Disclosure of shareholdings as required by Swiss stock exchange regulation

According to a statement it made on November 10, 2009 Lombard Odier Darier Hentsch Fund Managers SA (LODHFM), Avenue des Morgines 2, 1213 Petit-Lancy, Switzerland, informed that they hold on November 9, 2009 through its funds LODH Swiss Cap (ex-SMI) (39’864 shares / 1.42%), CIFOPI Actions Suisses (1’944 shares / 0.07%), IF IST2 Actions Suisses Val. Compl. (38'962 shares / 1.39%), IS Valiant Swiss Equities SPI Index + (876 shares / 0.03%) and IF IST2 Actions Suisses SPI Plus (650 shares / 0.02%) total shareholdings in registered shares of Valora Holding AG of 82’296 shares which corresponds to 2.94%.
The contact person is Isabelle Sicuranza, Lombard Odier Darier Hentsch Fund Managers SA (LODHFM), Petit-Lancy, Switzerland.