The DRS Virtual Data Room is selected for the Sale of Pasito-Fricker AG

GARANT Sells Pasito-Fricker AG to Ludwig Görtz GmbH using the Virtual Data Room of DRS as Due Diligence Platform

Frankfurt, May 27th, 2010 - On March 16, 2010, Garant Schuh + Mode AG, a European specialty retailer for shoes, sports goods and leatherwear, sold subsidiary Posito-Fricker to Ludwig Görtz GmbH.

Pasito-Fricker operates approximately 60 shoe shops in Switzerland in the luxury, fashion and family segments. With the takeover of 99,97% of the share portfolio held by GARANT (retroactive to January 1st, 2010) Görtz enters the Swiss market. GARANT continues to coordinate Central Regulation for Pasito-Fricker.

The DRS virtual data room was chosen as the due diligence platform for the transaction. The DRS platform provides an optimal foundation for the easy and efficient execution of online due diligence. Using this highly secure virtual data room, all transaction relevant data can be accessed via web at any time and from any location that has web access. The industry-leading speed of the unique document viewing technology enables due diligence analysts to work faster and more comfortably. In addition to the viewer, DRS also supplied the Q&A Management system that is integrated into its virtual data room.

In November 2009 GARANT commissioned the investment bank Sal. Oppenheim (Corporate Finance Team in Zurich) for the search for a strategic partner for Pasito-Fricker.

The parties involved have agreed not to disclosure the details of the share purchase agreement.

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Meike Mohr
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meike.mohr@dataroomservices.com
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