ESCADA AG

EANS-Adhoc: ESCADA AG: Sale of ESCADA Group's operative business to Megha Mittal

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05.11.2009

Munich, November 5, 2009: Today the insolvency administrator of ESCADA AG signed a sale and transfer agreement with one of the Mittal Family Trusts ("the Trust"). With the execution of the agreement all key assets of ESCADA AG's operative business as well as shares in ESCADA AG's subsidiaries will be transferred to the Trust. Excluded thereof are any subsidiaries, which serve as guarantor for the ESCADA bond. The preliminary creditors' committee has approved the transaction.

The transaction provides for a transfer of ESCADA AG's business operations, including employees as well as worldwide brand rights, production facilities and the sales and distribution structure to the Trust. The Board of Management and the new investor have agreed to cooperate on the basis of the business strategy launched in mid-2008 securing continuity of the operative business. The transaction is subject to customary antitrust approvals.

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ots Originaltext: ESCADA AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Investor Relations
Yara Kes
Tel.:    +49 (0) 89 9944 1336
E-mail: yara.kes@de.escada.com

Wirtschaftsmedien:
Frank Elsner Kommunikation für Unternehmen GmbH
Frank Elsner
Tel.: +49 - 54 04 - 91 92 0
Email: info@elsner-kommunikation.de

Mittal Family:
Nicola Davidson
Phone: +44 7730 671 998

Branche: Clothing
ISIN:      DE0005692107
WKN:        569210
Index:    CDAX, Classic All Share, Prime All Share
Börsen:  Berlin / Open Market
              Hamburg / Open Market
              Stuttgart / Open Market
              Düsseldorf / Open Market
              Frankfurt / regulated dealing/prime standard
              München / regulated dealing



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