DALLAS, Oct 15, 2002/ FW/ --- The faces at Tommy Hilfiger are changing, and it is not the models. Current Chairman Silas Chou is stepping down and current CEO Joel Horowitz will not renew his contract which expires on March 2004.

Mr. Chou, 56, has been Chairman of the Company since its formation in 1989. Together with his partner Lawrence Stroll, they have grown Tommy Hilfiger into a global brand.

Mr. Stroll left less than three months ago to concentrate on their newly acquired company, Asprey and Garrard which is undergoing revitalization as two separate brands.

Mr. Horowitz, 51, has been Chief Executive Officer since 1994, and has been a senior executive of the Company since its inception.

Tommy Hilfiger who is currently Honorary Chairman will be named Chairman of the Board effective October 28. He will also remain as principal designer.

Mr. Horowitz said that he informed the Board well in advance of his contract expiration that he would not be continuing as CEO in order to allow the Company time to find a successor and to provide for a period of time during which he and his successor could work together to ensure a smooth transition.

The Company said that it had engaged the firm of Herbert Mines Associates to conduct the executive search.

"On behalf of the Board, as well as personally, I want to thank Silas for his unwavering support since this company began," said Hilfiger. "Over the past 13 years, Tommy Hilfiger has grown into a successful, global brand, and we owe much to Silas' inspiration, leadership and wise counsel. He has helped create a solid foundation from which we can move forward into the future."

Silas Chou's departure, and Joel Horowitz's plan of leaving marks the end of an era at Tommy Hilfiger. These four men - Stroll, Chou, Horowitz and Hilfiger were instrumental in making the Tommy Hilfiger brand what it is today.