LEVI STRAUSS & CO.

                                SECOND AMENDMENT
                  TO BRIDGE CREDIT AGREEMENT AND LIMITED WAIVER


                  This SECOND  AMENDMENT TO BRIDGE CREDIT  AGREEMENT AND LIMITED
WAIVER (this  "AMENDMENT") is dated as of September 29, 2000 and entered into by
and among Levi Strauss & Co., a Delaware corporation ("COMPANY");  the financial
institutions  party hereto  ("BANKS");  Bank of America,  N.A. as Administrative
Agent  for  Banks  ("ADMINISTRATIVE  AGENT");  and  Bank  of  America,  N.A.  as
Collateral Agent for Banks ("COLLATERAL  AGENT"),  and is made with reference to
that certain Bridge Credit Agreement dated as of January 31, 2000, as amended by
First  Amendment to Bridge Credit  Agreement and Limited Waiver dated as of July
31, 2000 (the "CREDIT  AGREEMENT"),  by and among  Company;  Banks;  the several
financial  institutions  party thereto as Co-Syndication  Agents;  the financial
institution  party thereto as  Documentation  Agent;  Administrative  Agent; and
Collateral Agent.  Capitalized  terms used herein without  definition shall have
the same meanings herein as set forth in the Credit Agreement.

                                    RECITALS

                  WHEREAS, Company and Banks desire to amend the Credit Agree-
ment as set forth below; and

                  WHEREAS,   Company  has  requested   Banks  to  waive  certain
provisions of the Credit Agreement as set forth below.

                  NOW,  THEREFORE,  in  consideration  of the  premises  and the
agreements,  provisions and covenants herein contained, the parties hereto agree
as follows:

                  SECTION 1.        AMENDMENTS TO THE CREDIT AGREEMENT

                  1.1      AMENDMENTS TO ARTICLE VI: AFFIRMATIVE COVENANTS
                           -----------------------------------------------

                  A.       Sections 6.11(a)(ii) and 6.11(a)(iii) of the Credit
Agreement are hereby amended to read in their entirety as follows:

                           "[intentionally omitted]"

                  B.       Section 6.11(c) of the Credit Agreement is hereby
amended to read in its entirety as follows:

                  "Derivative/FX  Contracts.  Company  shall use its  reasonable
                  -------------------------
efforts to deliver to Administrative  Agent executed copies of amendments to the
existing master agreements pursuant to which Lender Derivative/FX  Contracts are
issued  providing  that the  obligations  of  Company  and  FinServ  under  such
agreements will be secured by the Collateral Documents."

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                  1.2      AMENDMENTS TO ARTICLE VII:  NEGATIVE COVENANTS
                           ----------------------------------------------

                  A.       Section 7.1(f) of the Credit Agreement is hereby
amended by deleting the reference to "$5,000,000" contained therein and
substituting "$25,000,000" therefor.

                  B.       Section 7.1(t) of the Credit Agreement is hereby
amended by deleting the reference to "$5,000,000" contained therein and
substituting "$10,000,000" therefor.

                  C.       Section 7.2(r) of the Credit Agreement is hereby
amended by deleting the reference to "$2,000,000" contained therein and
substituting "$10,000,000" therefor.

                  D.       Section 7.2 of the Credit Agreement is hereby amended
by (i) deleting the word "and" at the end of clause (t) thereof;  (ii) deleting
the period at the end of clause  (u)  thereof  and  substituting  the phrase ";
and" therefor; and (iii) adding the following as new clause (v) thereof:

                  "(v) Negative  Pledges with respect to property of Company and
its Subsidiaries  contained in documentation for any Capital Markets Transaction
permitted by Section 7.1(m) provided such Negative  Pledges (i) expressly permit
Liens in favor of  Administrative  Agent  and  Liens  on  equipment  subject  to
Equipment Financing Transactions, real property subject to Real Estate Financing
Transactions,  accounts  receivable  subject to  Permitted  Foreign  Receivables
Purchase  Facilities and property subject to any other Lien permitted by Section
7.2 and (ii) do not  require  the  Securities  issued  in such  Capital  Markets
Transactions to be secured by such permitted Liens."

                  E.       Section 7.3(m) of the Credit Agreement is hereby
amended by deleting the reference to "$2,000,000" contained therein and
substituting  "$10,000,000" therefor.

                  SECTION 2.        WAIVER

                  2.1      WAIVER OF SECTION 6.11(C)
                           -------------------------

                  The undersigned Banks,  constituting  Majority Banks under the
Credit Agreement, hereby waive compliance with the provisions of Section 6.11(c)
of the Credit  Agreement  for the period  commencing  on August 31,  2000 to and
including the date of this Amendment.

                  2.2      LIMITATION OF WAIVER
                           --------------------

                  Without  limiting the  generality of the provisions of Section
10.1 of the  Credit  Agreement,  the waiver  set forth  herein  shall be limited
precisely  as written and relates  solely to a waiver of  compliance  by Company
with the provisions of Section 6.11(c) of the Credit Agreement in the manner and
to the extent  described above, and nothing in this Amendment shall be deemed to
(a)  constitute  a waiver of  compliance  by Company with respect to (i) Section
6.11(c) of the Credit  Agreement  in any other  instance or (ii) any other term,
provision  or  condition  of the Credit  Agreement  or any other  instrument  or
agreement  referred  to  therein  or (b)  prejudice  any  right or  remedy  that
Administrative  Agent,  Collateral Agent or any Bank may now have or may have in
the  future  under or in  connection  with the  Credit  Agreement  or any  other
instrument or agreement referred to therein.

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<PAGE>

                  SECTION 3.        COMPANY'S REPRESENTATIONS AND WARRANTIES

                  In order to induce Banks to enter into this  Amendment  and to
amend the Credit Agreement in the manner provided herein, Company represents and
warrants  to each Bank that the  following  statements  are  true,  correct  and
complete:

                  A.       CORPORATE POWER AND AUTHORITY.  Company has all
requisite  corporate  power and  authority to enter into this  Amendment  and to
carry out the transactions  contemplated by, and perform its obligations  under,
the Credit Agreement as amended by this Amendment (the "AMENDED AGREEMENT").

                  B.       AUTHORIZATION OF AGREEMENTS.  The execution and
delivery of this  Amendment and the  performance  of the Amended  Agreement have
been duly authorized by all necessary corporate action on the part of Company.

                  C.       NO CONFLICT.  The execution and delivery by Company
of this Amendment and the performance by Company of the Amended Agreement do not
and  will  not (i)  violate  any of its  Organization  Documents  or any  order,
judgment  or decree  of any court or other  Governmental  Authority  binding  on
Company,  (ii) conflict with, result in a breach of, constitute a default under,
or require the  termination of, any  Contractual  Obligation of Company,  except
where such conflicts,  breaches,  defaults and  terminations,  in the aggregate,
would  not have a  Material  Adverse  Effect,  (iii)  result in or  require  the
creation  or  imposition  of any Lien of any nature  whatsoever  upon any of the
properties  or  assets  of  Company  (other  than  pursuant  to  the  Collateral
Documents)  or (iv)  require any  approval of  stockholders  or any  approval or
consent of any Person under any  Contractual  Obligation of Company except where
the failure to obtain such  approvals and consents  would not, in the aggregate,
have a Material Adverse Effect.

                  D.       GOVERNMENTAL CONSENTS.  The execution and delivery by
Company  of this  Amendment  and  the  performance  by  Company  of the  Amended
Agreement do not and will not require any registration with, consent or approval
of, or notice to, or other action to, with or by, any Governmental Authority.

                  E.       BINDING OBLIGATION.  This Amendment and the Amended
Agreement  have been duly  executed and delivered by Company and are the legally
valid and  binding  obligations  of  Company,  enforceable  against  Company  in
accordance with their respective terms,  except as enforcement may be limited by
bankruptcy, insolvency,  reorganization,  moratorium or similar laws relating to
or limiting  creditors' rights generally or by equitable  principles relating to
enforceability,  whether  enforcement  is  sought in a  proceeding  at law or in
equity.

                  SECTION 4.        MISCELLANEOUS

                  A.       REFERENCE TO AND EFFECT ON THE CREDIT AGREEMENT AND
THE OTHER LOAN DOCUMENTS.

                  (i)      On and after the date hereof, each reference in the
         Credit Agreement to "this  Agreement",  "hereunder",  "hereof",
         "herein"  or words of like import  referring to the Credit  Agreement,
         and each  reference in the other Loan Documents to the "Credit
         Agreement", "thereunder", "thereof" or words of like import  referring
         to the Credit  Agreement  shall mean and be a reference to the Amended
         Agreement.

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<PAGE>

                  (ii)     Except as specifically amended by this Amendment, the
         Credit  Agreement  and the other Loan  Documents  shall  remain in full
         force and effect and are hereby ratified and confirmed.

                  (iii)    The  execution, delivery  and   performance  of  this
         Amendment shall not, except as expressly provided herein,  constitute a
         waiver of any provision of, or operate as a waiver of any right,  power
         or remedy of Administrative Agent,  Collateral Agent or any Bank under,
         the Credit Agreement or any of the other Loan Documents.

                  B.       GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY,
AND  CONSTRUED IN  ACCORDANCE  WITH,  THE INTERNAL LAWS OF THE STATE OF NEW YORK
(INCLUDING  SECTION  5-1401 OF THE GENERAL  OBLIGATIONS  LAW OF THE STATE OF NEW
YORK), WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES.

                  C.       COUNTERPARTS;  EFFECTIVENESS. This Amendment may be
executed  in any  number of  counterparts  and by  different  parties  hereto in
separate  counterparts,  each of which when so executed and  delivered  shall be
deemed an original,  but all such counterparts together shall constitute but one
and the same instrument;  signature pages may be detached from multiple separate
counterparts  and attached to a single  counterpart so that all signature  pages
are  physically  attached to the same  document.  This  Amendment  shall  become
effective  upon the  execution of a  counterpart  hereof by Company and Majority
Banks and receipt by Company and  Administrative  Agent of written or telephonic
notification of such execution and authorization of delivery thereof.



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<PAGE>


                  IN WITNESS  WHEREOF,  the  parties  hereto  have  caused  this
Amendment  to be duly  executed  and  delivered  by  their  respective  officers
thereunto duly authorized as of the date first written above.

                           LEVI STRAUSS & CO.


                           By:
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                           Title:
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                           BANK OF AMERICA, N.A., as a Bank


                           By:
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                           Title:
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                           THE BANK OF NOVA SCOTIA, as a Co-Syndication Agent
                           and a Bank


                           By:
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                           Title:
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                           CITICORP U.S.A. INCORPORATED,  as a Co-Syndication
                           Agent and as a Bank


                           By:
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                           Title:
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                           MORGAN GUARANTY TRUST COMPANY OF NEW YORK, as
                           Documentation Agent and as a Bank


                           By:
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                           Title:
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                           BANK ONE, N.A., as a Bank


                           By:
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                           Title:
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                           BANK OF AMERICA, N.A., as Administrative Agent


                           By:
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                           Title:
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                           BANK OF AMERICA, N.A., as Collateral Agent


                           By:
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                           Title:
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ACKNOWLEDGED:


BATTERY STREET ENTERPRISES, INC.

By:
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Title:
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LEVI STRAUSS FINANCIAL CENTER
CORPORATION

By:
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Title:
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LEVI STRAUSS FUNDING, LLC

By:
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Title:
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LEVI STRAUSS GLOBAL FULFILLMENT
SERVICES, INC.

By:
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Title:
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LEVI STRAUSS GLOBAL OPERATIONS, INC.

By:
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Title:
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LEVI STRAUSS INTERNATIONAL

By:
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Title:
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LEVI STRAUSS LATIN AMERICA, INC.

By:
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Title:
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LEVI'S ONLY STORES, INC.

By:
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Title:
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NF INDUSTRIES, INC.

By:
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Title:
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