Curacao Proceeding

VINV has notified both the NASDAQ and Computershare Investor Services Inc., VINV's transfer agent, of the Default Judgment. No determination has yet been made as to when VINV's common shares will cease trading on the NASDAQ or when instructions to stop effecting transfers in the shares will be given to the transfer agent.Velcro Industries N.V. ("VINV") , holding company of the Velcro companies and the industry leader in hook and loop fasteners, today announced that on April 6, 2009, the Court of first instance of the Netherlands Antilles sitting in Curacao (the "Court") rendered a default judgment (the "Default Judgment") in the proceeding by Cohere Limited to acquire all outstanding VINV common shares not held by Cohere Limited (the "Curacao Proceeding").

On September 1, 2008, Cohere Limited ("Cohere"), then the record holder of in excess of 95% of VINV's common shares, filed a petition under Article 2:250 of the Civil Code of the Netherlands Antilles seeking to compel the transfer to Cohere of all of the VINV common shares not held by Cohere at US$21.00 per share or such other price as determined by the Court (the "Petition"). Pursuant to the Default Judgment, the shareholders of VINV, other than Cohere, have been ordered by the Court to transfer their shares to Cohere in exchange for payment of US$21.00 per share by Cohere.

VINV, which is not a party to the hook and loop Curacao Proceeding, will make available copies of the Petition and the Default Judgment (in Dutch with English translation) to any shareholder of record, or any previously identified Non-Objecting Beneficial Owner of VINV common shares, upon written request. VINV recommends that shareholders review carefully the Petition and the Default Judgment and consult with their own legal, tax and financial advisors.

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