MACINTOSH FINALIZES ON SCAPINO

[BIZ: Maastricht, February 23]
Macintosh Retail Group and Retail Network have come to a final agreement on the acquisition of shoe retailer Scapino by Macintosh Retail Group with retroactive effect to February 1, 2006. The acquisition price amounts to EUR 140m (cash and debt free). Scapino’s operating profit for the 2005/2006 financial year (February 1, 2005 to January 31, 2006) amounted to EUR 16.9m (under Dutch GAAP).

Based on Scapino’s figures for the 2005/2006 financial year and taking financing charges into account, the annual contribution to net earnings per share of Macintosh Retail Group would have amounted to some EUR 0.90. It is expected that Scapino will contribute substantially to net earnings per share of Macintosh Retail Group in the future.

The shareholders of Macintosh Retail Group NV will be requested to approve the acquisition during an extraordinary meeting of shareholders to be held on March 14, 2006.
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