ESCADA AG

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

-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 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. end of announcement euro adhoc -------------------------------------------------------------------------------- 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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