(London, England, November 27, 2002) Transatlantic firm, Reed Smith Warner Cranston, is pleased to announce that it has advised Sara Lee Courtaulds on the sale of three of their businesses in the U.S. to Harris Watson Investments. The value of the deal is confidential.

The sale of the three businesses - Penn Nyla, Dartex Coatings and Enterprise Coatings - completes the disposal by Sara Lee of the entire Courtaulds International Fabrics division. The deal was led by Tim Foster, U.K. Managing Partner and Head of Business & Finance, assisted by Sakil Suleman, Associate in the Business & Finance department. Reed Smith U.S. lawyers from the Pittsburgh office, Glenn Mahone and Ron Francis assisted the London team.

Tim Foster, U.K. Managing Partner and Head of Business & Finance commented: 'Sara Lee Courtaulds is one of more than sixty clients that we are currently doing work for on both sides of the Atlantic. This deal is a good example of how the U.K. and U.S. offices can work together to provide a seamless service to clients.'