In the first nine months of 2008, Dufry’s turnover grew by 14.6%, while EBITDA (before other operational result) grew by 27.7% before currency translation effects. Organic growth reached 9.3% and EBITDA margin improved by 1.1 percentage points to 13.7% from 12.6% in the corresponding period of the previous year.

On October 23, 2008, Dufry Ltd has been notified by Hudson Media Inc., One Meadowlands Plaza, Suite 902, East Rutherford, NJ 07073, USA pursuant to art. 20 of the Federal Act on Stock Exchange and Securities Trading (“SESTA”). Hudson Media Inc. is controlled by James Cohen, c/o Hudson Media Inc., One Meadowlands Plaza, Suite 902, East Rutherford, NJ 07073, USA.

On 15 October, 2008, Dufry closed the merger agreement which was signed on 3 September, 2008, with Hudson Group Holdings, Inc (Hudson), following receipt of required regulatory approvals. As planned when the merger was announced, the execution of the transaction consisted of a share swap and the refinancing of Hudson’s debt.

On 3 September, 2008, Dufry signed a merger agreement with Hudson Group, the premier travel retailer in North America, which is majority owned by private equity firm Advent International. In 2007, Hudson generated a turnover of USD 666 million and EBITDA of USD 85 million.

The transaction will include an exchange of shares of Hudson Group’s common stock into Dufry equity, as well as the full refinancing of existing debt. Following the transaction, Advent, which manages separate funds which control Travel Retail Investments SCA (TRI), the controlling shareholder of Dufry, will continue to control Dufry. Dufry will directly own 100% of Hudson.

In the first six months of 2008, Dufry’s Turnover increased by 15.3% and EBITDA (before other operational result) grew by 31.4% before currency effects. After translation into Swiss Franc, turnover grew by 4.2% to CHF 934.8 million in the first half of 2008 from CHF 896.9 million in the respective period of 2007 and EBITDA (before other operational result) rose by 14.8% to CHF 121.6 million compared to CHF 105.9 million respectively, resulting in an EBITDA margin increase of 1.2 percentage points to 13.0% from 11.8%.

Dufry’s turnover in the first three months of 2008 rose by 18.4% before currency effects. After translation into Swiss Franc, turnover grew by 7.9% to CHF 449.9 million from CHF 416.9 million in the respective period of 2007. EBITDA (before other operational result) grew by 20.2% to CHF 50.1 million, compared to CHF 41.7 million in the first three months of 2007. EBITDA margin improved by 1.1 percentage points to 11.1% from 10.0% in the corresponding period of the previous year.

Dufry’s turnover rose by 34% to CHF 1,930.3 million in 2007 from CHF 1,436.3 million in 2006. EBITDA (before other operational result) soared by 62% to CHF 259.3 million, compared to CHF 160.5 million in 2006. EBITDA margin improved by 2.2 percentage points to 13.4% in 2007 from 11.2% in 2006.

Dufry has acquired a 10% stake in Hudson Group, a US based travel retailer with a turnover of more than USD 630 million and 550 shops in 69 airports and transportation terminals in the United States and Canada. Furthermore, Dufry has signed contracts to operate more than 4’000 sqm of new retail space in four Italian train stations and to operate shops with a total surface of 550 sqm at the Ruzyne International Airport in Prague.

Also, Dufry opened a series of new shops in Dominican Republic, Aruba, Singapore, Morocco and Italy in the past few months. The new shops complement existing operations in the respective locations and add a total of 2,559 sqm of retail space.

Dufry will hold a presentation on the 2007 Full Year Results of Dufry Group on