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

Disclosure of shareholdings

14.01.2008

On 14.01.2008 UBS Fund Management (Switzerland) AG, Postfach, CH-4002
Basel, Switzerland announced that on 10.01.2008 it has held a total 
of 173'604 registered shares of Valora Holding AG, corresponding to 
5.26% of total voting rights outstanding. UBS Fund Management 
(Switzerland) AG´s aggregate holdings in Valora Holding AG shares 
thus corresponds to 5.26% of all outstanding voting rights. The 
contact person responsible for reporting this holding is Angela 
Lunginovic, EUR1 - 3.2315 WNGW-LB6, Postfach, 8098 Zürich.

end of announcement                               euro adhoc

Further inquiry note:

Valora Holding AG
Belpstrasse 37
3007 Bern
Switzerland

Investor Relations:
Stefan Knuchel
Tel: +41 58 789 12 20
E-Mail: stefan.knuchel@valora.com

or

Media Relations:
Stefania Misteli
Tel: +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