Media release

Gaydoul Group acquires Fogal

Gaydoul Group is taking over Fogal, the premium international brand for
stockings, tops, socks and lingerie. The family that owns Fogal, led by
Balthasar Meier, has decided to solve its succession planning issues by
selling Fogal to the Gaydoul Group. The parties have agreed not to disclose
the purchase price.

"Buying the small global brand Fogal marks an important expansion of Gaydoul
Group's portfolio of holdings. Fogal has great international potential and has a
similar positioning in the lifestyle segment to Navyboot, which we already own.
Fogal's owner Balthasar Meier and I share a similar approach to business," said
Philippe Gaydoul, Chairman of the Board of Directors of the Gaydoul Group at a
press conference in Zurich today.

The Gaydoul Group has agreed with the family that owns Fogal, led by Balthasar
Meier, that it will acquire 100 percent of Fogal AG. Over its 80-year history Fogal
has developed from a nylon stockings pioneer into a premium brand for
stockings, tops and lingerie. Fogal operates in the uppermost quality segment,
and its pricing reflects this. Over the years the brand has built up a very high
degree of brand awareness on the international market.

Fogal currently sells its products in 22 countries through 23 of its own stores, as
well as through first-class partners like Globus, J elmoli, KaDeWe (Berlin),
Harrods and Fenwick (London), Le Bon March (Paris) and TSUM (Moscow). Its
own shops and stores account for 85% of sales.

Geographically, the sales generated by international premium brand Fogal break
down as follows: its home market of Switzerland contributes about a third, the
USA 15%, J apan 11%, Germany 10%, France 9% and the UK 7%. Outlets in
other countries around the world account for the remaining 15%. Fogal's own
stores include some in prime locations in New York, London, Paris, Hong Kong
and Tokyo.

Its product range continues to concentrate mainly on stockings, which account for
58% of sales. Thanks to targeted verticalization, 18% of sales are generated by
bodywear, 11% by socks, 8% by lingerie and 5% by various items.

Fogal's owner Balthasar Meier said the following about the transaction: "In the
course of my long-term succession planning, the time has come to pass my life's
work on to younger hands. This is not easy for me, but Fogal has a very
promising future with Philippe Gaydoul and his investment group. This is why
Gaydoul Group was chosen from the numerous potential buyers who showed an
interest."

The development of the Fogal brand continues on four different levels. Firstly,
distribution is being expanded. New outlets are being set up nationally and
internationally and existing stores are being given a design overhaul. On the
wholesale side, more partnerships are being sought with premium department
stores in order to establish shop-in-shop concepts.
Secondly, the rhythm of releasing two collections a year is being increased to
four a year. Thirdly, the organizational structure is being strengthened. Fourthly,
communication is being intensified by developing a tangible brand image and
brand experience.

This package of measures is designed to secure sustainable, profitable growth
for Fogal and ensure the company lives up to the strong image of its brand. Like
the Navyboot Group, Fogal will be managed as an independent holding under the
Gaydoul Group umbrella.






Zrich/Bch, 20 October 2009

Contact:

Gaydoul Group and Fogal AG:
J rg Neef
Hirzel.Neef.Schmid.Konsulenten AG
Tel.: +41 43 344 42 42
E-mail: joerg.neef@konsulenten.ch