(Bovespa: LREN3), one of the three largest apparel department store chains in
Brazil, released today a Material Fact that the model for selling financial
products has been approved.
announces to its shareholders, the market in general and other interested
parties that following the evaluation of detailed studies of the alternatives
presented by Management, the Board of Directors has decided to recommend that
the sale of financial products be conducted through relationships with
financial institutions specialized in each product, such relationships to be
termed "one-off partnerships.

In addition, the Board of Directors has recommended the continued
evaluation of the possibility of forming strategic alliances in line with the
standards and conditions most suited to the company with a view to examining
whether such an alternative would create further shareholder value."
Saks Fifth Avenue's WILD ABOUT CASHMERE will feature several retail themes
that address the distinctive lifestyle approaches of Saks eclectic clientele,
with unifying elements of luxury, quality and beauty throughout. It's a funky style offset by plenty of luxurious
details.

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It's a kaleidoscope
of stripes and dots.saks.

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A."
With this option, the Board supports the recommendation that this activity
complement our business without in anyway detracting from the company's
principal activity, thus maintaining the focus on the policy of customer
"enchantment" and preserving Lojas Renner's organizational culture. It's flower power.

AGE OF INNOCENCE
Enroll them in the good life from day one.

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"Our customers want style, choice and exclusivity, and WILD ABOUT CASHMERE
will deliver cashmere choices beyond their wildest imagination," says Ron
Frasch, Vice Chairman and Chief Merchant , Saks Fifth Avenue. It's house wares and gifts, men's and
women's clothing, accessories and beauty .

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E. I would like to recognize both the Italian Institute for
Foreign Trade and Saks Fifth Avenue for this initiative, which should enable
them to reap enormous benefits for the further development of trade relations
between the US and Italy.

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About Lojas Renner
Lojas Renner is one of the three largest apparel department store chains
in Brazil.
Never before has a retailer embarked on such an ambitious and creative
approach to cashmere, says Andrew Jennings, President and COO, Saks Fifth
Avenue Enterprises. By combining the world's finest fashion designers with
one -of-a-kind merchandise, dramatic in-store installations and an explosion of
color, we've elevated cashmere to a lifestyle in a bold, statement-making way.C.
WILD ABOUT CASHMERE will also include an exclusive Parisian-inspired
Sweater Salon created to elevate this wardrobe staple to a new level of
sophisticated glamour. In colorful
cashmere monogrammed slippers and robes, riding jackets , desk sets and
corduroys are ready for the next generation.

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The full notice was released as follows:
According to its bylaws and pursuant to Paragraph 4 of Article 157 of Law
6,404/76 and CVM Instruction 358/02 and amendments, Lojas Renner S.
Saks tapped designer Rebecca Moses to consult as the project's creative
director for her expertise in the world of global design, as well as for her
storied history and personal passion for cashmere.

Saks Fifth Avenue's WILD ABOUT CASHMERE offerings will also be available
through a dedicated website http://www. Trade Promotion Section of the Consulate
General of Italy supports Saks Fifth Avenue's WILD ABOUT CASHMERE.

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- Unprecedented Retail Event Debuts Nationwide on September 20,
Designer Rebecca Moses Tapped as Creative Director/Consultant,
Italian Trade Commission Signs on as Lead Sponsor -

NEW YORK, Saks Fifth Avenue (SFA) unveiled plans
today for WILD ABOUT CASHMERE, an unprecedented retail initiative that will
kick off in all 57 Saks stores on September 20, 2005, and run through Holiday
2005. Sweaters, from cozy to couture, all of them
limited-edition designs by Rebecca Moses, will be displayed as complete
outfits, with an evolving array of spectacular skirts , scarves, gloves, coats,
handbags and shoes.

FOREVER YOUNG
Feel like jumping for joy? Do it with a cashmere jump rope.com (an extension of
http://www.saks.

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BEAUTIFUL INDIVIDUALIST
The epitome of personal style is a non-conformist attitude.

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Consequently , from April 2006, the company is to begin the sale of
financial products through the medium of "one -off partnerships", offering its
clients the possibility of obtaining personal credit lines, insurance policies
and capitalization securities. Polo shirts are reincarnated in pop prints.

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Saks Fifth Avenue Goes WILD ABOUT CASHMERE

com/cgi-bin/prnh/20050915/NYTH016-b )
More than 100 international designers and manufacturers are participating
in WILD ABOUT CASHMERE, which will transcend predictable product categories to
include handbags, jewelry, shoes, home furnishings, intimates, outerwear, baby
and beauty. And it's all guaranteed to color
your world and lift your spirits.com), as well as through three Saks Fifth Avenue catalogues,
including a special edition devoted entirely to WILD ABOUT CASHMERE.
Saks Fifth Avenue Enterprises, a member of the Saks Incorporated group of
stores , comprises 57 stores throughout the United States, 51 Off 5th outlet
stores, and http://www.com, the company's e-commerce site.

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The Company also sells accessories and
cosmetics through two private brands and offers third-party branded
merchandise in certain of its product categories.

said, "Events such as 'Wild about Cashmere', in which our
international trade promotion organizations can rely on partners like Saks
Fifth Avenue, offer particularly effective opportunities for enhancing these
relationships.
Dedicated in-store shops will bring to life the WILD ABOUT CASHMERE
themes:

BOHEMIAN GRANDEUR
From Malibu to Marrakech, rich hippies will flock to this look with its
artsy, vintage appeal.

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From cashmere-lined backpacks to cashmere sleeping bags, you can
take a fun, sportive approach to life without ever leaving the land of luxury.
Swarovski crystals and fur send cashmere into the stratosphere. For an
exciting evening out or an elegant one at home , cashmere goes extravagant in
evening gowns and haute handbags, as well as the most intimate of apparel . Published by HarperCollins, the book will be sold exclusively at
Saks until January 2006, when it will roll out to bookstores nationwide.

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Sponsored by the Italian Trade Commission, Saks Fifth Avenue 's WILD
ABOUT CASHMERE will feature an extraordinary array of exclusive merchandise
commissioned in part by designer Rebecca Moses who has been named Creative
Director and Consultant for the project . Injecting a
little wit into your wardrobe? Start with a retro Mickey Mouse sweater in
cashmere .

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With 66 stores, being 60 mall-based stores and 6 stand-alone stores
strategically located throughout the South, Southeast and Mid-Western regions
of Brazil, the Company designs, develops and sells women 's, men's, teen and
children's quality and fashionable apparel, footwear and intimate apparel
under the eleven private brands of its Lifestyle concept, each of which
targets a specific clothing style . Wild sweaters, embroidered accessories and colorful pieces for the
home all make exceptional gifts for the free-spirited.C.

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Deputy Minister Adolfo Urso of the Italian Ministry of Industry and
Foreign Trade I. These
themes, spanning all product categories and price points, include: Bohemian
Grandeur, Forever Young, New Age Glamour, Shock and Pop, Rock N' Roll,
Tradition Redefined, The Beautiful Individualist and Age of Innocence.

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Lojas Renner: Model for Selling Financial Products Has Been Approved

A.com/cgi-bin/prnh/20050915/NYTH016-a
http://www.E.

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(Photo: http://www.newscom. She also helped assemble some of
the world's most famous names in fashion, home design, accessories and beauty
to participate in this rich program.

ROCK N' ROLL
It's all that you can't leave behind, everything that's too cool for
school.wildaboutcashmere.

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NEW AGE GLAMOUR
Cashmere goes couture with opulent touches of silk, chiffon and lame.

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PORTO ALEGRE, Brazil, Lojas Renner S.
The Italian Ministry of Industry and Foreign Trade and the Italian
Institute for Foreign Trade -- I.

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Designers will enhance their signature styles with an innovative
cashmere component specially created for label. Saks Contemporary Department comes alive with studded leathers,
sequin-emblazoned pop prints and embellished denim that take cashmere to the
limit. If you seek
the extraordinary, and resist blending I, then find what you're looking for in
Saks' Bridge Department. Pure cashmere baby blankets,
photo albums, tie-dyed tees and plush toys are (almost) softer than a baby's
bottom. As part of WILD ABOUT CASHMERE, Saks will also debut its first
children's book. Thirty-two engaging pages tell the tale of a charming family
of Mongolian cashmere goats that makes its way to Saks Fifth Avenue in New
York City. A
national advertising campaign, in-store events, direct mail and other
promotional activities will announce the campaign to consumers.

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SHOCK + POP
It's Andy Warhol meets Doris Day and Day-glo on acid.

A vegan is one who eats no animal food or dairy products, and also might not use any products from animals such as leather or animal-fatted soaps.

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newscom. Moses, who lives and works
in Italy, designed more than 250 original products for WILD ABOUT CASHMERE in
collaboration with Italy's top manufacturers. Every item in the Sweater Salon will be exclusive to Saks
Fifth Avenue.

TRADITION REDEFINED
Old-world style meets modern sensibilities and suddenly everything
familiar is new again.