29.04.2009
Interim report
Van de Velde (excluding Andres Sarda) pursuing steady turnover in 2009

1. Turnover

Turnover indicators (excluding Andres Sarda) incline from slightly negative to steady for 1^st half of 2009. Precise turnover will be determined by back-orders for May and June. Initial indicators for the 2^nd half of 2009 provide a picture similar to the 1st half.

2. Operations

The announced closure of the Hungarian facility is on schedule.

Van de Velde is focused on the integration of Eurocorset (processes, people). The financial crisis is having more impact on this subsidiary. Eurocorset’s turnover for 2^nd half of 2009 will be lower than for 2^nd half of 2008.

The aim continues to be for Eurocorset to contribute positively to EBITDA from 1^st half of 2010.

3. Strategy

Van de Velde remains committed to its strategy in spite of the tough economic conditions. Both improvements in operational efficiency (where possible) and growth opportunities will be pursued.

Van de Velde NV is a leading player in the luxury and fashionable women’s lingerie sector. Van de Velde is convinced of a long-term strategy based on expanding and developing brands around the Lingerie Styling concept (fit, style and fashion), especially in Europe and North America.

For more information contact:

Van de Velde NV – Lageweg 4 – 9260 Schellebelle – 09 365 2100
www.vandevelde.eu

Ignace Van Doorselaere
Chairman of the Board

Stefaan Vandamme
Financial Officer