Jelmoli and Tivona Shareholders Settle Outstanding Litigation

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Jemoli Holding Ltd ("Jelmoli") announces today that it has signed a
definitive agreement with the other shareholders in Tivona AG
("Tivona"), whereby Jelmoli will acquire the remaining 55.5% stake in
Tivona for CHF 60 million in cash and 80,000 shares. As a result of
this agreement, all outstanding claims and counterclaims between the
parties will be settled. The transaction is subject to certain
closing conditions and is expected to be completed in the first
quarter of 2009.

Tivona, a Swiss real estate company focussing on commercial retail
properties such as large shopping centers and specialized discount
stores, has been the subject of arbitration proceedings between
Jelmoli and other Tivona shareholders since 2004. For further details
we refer to the description in note 7 of the Jelmoli 2008 half year
report as of 16 September 2008 (www.jelmoliholding.ch) and earlier
communications.

Tivona will further enhance Jelmoli's position as the second largest
public real estate company in Switzerland and is expected to increase
the market value of the Jelmoli property portfolio to around CHF 4.1
billion. Tivona further emphasizes Jelmoli's focus on retail space
and provides additional upside from high quality development
projects, such as the completion of the shopping center in Stuecki.

"Tivona fits well with Jelmoli and in reaching this agreement on the
Tivona litigation, a major factor of uncertainty for Jelmoli and its
shareholders will be lifted," added Christopher Chambers, Chairman of
the Board of Directors.

Contacts

Media: Dr. Jörg Neef, Hirzel. Neef. Schmid. Konsulenten
+41 79 405 56 32, E-mail:
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.
Investors should also note that the described transaction may fail,
in full or in part, or may be delayed. In view of these
uncertainties, readers of this media information are cautioned not to
place undue reliance on such forward looking statements.

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