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Victory Corporation (VRY)

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Friday 06 April, 2001

Victory Corporation

Cosmetics Licensing Agreement

Victory Corporation PLC
6 April 2001



6th April 2001

                           VICTORY CORPORATION PLC

            FIRST INTERNATIONAL COSMETICS LICENSING DEAL COMPLETED

Victory Corporation plc ('Victory') is pleased to announce that The Virgin
Cosmetics Company has signed its first international cosmetics licensing deal
with Luxasia pte Ltd, the specialist cosmetics, fragrance and toiletries
distributor for the Asian region.

The terms of the licensing agreement allow Luxasia the rights to distribute
Virgin Cosmetics products via retail outlets and direct sales. The Virgin
Cosmetics Company will receive a margin on product and a royalty. The Virgin
Cosmetics Company also has a call option to take a 50% stake of the
Virgin-related Luxasia venture within 18 months from the date of commencement
of trading.

The licence covers Singapore, Malaysia, Hong Kong, Taiwan, Indonesia, Korea,
India and China. It is expected that the first territories - Singapore,
Malaysia and Hong Kong - will begin trading within the forthcoming financial
year 2001-02.

Background on Luxasia

Luxasia is a private company based in Singapore. The Company specialises in
the distribution of cosmetics, fragrances and toiletry brands in eight markets
throughout Asia. Their portfolio of brands includes Escada, Bulgari, Davidoff,
Tiffany and Dolce & Gabana.

Commenting on the deal, John Jackson, Chief Executive of Victory, said:

'We are delighted to have signed our first international cosmetics deal with
such an experienced partner. We have an outstanding range of products with a
truly global appeal and with Luxasia's talent for and wealth of experience in
the distribution and marketing of premium quality cosmetic and fragrance
brands, we have every confidence that we will enjoy great success in the Far
East.'

                                    -Ends-


For further information, please contact:
John Jackson, Chief Executive

Victory Corporation plc                                           01243 622 226
Gordon Lee, Head of Communications                                01243 622 226

Victory Corporation plc
David Simonson / Melanie Toyne Sewell                             020 7606 1244

Merlin Financial



Notes to Editors

1. Victory Corporation plc

Victory Corporation plc comprises three main trading businesses, The Virgin
Cosmetics Company, The Virgin Clothing Company and Capo (see below)

2. The Virgin Cosmetics Company

Founded in 1996, Virgin Cosmetics has two main channels of distribution:

Virgin Cosmetics Direct A nationwide network of more than 7,000 self-employed
Independent Consultants who sell Virgin Vie products on a party plan basis in
the home.

Virgin Cosmetics Retail With the first store opening in October 1997 there are
now 13 Virgin Cosmetic Company stores in the UK and Ireland located in:
Brighton, Bristol, Bromley, Dublin, Glasgow (2), Lakeside Thurrock, Meadowhall
Sheffield, Newcastle and in Virgin Active Life Centres in Leeds, Manchester,
Northampton (opens 13th April 2001) and Preston.

3. The Virgin Clothing Company

The Virgin Clothing Company was also founded in 1996, originally in the
wholesale clothing sector but now concentrating its resources on growing the
clothing business through international licensing arrangements with key
strategic partners.

4. Capo (formerly Capolito Roma)

Capo is a clothing retailer, specialising in brands such as Timberland,
Rockport, Henry Lloyd, Pringle, Levis and Tommy Hilfiger. Capo operates out of
15 stores around the UK and was acquired by Victory in March 1999.