Disclosure of shareholdings as required by Swiss stock exchange regulation

According to a statement it made on July 14, 2009 Lombard Odier Darier Hentsch Fund Managers SA (LODHFM), Avenue des Morgines 2, 1213 Petit-Lancy, Switzerland, informed that they hold on July 9, 2009 through its funds LODH Swiss Cap (ex-SMI) (49'982 shares / 1.51%), CIFOPI Actions Suisses (4'045 shares / 0.12%), IF IST2 Actions Suisses Val. Compl. (41'962 shares / 1.27%), IS Valiant Swiss Equities SPI Index + (800 shares / 0.02%), IF IST2 Actions Suisses SPI Plus (650 shares / 0.02%) as well as LODH Opportunity Swiss Small & Mid Cap (940 shares / 0.03%), total shareholdings in registered shares of Valora Holding AG of 98’379 shares which corresponds to 2.98%.

The contact person is Isabelle Sicuranza, Lombard Odier Darier Hentsch Fund Managers SA (LODHFM), Petit-Lancy, Switzerland.