The offer price for Dufry s planned IPO and listing on the SWX Swiss Exchange has been set at CHF 80.00 per share and the base offering size has been fixed at 4 072 250 shares. The shares will commence trading today.

Dufry Ltd. has launched the initial public offering (IPO) of its shares in Switzerland with the publication of the preliminary offering memorandum and the start of a two-week road show. The price range for registered shares being offered in the IPO will be CHF 75 to CHF 85 per share. The offering period will start on November 22 and is expected to end on December 5, 12.00 noon CET. The first day of trading on the SWX Swiss Exchange (SWX) is planned for December 6, 2005.

Dufry, one of the world's leading global travel retailers with headquarters in Basel (Switzerland), is planning to list on the Swiss Exchange (SWX) through an initial public offering (IPO).

Basel, October 27th, 2005 / Dufry is proud to announce that it has signed a 5-year contract to operate a large Duty Free shopping area at the airport of Mexico City. The enormous 1'800m2 commercial gallery in the departure zone will cater to every passenger's need with duty free and fashion shops, cafés and food corners.

Basel, October 10th, 2005 / Dufry has come to an agreement with Carnival Corporation for the exclusive operation of a Duty Free shop at the seaport of Grand Turk island in the Caribbean. The contract runs for ten years, marking an important step in the global strategy of Dufry.

Dufry, one of the world's leading global travel retailers reports a turnover of CHF 425.3 million for the first half year which marks an increase of 7.7% compared to 2004. EBITDA came in at CHF 40.1 million resulting in an increase by 30.7% over last year.

DUFRY has come to an agreement with ONDA, l'Office National des Aéroports, to develop and operate commercial areas in Morocco for the next 20 years. This strategic development strengthens Dufry's presence on the African continent and puts a strong focus on Morocco with the opening of new Duty Free shops in Agadir, Casablanca and Marrakech.

The DUFRY Group has appointed Mr. Frank Brouwers as the Human Resources Manager for Dufry globally, starting September 1st, 2005.

DUFRY, the duty free operator at Sharjah International Airport has opened the first phase of its Main Duty Free shop on June 21, 2005 after two months of renovation. The inauguration of the new shop was attended by His Excellency Sheikh Abdulla Bin Mohammad Al Thani – Chairman of Sharjah Civil Aviation, Dr. Ghanem Al Hajri – Director General of Sharjah Airport Authority & Department of Civil Aviation, Mr. Abdulwahab Al Roomi – Director of Civil Aviation, Mr. Adel Ali – Air Arabia CEO, Mr. Julian Diaz – DUFRY Group CEO, Mr. José Antonio Gea – DUFRY Group Global Chief Operation Officer and the press.

DUFRY is pleased to announce the arrival of Mr. Manuel Lallana as Director Logistics.

DUFRY is pleased to announce the arrival of Ms. Pilar Cano as Marketing Director. In this newly created position Pilar Cano will be responsible for all Marketing related activities within the DUFRY Group. She will oversee the Commercial Communication and Research, develop and implement the new brand image as well as the promotional campaigns and furthermore establish the Customer Service department.

"Dufry Group acknowledges the result (announced Monday, 21 March by the CNMV) of the Offer process for Aldeasa, upon reaching the Envelope Stage, in accordance with the Spanish law and market regulatory body, the CNMV.

DUFRY is pleased to announce the promotion of Miguel Angel Martinez as new Chief Operating Officer of the Region Africa. Miguel Angel Martinez takes over this position as of 1st March 2005.

On February 4, DUFRY officially opened two new Bijoux Terner shops at the airport of Rome Fiumicino. Both Duty Paid shops carry the classic Bijoux Terner collection consisting of a beautiful selection of accessories including watches, pashminas, jewellery sets consisting of necklaces & earrings, scarves, belts, bags, straw hats, sunglasses and wallets; all being on offer for a price of 12 Euros.

The DUFRY Group has appointed Alberto Iglesias as Director Retail Operations. In his new position he will be responsible for the coordination and implementation of the Operational Plan in the Group. Alberto will work in close collaboration with the regional Deputy Chief Operating Officers and the Regional Category Managers to standardize the management procedure of our shops.

DUFRY officially opened its Computer & Software shop at Singapore Changi airport on 13th January 2005.

DUFRY officially opened its Bijoux Terner shop at Singapore Changi airport. The Bijoux Terner Luxury shop offers an exciting assortment of watches, jewelry, pashminas, sunglasses, bags and more.