe , Israel and Asia . Apax Partners has raised or advised approximately US $20 billion around the world. With more than 30 years of direct investing experience, Funds advised by Apax Partners provide long-term equity financing to build and strengthen world-class companies.