Exhibit 99.1

				1155 Battery Street, San Francisco, CA 94111
		Investor Contact:		Allison Malkin
				Integrated Corporate Relations, Inc.
				(203) 682-8200
		Media Contact:		Jeff Beckman
				Levi Strauss & Co.
				(415) 501-3317

LEVI STRAUSS & CO. ANNOUNCES SECOND-QUARTER FINANCIAL RESULTS

	•		Net revenues up 6%
	•		Net income increases 14%
	•		Debt reduced more than $50 million

SAN FRANCISCO (July 10, 2007) — Levi Strauss & Co. (LS&CO.) today announced financial results for the second quarter ended May 27, 2007, and filed its second-quarter 2007 Form 10-Q with the Securities and Exchange Commission.

Second-quarter results reflect continued growth momentum, with net revenue improvements in each of the company’s three regions. Net income also improved for the period.

Net revenues for the second quarter were $1,016 million compared to $961 million for the same quarter in 2006, a 6 percent increase. The increase primarily reflects the success of upgraded and premium products worldwide, strong growth in emerging markets in the Asia Pacific region, and incremental revenues from additional brand-dedicated retail stores worldwide. Net revenues also benefited from favorable currency exchange rates during the period.

Net income for the second quarter increased 14 percent to $46 million compared to $40 million in the same quarter of 2006. Net income benefited from lower interest expense as a result of debt repayment and lower interest rates obtained through refinancing actions taken during 2006 and 2007. Refinancing-related costs also were lower in the 2007 period. These improvements were partially offset by higher income tax expense in the second quarter of 2007 compared to the same quarter of 2006 primarily due to a higher discrete tax benefit in the 2006 period.

“Our growth momentum continues,” said John Anderson, chief executive officer. “Our premium products are resonating with consumers. North America — our largest region — is delivering good revenue performance, and I’m particularly pleased with Europe’s progress. We have more work to do in Japan, Korea and the U.S. Levi Strauss Signature^® brand, but our solid first half puts us on track for a good year.”

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LS&CO. Q2 2007 Results/Add One
July 10, 2007

Second-Quarter 2007 Results

	•		Gross profit increased 4 percent to $463 million for the second quarter compared to $446 million for the same period of 2006. Gross margin decreased 1 percent to 45.6 percent of net revenues for the quarter compared to 46.4 percent of net revenues in the same period last year. The lower gross margin reflects increased sales allowances and markdowns, and sales growth of lower-margin products.
	•		Selling, general and administrative expenses for the quarter increased 7 percent to $345 million from $324 million in the 2006 period. Higher SG&A expenses in the 2007 period were primarily attributable to increased selling expense related to new company-operated stores, and higher distribution and marketing expenses in line with the improved net revenues for the quarter.
	•		Operating income increased 3 percent to $118 million compared to $115 million for the second quarter of 2006. Operating income improved due to lower restructuring charges in the 2007 period compared to 2006.
	•		Interest expense decreased 10 percent for the quarter to $56 million compared to $62 million for the prior year period. The decrease is the result of our debt refinancing and debt reduction actions taken during 2006 and 2007, which resulted in lower debt levels and lower average borrowing rates.

“We delivered another quarter of net revenue and net income growth. Our strong cash flow allowed us to further reduce debt while we continue to invest in the business,” said Hans Ploos van Amstel, chief financial officer. “Given our first-half performance, we expect modest net revenue and net income growth for the fiscal year.”

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LS&CO. Q2 2007 Results/Add Two
July 10, 2007

Investor Conference Call

The company’s second-quarter investor conference call will be available through a live audio Webcast at http://www.levistrauss.com/Financials/EarningsWebcasts.aspx today, July 10, 2007, at 1 p.m. PDT / 4 p.m. EDT. A replay is available on the Web site the same day and will be archived for one month. A telephone replay also is available through July 17, 2007, at 800-642-1687 in the United States and Canada, or 706-645-9291 internationally; I.D. No. 5250449.

This news release contains, in addition to historical information, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current assumptions, expectations and projections about future events. We use words like “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions to identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements are necessarily estimates reflecting the best judgment of our senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Investors should consider the information contained in our filings with the U.S. Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the fiscal year ended 2006, especially in the Management’s Discussion and Analysis - “Financial Condition and Results of Operations” and “Risk Factors” sections, our most recent Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. Other unknown or unpredictable factors also could have material adverse effects on our future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this news release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this news release. 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 news release to reflect circumstances existing after the date of this news 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.

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LEVI STRAUSS & CO. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

		(Unaudited)
		May 27,				November 26,
		2007				2006
ASSETS		(Dollars in thousands)
Current Assets:
Cash and cash equivalents		$	307,202			$	279,501
Restricted cash			1,641				1,616
Trade receivables, net of allowance for doubtful accounts of $14,374 and $17,998			489,346				589,975
Inventories:
Raw materials			13,611				13,543
Work-in-process			14,776				13,479
Finished goods			513,669				523,041
Total inventories			542,056				550,063
Deferred tax assets, net			101,759				101,823
Other current assets			75,936				86,292
Total current assets			1,517,940				1,609,270
Property, plant and equipment, net of accumulated depreciation of $565,718 and $530,413			400,645				404,429
Goodwill			206,227				203,989
Other intangible assets, net			42,803				42,815
Non-current deferred tax assets, net			464,850				457,105
Other assets			79,616				86,457
Total assets		$	2,712,081			$	2,804,065
LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS’ DEFICIT
Current Liabilities:
Short-term borrowings		$	10,536			$	11,089
Current maturities of capital leases			1,674				1,608
Accounts payable			198,065				245,629
Restructuring liabilities			13,125				13,080
Other accrued liabilities			172,190				194,601
Accrued salaries, wages and employee benefits			192,376				261,234
Accrued interest payable			58,639				61,827
Accrued income taxes			53,258				14,226
Total current liabilities			699,863				803,294
Long-term debt			2,149,475				2,206,323
Long-term capital leases, less current maturities			2,262				3,086
Postretirement medical benefits			326,411				379,188
Pension liability			190,077				184,090
Long-term employee related benefits			121,958				136,408
Long-term income tax liabilities			24,170				19,994
Other long-term liabilities			44,442				46,635
Minority interest			13,831				17,138
Total liabilities			3,572,489				3,796,156
Commitments and contingencies (Note 5)
Temporary equity			4,841				1,956
Stockholders’ deficit:
Common stock—$.01 par value; 270,000,000 shares authorized; 37,278,238 shares issued and outstanding			373				373
Additional paid-in capital			88,880				89,837
Accumulated deficit			(827,128	)			(959,478	)
Accumulated other comprehensive loss			(127,374	)			(124,779	)
Stockholders’ deficit			(865,249	)			(994,047	)
Total liabilities, temporary equity and stockholders’ deficit		$	2,712,081			$	2,804,065

The notes accompanying our consolidated financial statements in our Form 10-Q are an integral part
of these consolidated financial statements.

LEVI STRAUSS & CO. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME

		Three Months Ended								Six Months Ended
		May 27,				May 28,				May 27,				May 28,
		2007				2006				2007				2006
		(Dollars in thousands)
		(Unaudited)
Net sales		$	997,323			$	944,464			$	2,013,622			$	1,892,338
Licensing revenue			19,037				16,347				40,143				36,114
Net revenues			1,016,360				960,811				2,053,765				1,928,452
Cost of goods sold			553,233				515,071				1,093,023				1,017,593
Gross profit			463,127				445,740				960,742				910,859
Selling, general and administrative expenses			344,792				323,621				640,354				614,916
Restructuring charges, net			66				7,262				12,881				10,449
Operating income			118,269				114,857				307,507				285,494
Interest expense			55,777				61,791				113,502				128,088
Loss on early extinguishment of debt			14,299				32,951				14,329				32,958
Other income, net			(4,306	)			(3,429	)			(17,894	)			(4,577	)
Income before income taxes			52,499				23,544				197,570				129,025
Income tax expense (benefit)			6,784				(16,658	)			65,220				35,009
Net income		$	45,715			$	40,202			$	132,350			$	94,016

The notes accompanying our consolidated financial statements in our Form 10-Q are an integral part
of these consolidated financial statements.

LEVI STRAUSS & CO. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS

		Six Months Ended
		May 27,				May 28,
		2007				2006
		(Dollars in thousands)
		(Unaudited)
Cash Flows from Operating Activities:
Net income		$	132,350			$	94,016
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			33,614				31,083
Asset impairments			7,318				—
Loss (gain) on disposal of property, plant and equipment			238				(1,169	)
Unrealized foreign exchange gains			(7,150	)			(949	)
Realized loss on foreign currency contracts not designated for hedge accounting			3,036				—
Postretirement benefit plan curtailment gain			(25,321	)			—
Write-off of unamortized costs associated with early extinguishment of debt			6,570				16,051
Amortization of deferred debt issuance costs			2,816				5,281
Stock-based compensation			1,928				—
Allowance for doubtful accounts			(387	)			(1,041	)
Change in operating assets and liabilities:
Trade receivables			96,719				166,370
Inventories			809				28,396
Other current assets			12,735				(9,175	)
Other non-current assets			(7,144	)			(31,449	)
Accounts payable and other accrued liabilities			(67,022	)			(40,366	)
Income tax liabilities			42,764				23,860
Restructuring liabilities			(2,046	)			1,585
Accrued salaries, wages and employee benefits			(85,617	)			(63,595	)
Long-term employee related benefits			(18,538	)			(16,223	)
Other long-term liabilities			(1,838	)			(456	)
Other, net			582				(1,665	)
Net cash provided by operating activities			126,416				200,554
Cash Flows from Investing Activities:
Purchases of property, plant and equipment			(30,200	)			(27,492	)
Proceeds from sale of property, plant and equipment			500				1,804
Acquisition of retail stores			(2,502	)			(1,213	)
Foreign currency contracts not designated for hedge accounting			(3,036	)			—
Net cash used for investing activities			(35,238	)			(26,901	)
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt			322,563				475,690
Repayments of long-term debt			(380,845	)			(491,875	)
Net decrease in short-term borrowings			(1,832	)			(2,544	)
Debt issuance costs			(1,219	)			(11,916	)
Restricted cash			(8	)			1,514
Dividends to minority interest shareholders of Levi Strauss Japan K.K.			(3,141	)			—
Net cash used for financing activities			(64,482	)			(29,131	)
Effect of exchange rate changes on cash			1,005				2,849
Net increase in cash and cash equivalents			27,701				147,371
Beginning cash and cash equivalents			279,501				239,584
Ending cash and cash equivalents		$	307,202			$	386,955
Supplemental disclosure of cash flow information:
Cash paid during the period for:
Interest		$	108,227			$	112,534
Income taxes			19,352				42,753

The notes accompanying our consolidated financial statements in our Form 10-Q are an integral part
of these consolidated financial statements.