Disclosure of shareholdings as required by Swiss stock exchange regulation

According to a statement it made on August 10, 2009 Pictet Funds S.A., Route des Acacias 60, 1211 Genève, Switzerland through their funds Pictet (CH) Enhanced (0.14%), Pictet (CH) Swiss Market Tracker (0.14%), Pictet (CH) Swiss Mid Small Cap (0.86%), Pictet (CH) Swiss Equities (0.50%), Pictet Institutional Swiss Equities (1.25%), Pictet Institutional Swiss Equities Tracker (0.10%), Pictet Institutional - Pool Swiss Equities (0.02%), Ethos - Equities CH Indexed Corporate Governance (0.10%), Subenimus Institutional Fund (0.01%) informed that they increased its total shareholdings in registered shares of Valora Holding AG to 3.12% (87’256 registered shares) on August 7, 2009. The contact person is Michel Sermet, Pictet Funds S.A., Route des Acacias, 1211 Genève, Switzerland.