Disclosure of shareholdings and formation of a group, as required by Swiss stock exchange regulation

According to a statement from July 14, 2009 the following group members:

a) Georg von Opel, Altenbachstrasse 7a, 8832 Wollerau
b) Hansa Aktiengesellschaft, Blegistrasse 11a, 6340 Baar
c) Paramount-Finanz AG, Blegistrasse 11a, 6340 Baar
d) Growth Value Opportunities SA, route des Acacias 43, 1227 Carouge
e) Growth Value Securities Ltd., c/o Walkers SPV Limited, Walker House, 87 Mary Street, George Town, Grand Cayman, KYI-9002 Cayman Islands
f) Pelham Investments AG, Blegistrasse 11a, 6340 Baar
g) Athris Holding AG, Poststrasse 12, 6301 Zug

announced that, as of July 14, 2009, its holdings in registered shares of Valora Holding AG are 93’429 shares which corresponds to 3.37%. Type of agreement: group agreement on majority voting.

The contact person responsible for the representation of all group members is: Michael Küssner, GVO Asset Management AG, Neuhausen.