28.04.2010
Interim Report
2010 Turnover indicators instil confidence

Outlook for 2010

Van de Velde expects organic turnover growth in 2010 to outstrip the 3.4% posted in 2009. This accelerated growth will already result in improved figures in the first six months. Given the importance of follow-up orders in May and June precise growth forecasts are not possible at this time. Sardá will continue to face challenges in the spring, but will experience a turnaround in the autumn. PrimaDonna remains the strongest growth market.

This growth does not take any account of the consolidation of {intimacy} or LinCHérie.

We expect REBITDA (recurring EBITDA) to grow faster than turnover in 2010 as a whole. One reason for this is cost savings implemented last year.

Strategy

Van de Velde continues to roll out its strategy wholeheartedly. A number of major initiatives are planned, especially in retail:

• Van de Velde has acquired the Dutch retail cooperative LinCHérie, effective 1 May 2010.
• Van de Velde now holds 85% of {intimacy}. This multi-brand United States lingerie chain is expected to generate turnover of around $38 million in 2010, as well as opening at least three new stores, including two in Los Angeles.
• Two new Oreia stores are set to open soon (one in Germany and one in Spain).
• The support programmes for independent retailers will be strengthened.

This underlines Van de Velde’s belief that specialty boutiques are the best sales channel for luxury lingerie.

Van de Velde NV is a leading player in the luxury and fashionable women’s lingerie sector. Van de Velde is convinced of the merits of a long-term strategy based on developing and expanding 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 +32 (0)9 365 21 00 www.vandevelde.eu

Stefaan Vandamme CFO

Ignace Van Doorselaere CEO