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Valora Holding AG

euro adhoc: Buybacks
Valora initiates share buyback programme

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
01.07.2008
- Process of focussing on core activities now well advanced following
sale of four production entities - Additional cash generated to be 
returned to shareholders - Share buyback via SWX 2nd trading line to 
commence on July 1, 2008
Valora is to reduce its issued share capital by initiating the share 
buyback programme covering up to 500,000 registered shares which was 
approved by shareholders at the General Meeting on April 29, 2008. 
The 500,000 shares represent 15.2% of the firm´s issued share capital
and of its voting shares. The buyback will be carried out via a 2nd 
trading line on the SWX Swiss Exchange which will open on July 1, 
2008 and will be maintained until December 31, 2009 at the latest. 
The price at which shares will be bought back through the second 
trading line will be determined by those paid for Valora registered 
shares trading through the main exchange listing.
At subsequent General Meetings, the Board of Directors will propose 
that the shares bought through this process be destroyed and the 
issued share capital reduced accordingly.
This share buyback and its attendant reduction in the firm´s issued 
share capital underscore the intention of Valora Holding AG´s Board 
of Directors to ensure that liquidity is effectively deployed and 
capital efficiently managed. In the words of Board Chairman Rolando 
Benedick "The Board is convinced that this initiative is both 
shareholder friendly and appropriately timed."
end of announcement                               euro adhoc

Further inquiry note:

Stefania Misteli
Phone: +41 58 789 12 01
E-mail: stefania.misteli@valora.com

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

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