Neiman Marcus 2002 Annual Report Download - page 141

A LETTER TO EMPLOYEES OF THE NEIMAN MARCUS GROUP, INC.
We are writing to tell you about the Neiman Marcus Group, Inc.'s ("NMG" or the "Company") Code of Ethics and
Conduct ("Code") and how it applies to you. We also want to remind you of certain fundamental ethical principles that guide
how we conduct our business.
One unwavering rule lies at the core of NMG's business philosophy: We conduct our businesses in strict compliance with
both the letter and the spirit of the law, and with a scrupulous commitment to the highest standards of business and personal ethics.
Our policies and standards of conduct reflect these basic principles, but words alone cannot create a moral conscience or guarantee
adherence to these standards. Each employee plays an important part in setting these high standards, and each of us shares
responsibility for maintaining them.
Through its operating units, NMG does business in many communities throughout the United States. All employees are
ambassadors of the Company, whose conduct, both within and outside their employment context, has a direct and significant impact
on the Company's business and reputation. The Company's objective is to be respectful and tolerant of different values and customs
and to be a model corporate citizen in all of the communities in which we do business. It expects no less of each employee.
This is not just bureaucratic talk. We mean it. As part of our compliance efforts, we have implemented a program to
ensure that all employees have a clear understanding of their legal and ethical responsibilities, have access to management in order to
obtain guidance when difficult questions arise, and have a full and fair opportunity to advise the Company if they feel illegal or
unethical actions have been or will be taken by other employees of the Company or parties with whom the Company does or seeks to
do business. The Company supports the efforts of employees who in good faith communicate violations or suspected violations of the
Code, and will not tolerate any form of retaliation against individuals who in good faith report possible misconduct, even if upon
investigation their suspicions prove to be unwarranted.
The Company is committed to a comprehensive compliance program that includes many elements. The Code reiterates and
emphasizes the Company's long-standing policies on matters such as antitrust, insider trading and equal employment opportunities,
and sets forth procedures to ensure compliance with the Code. Educational programs enable each employee to recognize and to
respond appropriately to legal and ethical issues that may arise. The Compliance Committee, headed by Tony Bangs, the Company's
General Counsel, oversees the training and compliance program. As part of its responsibilities, the Compliance Committee, in
consultation with senior management of each of our operating units, has appointed Compliance Officers within these units to whom
questions and reports of violations may be addressed. Employees may discuss matters with whomever they feel most comfortable:
their supervisor, a member of the Compliance Committee, their Compliance Officer or any lawyer in the Company's Legal
Department.
We need your help. While we realize that the length of the Code may seem somewhat overwhelming, much of it is
intuitive, and the compliance program is intended to protect both the Company and you as a valuable contributor to the success of our
many diverse businesses. We have the highest regard for our employees, and we understand that NMG can be successful only if it has
motivated, dedicated and
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