Berggruen Holdings Acquires IMS and SEH

Berggruen Holdings Ltd., the holding company of German-American
investor, patron and philanthropist Nicolas Berggruen, has agreed to
acquire 100% of the shares of IMS AG and SEH Ges.m.b.H., together with
the shares of BFM ETAP Sp. Z.o.o., which are subsidiaries of Schieder
Mobel Holding. The closing is scheduled for mid November, 2007.

The Group headquartered in Bendern, Liechtenstein, generates with
over 3500 employees a turnover in excess of EUR 250 million and runs
eleven manufacturing plants in Poland, five for upholstered furniture
and six for case goods. It operates an efficient and effective sales
network in Austria, Benelux, Croatia, Germany, Hungary, Poland, Spain
and Switzerland.

As a result of this transaction IMS Group has severed all
relations with the Schieder group. With its extensive range of
products including upholstered furniture, case goods, tables and
chairs, IMS Group is able to offer customers integrated furniture
concepts for living, dining and sleeping.

Berggruen Holdings is the direct investment vehicle of Nicolas
Berggruen (46), son of art collector Heinz Berggruen. His current
investments have regularly demonstrated a great sense of social
responsibility and commitment to the society, abstaining from
short-term profit maximisation and instead focussing on sustainable
long term growth.

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