BBG TANKING, page-4

GLB earning ride a dumper. GLOBE INTERNATIONAL LIMITED 2002-10-25 ASX-SIGNAL-G

HOMEX - Melbourne

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The Board of Globe International Limited issues the following
earnings guidance to the market.

Recent trading conditions have revealed that several factors have
adversely affected the company's performance more than was
anticipated. These factors include:

* Difficult market conditions in Australia and the USA.
* Lower than forecast orders in footwear by some retailers.
* A strike in the Los Angeles port.
* An apparent shift in market demand to lower priced items in some
product categories.

It is difficult to assess the impact of some of these issues at this
time. The company will outline strategies relating to these and other
matters at its Annual General Meeting to be held on 31 October 2002.

The company expects to achieve pre amortisation earnings per share
for the firsthalf of the financial year in the range of 1.7 cents
per share to 2.2 cents per share.

Historically Globe's earnings significantly strengthen in the second
half of the financial year. The company expects to substantially
improve these earnings per share figures referred to above in the
second half.

For more information, please contact:

Michael Sonand
CFO & COMPANY SECRETARY
Ph: +613 867 1772