Bondholders Approve Jelmoli (VTX:JEL) Proposal

Jelmoli (VTX:JEL) Corporate news announcement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- -------------- Holders of the two outstanding bonds issued by Jelmoli Holding AG ("Jelmoli"), with the principal amounts of CHF 175 million and CHF 200 million, approved proposals whereby, if shareholders vote for the distribution of a special dividend as a key element of the proposed Strategic Plan for the Company, no request would be made by bondholders for repayment of the two bonds ahead of schedule. In exchange, Jelmoli agreed to adjust the coupon on each bond and will pay interest of 4.25 % p.a. (for the 4 % bond maturing July 5, 2011) and 4.625 % p.a. (for the 3 1/8 % bond maturing July 11, 2013) under the condition and starting with the distribution of the special dividend.



Bondholders approved the proposals put to them at today's meetings by significant majorities. Shareholders will vote on the Strategic Plan at an Extraordinary General Meeting on January 23rd, 2009.

At today's bondholders' meeting for the CHF 175'000'000 4 % bonds issued by Jelmoli and maturing on July 5, 2001, bondholders were representing CHF 66'465'000 or 37.98 % of the capital. 99 % of the represented capital approved the proposal. At the bondholders' meeting for the CHF 200'000'000 3 1/8 % bonds issued by Jelmoli and maturing July 11, 2013, bondholders were representing CHF 48'325'000 or 24.16 % of the capital. In this vote, 81.61 % of the represented capital approved the proposal.

Christopher Chambers, Chairman of Jelmoli's Board of Directors, welcomed the bondholders' decision, following the successful negotiations for the refinancing of the US Private Placement before Christmas. "We now look forward to the Extraordinary General Meeting on January 23rd, 2009, at which the Strategic Plan will be presented to shareholders for final approval."
Contact person Media: Dr. Jörg Neef, Hirzel. Neef. Schmid. Konsulenten +41 79 405 56 32, eMail: joerg.neef@konsulenten.ch Internet: www.jelmoliholding.ch / www.huginonline.ch/JEL WAP mobile: wap.huginonline.com (Press Releases Jelmoli) E-mail: info@jelmoliholding.ch

This media information contains forward looking statements which express intentions, estimates, expectations and forecasts relating to future financial, operational and other developments and results. Such statements and the underlying assumptions are subject to a variety of risks, uncertainties and other factors which could mean that the actual developments may significantly differ therefrom. Shareholders should further note that even if the general meeting approves the transaction, the consumption of the transaction may fail, in full or in part, or may be delayed, for example if resolutions are challenged or if necessary approvals were not granted. In view of these uncertainties, readers of this media information are cautioned not to place undue reliance on such forward looking statements. This document does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in the United States or in any other jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make an offer or solicitation. The securities have not been and will not be registered under the United States securities laws and may not be offered or sold in the United States.

--- End of Message ---

Jelmoli -----------------------------------------
Jelmoli über WAP:
wap.huginonline.com
-----------------------------------------
St. Annagasse 18 Zürich

WKN: 851225; ISIN: CH0000668464; Index: SMCI, SPI, SPIEX; Listed: Main Market in SIX Swiss Exchange;



LINK: http://hugin.info/100248/R/1282916/287143.pdf

Jelmoli

http://www.jelmoli-holding.ch/

ISIN: CH0000668464

Stock Identifier: XSWX.JEL

US: JMLIF.PK