Bondholders Approve Jelmoli Proposal

Corporate news announcement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this
announcement.
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Holders of the two outstanding bonds issued by Jelmoli Holding AG
("Jelmoli"), with the
principal amounts of CHF 175 million and CHF 200 million, approved
proposals whereby,
if shareholders vote for the distribution of a special dividend as a
key element of the
proposed Strategic Plan for the Company, no request would be made by
bondholders for
repayment of the two bonds ahead of schedule. In exchange, Jelmoli
agreed to adjust the
coupon on each bond and will pay interest of 4.25 % p.a. (for the 4 %
bond maturing July
5, 2011) and 4.625 % p.a. (for the 3 1/8 % bond maturing July 11,
2013) under the
condition and starting with the distribution of the special dividend.

Bondholders approved the proposals put to them at today's meetings by
significant
majorities. Shareholders will vote on the Strategic Plan at an
Extraordinary General
Meeting on January 23rd, 2009.

At today's bondholders' meeting for the CHF 175'000'000 4 % bonds
issued by Jelmoli
and maturing on July 5, 2001, bondholders were representing CHF
66'465'000 or 37.98 %
of the capital. 99 % of the represented capital approved the
proposal. At the bondholders'
meeting for the CHF 200'000'000 3 1/8 % bonds issued by Jelmoli and
maturing July 11,
2013, bondholders were representing CHF 48'325'000 or 24.16 % of the
capital. In this
vote, 81.61 % of the represented capital approved the proposal.

Christopher Chambers, Chairman of Jelmoli's Board of Directors,
welcomed the
bondholders' decision, following the successful negotiations for the
refinancing of the US
Private Placement before Christmas. "We now look forward to the
Extraordinary General
Meeting on January 23rd, 2009, at which the Strategic Plan will be
presented to
shareholders for final approval."

Contact person
Media: Dr. Jörg Neef, Hirzel. Neef. Schmid. Konsulenten
+41 79 405 56 32, eMail: joerg.neef@konsulenten.ch
Internet: www.jelmoliholding.ch / www.huginonline.ch/JEL
WAP mobile: wap.huginonline.com (Press Releases Jelmoli)
E-mail: info@jelmoliholding.ch

This media information contains forward looking statements which
express intentions, estimates, expectations and forecasts
relating to future financial, operational and other developments and
results. Such statements and the underlying
assumptions are subject to a variety of risks, uncertainties and
other factors which could mean that the actual developments
may significantly differ therefrom. Shareholders should further note
that even if the general meeting approves the
transaction, the consumption of the transaction may fail, in full or
in part, or may be delayed, for example if resolutions are
challenged or if necessary approvals were not granted. In view of
these uncertainties, readers of this media information are
cautioned not to place undue reliance on such forward looking
statements.
This document does not contain or constitute an offer to sell or a
solicitation of any offer to buy securities in the United
States or in any other jurisdiction in which such offer or
solicitation is not authorized or to any person to whom it is
unlawful
to make an offer or solicitation. The securities have not been and
will not be registered under the United States securities
laws and may not be offered or sold in the United States.

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