Financial Astrology of Limited Brands, Inc.

FINANCIAL ASTROLOGY

First Trade Date for Limited Brands, Inc.

Company Name	First Trade Date (yyyy-mm-dd)
Limited Brands, Inc.	1982-06-10

Company Name	Symbol
Limited Brands, Inc.	LTD
History and Business of Company (this information may include date of incorporation)
Limited Brands, Inc., a Delaware corporation (including its subsidiaries, the "Company"), sells women's and men's apparel, women's intimate apparel and personal care products under various trade names through its specialty retail stores and direct response (catalog and e-commerce) businesses. Merchandise is targeted to appeal to customers in various market segments that have distinctive consumer characteristics. As of February 1, 2003, the Company conducted its business in three primary segments: (1) Victoria's Secret, which derives its revenues from sales of women's intimate and other apparel, personal care products and accessories marketed under the Victoria's Secret brand name and sold through its stores and direct response (catalog and e-commerce) businesses; (2) Bath & Body Works, which derives its revenues from the sale of personal care products and accessories and home fragrance products marketed under the Bath & Body Works and White Barn Candle Company brand names; and (3) the Apparel segment, which derives its revenues from the sale of women's and men's apparel through Express and Limited Stores. On March 21, 2002, the Company completed a tax-free tender offer and merger which resulted in the acquisition of the minority interest of Intimate Brands, Inc. ("IBI"), previously an 84%-owned subsidiary of the Company. See Note 2 to the Consolidated Financial Statements in the Company's 2002 Annual Report, incorporated herein by reference, for additional information regarding this transaction. Following the acquisition of the IBI minority interest, the Company resegmented its business into the three reportable segments discussed above. Previously, the Company's reportable segments were Intimate Brands and Apparel. Historical financial information has been reclassified to reflect this new segmentation. In addition, on November 27, 2002, the Company sold one of its apparel businesses, Lerner New York ("Lerner"), to an investor group led by the business unit's President and Chief Executive Officer and affiliates of Bear Stearns Merchant Banking. The Company's consolidated financial statements reflect Lerner's operating results as a discontinued operation for all periods presented. See Note 3 to the Consolidated Financial Statements in the Company's 2002 Annual Report, incorporated herein by reference, for additional information regarding this transaction.

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