[ New Capital Structure, Extraordinary Payment, and ...]

New Capital Structure, Extraordinary Payment, and Other
Shareholder-Friendly Moves

At its meeting on 12 February 1997, the Board of Directors of Danzas
Holding Ltd resolved to propose a shareholder-friendly simplification
and improvement of the capital structure at the General Meeting of 6
June 1997. The proposal will cover the creation of a single
registered share with a nominaal value reduced to CHF 10.;as a result
of this reduction of the corporation’s share capital, Danzas
shareholders are to receive a oash repayment totalling CHF 26.2
million. The regular dividend for the 1996 business year will not be
affected by this nonrecurring partial repayment of share capital. The
Board of Directors has also approved a Stock Option Plan designed to
foster the interest of the group’s top managers in Switzerland and
abroad in the group’s future performance.