Gamma Holding sells Leo Schellens

Gamma Holding intends to sell the company Léo Schellens, which is active in the field of mohair velours furniture fabrics, to Vescom Groep in Deurne, The Netherlands.

The sale of this unit is in line with Gamma Holding's previous decision to dispose of the Interior-Decoration Products sector. In anticipation of this divestment, this sector was already deconsolidated in the 1999 annual accounts.

Léo Schellens employs some 60 persons. Turnover in 2000 totalled approximately EUR 12.5 million. The unions and the Works Council have been informed.

Following the completion of the above-mentioned divestment, the companies Dawes, E & S Home of Color, Eijffinger, Hatéma Contract and Sanderson are still part of the Interior-Decoration Products sector.

Board of Managing Directors, Gamma Holding N.V.

Helmond, 17 January 2001