Jelmoli (VTX:JEL) And Tivona Shareholders Settle Outstanding Litigation

Jelmoli (VTX:JEL) Corporate news announcement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- -------------- Jemoli Holding Ltd ("Jelmoli") announces today that it has signed a definitive agreement with the other shareholders in Tivona AG ("Tivona"), whereby Jelmoli will acquire the remaining 55.5% stake in Tivona for CHF 60 million in cash and 80,000 shares. As a result of this agreement, all outstanding claims and counterclaims between the parties will be settled. The transaction is subject to certain closing conditions and is expected to be completed in the first quarter of 2009.



Tivona, a Swiss real estate company focussing on commercial retail properties such as large shopping centers and specialized discount stores, has been the subject of arbitration proceedings between Jelmoli and other Tivona shareholders since 2004. For further details we refer to the description in note 7 of the Jelmoli 2008 half year report as of 16 September 2008 (www.jelmoliholding.ch) and earlier communications.

Tivona will further enhance Jelmoli's position as the second largest public real estate company in Switzerland and is expected to increase the market value of the Jelmoli property portfolio to around CHF 4.1 billion. Tivona further emphasizes Jelmoli's focus on retail space and provides additional upside from high quality development projects, such as the completion of the shopping center in Stuecki.

"Tivona fits well with Jelmoli and in reaching this agreement on the Tivona litigation, a major factor of uncertainty for Jelmoli and its shareholders will be lifted," added Christopher Chambers, Chairman of the Board of Directors.

Contacts

Media: Dr. Jörg Neef, Hirzel. Neef. Schmid. Konsulenten +41 79 405 56 32, E-mail: 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. Investors should also note that the described transaction may fail, in full or in part, or may be delayed. In view of these uncertainties, readers of this media information are cautioned not to place undue reliance on such forward looking statements.

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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