Limited Brands to Present at the ICR Xchange Conference

• general economic conditions, consumer confidence, consumer spending patterns and market disruptions including severe weather conditions, natural disasters, health hazards, terrorist activities, financial crises, political crises or other major events, or the prospect of these events;
• the seasonality of our business;
• the dependence on a high volume of mall traffic and the possible lack of availability of suitable store locations on appropriate terms;
• our ability to grow through new store openings and existing store remodels and expansions;
• our ability to successfully expand into international markets and related risks;
• our independent licensees and franchisees;
• our direct channel business;
• our failure to protect our reputation and our brand images;
• our failure to protect our trade names, trademarks and patents;
• the highly competitive nature of the retail industry generally and the segments in which we operate particularly;
• consumer acceptance of our products and our ability to keep up with fashion trends, develop new merchandise and launch new product lines successfully;
• our reliance on foreign sources of production, including risks related to:
  • political instability;
  • duties, taxes and other charges on imports;
  • legal and regulatory matters;
  • volatility in currency exchange rates;
  • local business practices and political issues;
  • potential delays or disruptions in shipping and related pricing impacts;
  • the disruption of imports by labor disputes; and
  • changing expectations regarding product safety due to new legislation;
• stock price volatility;
• our failure to maintain our credit rating;
• our ability to service our debt;
• our ability to retain key personnel;
• our ability to attract, develop and retain qualified employees and manage labor costs;
• the inability of our manufacturers to deliver products in a timely manner and meet quality standards;
• fluctuations in product input costs;
• fluctuations in energy costs;
• increases in the costs of mailing, paper and printing;
• claims arising from our self-insurance;
• our ability to implement and maintain information technology systems;
• our failure to comply with regulatory requirements;
• tax matters; and
• legal and compliance matters.

We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release or the ICR conference presentation and webcast to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in "Item 1A. Risk Factors" in our 2011 Annual Report on Form 10-K.

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