Jelmoli (VTX:JEL) Rise In Turnover And Rental Income Despite Market Downturn

Jelmoli (VTX:JEL) Corporate news announcement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- -------------- Higher turnover in all Jelmoli Group segments



Despite increasingly difficult market conditions, Jelmoli Retail Trade (House of Brands, Geneva hotel) recorded a 1.5% rise in overall annual turnover as of the fourth quarter 2008 per unchanged floor area.

Overall turnover of the House of Brands (Jelmoli Zurich shopping center including third-party tenants) was again considerably higher (+2.2%) than the excellent prior year level.

Jelmoli specialty businesses (Molino, Seiler, Beach Mountain, Fashion Bazaars) closed the year with 51.9% higher turnover.

This steep rise is attributable to the Seiler Group hotel operations, included for the first time in the annual accounts, and to the three profitable new Molino Restaurant openings in Geneva (Lacustre, Thônex) and Zermatt. Comparable turnover for the year, adjusted for expansion and restructuring, rose by 2.2%.

Moreover the phased closure of all Jelmoli Fashion Bazaar stores, completed per year-end, again brought significantly higher liquidation proceeds.

Higher rental income thanks to new openings Jelmoli Real Estate (Swiss real estate portfolio not including Seiler Hotels) rental income for the year rose overall by 13.1% to CHF 172.3 million.

About two thirds of this rental income increase is attributable to the St. Gall Shopping Arena opened in March 2008 (main tenant Coop not until June pending decision by antitrust commission).

The district shopping center in Thônex (Geneva) was likewise opened as planned in September 2008.

Adjusted for expansion effects and additional rental income from the Sihlstrasse Zurich property (re-opened in the 2nd quarter 2007), the comparative rise is still significant at 3.5%.

This rise is also attributable in the main to higher turnover-linked rentals.

Third-party rental income among the specialty businesses likewise rose substantially due to the first-time inclusion of Seiler Group hotel operations in the annual accounts.

Contact persons

Media: Daniel Gfeller, Secretary General Tel. +41 (0)44 220 42 29 Fax +41 (0)44 220 40 10 Analysts: Roland Walder, CFO Tel. +41 (0)44 220 44 26 Fax +41 (0)44 220 40 10 Internet: www.jelmoliholding.ch / www.huginonline.ch/JEL WAP mobile: wap.huginonline.com (Press Releases Jelmoli) E-mail: info@jelmoliholding.ch

Details of Jelmoli Group turnover and rental income 2008

Key figures 2008 2007 Change from prior year in million CHF nonadjusted comparable Turnover Jelmoli 180.3 177.7 +1.5 % (House of Brands, Hotel Geneva) Speciality businesses 121.4 79.9 +51.9 % +2.2 % 1) (Molino/BeachMountain/ Seiler/Fashion Bazaars)

Rental income (total including own rentals) Jelmoli Group 172.3 152.4 +13.1 % +3.5 % 2) Speciality businesses 5.3 0.9 3)

1) New Molino Restaurant openings in Zermatt (Seiler building) and Geneva (Lacustre and Thônex) Molino Restaurant closure in Brig (May 2007) Hotel operations in Zermatt (Seiler acquisition per beginning of November 2007) Closure of all Fashion Bazaars during 2008

2) St. Gall Shopping Arena opening per end of 1st quarter 2008 Geneva (Thônex) shopping center opening in 3rd quarter 2008 Sihlstrasse Zurich property re-opening in 2nd quarter 2007 Sale of two small properties (Orbe and Vallorbe) per 2nd quarter 2008.

3) Seiler Hotel Group acquisition per beginning of November 2007

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



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Jelmoli

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

ISIN: CH0000668464

Stock Identifier: XSWX.JEL

US: JMLIF.PK