07.01.2008 – 07:05

Valora Holding AG

euro adhoc: Valora Holding AG
other
Valora: Three new directors for Valora

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.

E.G.M.

07.01.2008

The Board of Directors of Valora Holding AG is proposing that Conrad 
Löffel, Rolando Benedick and Markus Fiechter be elected as members of
the Board of Directors at the Extraordinary General Meeting. However 
it is opposed to the election of Adriano Agosti and Geltrude Renzi.

The Extraordinary General Meeting (E.G.M.) of Valora shareholders 
will take place on Wednesday 30th January in Bern. The only item on 
the agenda will be the expansion of the Board of Directors (BoD). The
Valora Board proposes three candidates for election: besides Rolando 
Benedick and Markus Fiechter who were already nominated in December, 
it is adding Conrad Löffel. The BoD remains opposed to the election 
of Adriano Agosti and asks shareholders not to support the 
candidature of Geltrude Renzi because other members of the board 
already posses the particular skills offered by these candidates.

Conrad Löffel is a finance specialist with an excellent track record 
and capital markets experience. The 61 year-old Swiss from Basel is 
an Auditor (Fed. Dipl.) who retired one year ago from the Board of 
Directors and the Audit Committee of Ernst and Young AG. Prior to 
that, he was Chief Financial Officer (CFO) and a member of the 
Management of Danzas and Kuoni. Fiechter (51) is Chief Executive 
Officer (CEO) of Jacobs Holding AG. Ronaldo Benedick (61) is 
president of the BoD of the Manor Group and was their CEO until the 
end of 2007. The new Valora Board will elect its president in a 
constitutional meeting that will be held immediately after the E.G.M.

"With the election of Benedick, Fiechter and Löffel, the Valora BoD 
will have a spectrum of skills that cover all its fields of business.
It also sends a clear signal that it is open to strategic renewal on 
the basis of in-depth analysis" explained Beatrice Tschanz Kramel, 
interim President of the BoD. "Valora is a healthy corporation with a
solid foundation. The disappointments of the past half-year will not 
be repeated. The Group has worked effectively during the second half 
of the year".

The BoD of Valora remains opposed to the candidacy of Adriano Agosti 
on the grounds that it would lead to an over-representation of a 
single shareholder. Agostis Investment Fund claims to own 4% of 
Valora´s shares. The BoD of Valora believes that the double role as a
fund manager and member of the Board would create potential conflicts
of interest and corporate governance issues that must be avoided.

Geltrude Renzi is proposing herself as a candidate. Her retail and 
wholesale expertise is however, already well covered by other members
of the Board.

In order to assess the various candidates, the Valora BoD spoke to 
numerous smaller and larger shareholders over the past few weeks. 
These conversations seemed to confirm the view that the planned 
changes to the BoD make good sense and that the BoD is backing the 
right candidates.

end of announcement                               euro adhoc

Further inquiry note:

Media Relations:
Stefania Misteli
Fon +41 58 789 12 01
Mobile +41 79 467 52 16
E-Mail stefania.misteli@valora.com

Investor Relations:
Stefan Knuchel
Fon +41 58 789 12 20
Mobile +41 79 430 52 45
E-Mail stefan.knuchel@valora.com

Branche: Retail
ISIN: CH0002088976
WKN: 208897
Börsen: SWX Swiss Exchange / official market
BX Berne eXchange / official dealing