Press Release

Prospect Heights, IL -- April 29, 2003 - Household International, a subsidiary of HSBC Holdings plc (NYSE: HBC), today announced that its retail services business has signed an agreement to establish a new private label credit card program for Galyan's Trading Company Inc. (Nasdaq: GLYN). Galyan's is a specialty retailer offering outdoor and athletic equipment, apparel, footwear and accessories, as well as casual apparel and footwear.

Through the agreement, Galyan's and Household will develop the Experience Card for customers who are passionate about sports and the outdoors. Using the new card, Galyan's customers will be able to purchase whatever they need to satisfy their active lifestyles. And, they'll get the most of the new credit program by benefiting from special financing options, discounts on Galyan's label apparel, invitations to stores events and additional purchase incentives.

"Household is pleased to partner with Galyan's to manage private label financing for its active lifestyle customers," said Sandy Derickson, managing director and CEO, Household's retail services business. "As we head into the summer season, Household's flexible financing and state-of-the-art processing will make it easier than ever for Galyan's customers to make purchases in their stores."

"We are excited about the opportunities this partnership presents to our customers," said Bob Mang, Chairman & Chief Executive Officer of Galyan's. "The flexibility it brings to financing and processing extends Galyan's capabilities to enhance the customer offering at our stores as we continue to grow," Mang adds.

As one of the nation's leading private-label credit card providers, Household's retail services business works with more than 70 partners at 63,000 locations across the country to help them attract new customers and build consumer loyalty. Committed to enhancing the customer experience in every single transaction, Household provides flexible, customized credit card and marketing solutions for many of the world's largest retailers and manufacturers including, Best Buy, CompUSA, Costco, Menards, Microsoft, Mitsubishi, Sony, and Yamaha.

About Galyan's
Galyan's is a specialty retailer that offers a broad range of products that appeal to consumers with active lifestyles, from the casual consumer to the serious sports enthusiast. Galyan's operates 36 stores in 17 states with 15 specialty stores under one roof offering outdoor and athletic equipment, apparel, footwear and accessories, as well as casual apparel and footwear.

About Household
Household International is a wholly-owned subsidiary of HSBC Holdings plc, one of the largest banking and financial services organizations in the world. Through its businesses, Household is a leading provider of consumer loans, credit cards, auto finance and credit insurance products in the United States, United Kingdom and Canada. In the United States, Household operates under the two oldest and most recognized names in consumer finance - HFC and Beneficial. Additionally, Household is one of the nation's largest issuers of private label and general-purpose credit cards, including The GM Card® and the AFL-CIO's Union Plus® card. For more information, visit the company's website at www.household.com.

For more information
Contact: Craig Streem, Household, 847-564-6053, castreem@household.com