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Oxford Industries, Inc. announced that on January 3, 2011 it consummated its
previously announced sale of substantially all of Oxford Apparel, one of its
operating groups, to LF USA, a subsidiary of Li & Fung Limited. The net cash
proceeds are expected to be in excess of $95 million after the collection of
retained accounts receivable, the sale of in-transit inventory to LF USA and
the payment of retained liabilities, transaction expenses and income taxes.
The Company's Oxford Golf business and a distribution center in Lyons, GA,
which were part of Oxford Apparel, were not included in the transaction and
will continue to be operated by the Company.
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