Vulcain Cricket Calibre V-20

Zurich, Switzerland, December 3, 2009 – In the course of implementing its ambitious objectives both within and beyond Europe, the Excellence Holding has completed another important step. The group is taking over PMH SA, domiciled in Le Locle, which produces the VULCAIN watch brand.

The Excellence Holding AG is taking over the Vulcain watch brand, founded in 1858 in Le Locle with immediate effect. Vulcain gained worldwide renown with the first functioning alarm movement known as “Cricket” and the corresponding watches, which every American president since Harry Truman has owned. Confidentiality was agreed with regard to the purchase price.

The goal of Excellence Holding, based in Rapperswil in the canton of St. Gallen, to unite smaller, exquisite, high-quality companies in the watchmaking and jewelry sector under one roof and to develop them further. The group employs 80 staff members and has sales of approx. CHF 100 million. The company’s portfolio includes the well-known Swiss watch retailer Les Ambassadeurs as well as the premium watch brand Jaermann & Stübi.

“Vulcain has everything a successful watch brand needs: a unique history and movements produced in its own factory”, explained the president of the board of directors and CEO of Excellence Holding, Dr. Renato A. Vanotti. For the managing director of Vulcain, Bernard Fleury, the merger with the Excellence Group is an important step toward strengthening and focusing his company on the future. “We are contributing 150 years of passion in watchmaking, but also 150 years of creativity, innovation and patiently acquired expertise. With Excellence Holding, Vulcain is entering a promising future.”

Vulcain is represented internationally with more than 170 specialist watch retailers, primarily in Japan, Hong Kong, Singapore, Taiwan, France and Italy. Vulcain is being integrated in the Excellence Holding as an independent company. Its headquarters will remain in Le Locle in Western Switzerland.

About Excellence Holding AG

The Excellence Holding AG, domiciled in Rapperswil in the canton of St. Gallen, Switzerland, is a wholly owned subsidiary of the Centum Prata Group. The Excellence Holding AG owns the watch and jewelry specialist retailer Les Ambassadeurs (100%) with branches in Geneva, Locarno, St. Moritz and Zurich, the watch brands Jaermann & Stübi (60%), domiciled in Zurich, and PMH SA, which will do business in the future under the name MANUFACTURE DES MONTRES VULCAIN SA (100%), domiciled in Le Locle, Switzerland. The goal of Excellence Holding is to unite smaller, exquisite, top-quality companies in the watchmaking and jewelry sector under one roof and to develop them further. The group employs approx. 80 staff members and has sales of CHF 100 million. The president of the board of directors and CEO is Dr. Renato A. Vanotti.

About Vulcain

The Vulcain brand, founded in1858 in Le Locle, Switzerland, gained worldwide renown with the first functioning alarm movement known as “Cricket” and the corresponding watches, which every American president since Harry Truman has owned. Furthermore, Vulcain watches were worn during the first ascent of K2 in 1954 and by the Swiss diver Hannes Keller when he set his world record in diving in the 1960s.

Vulcain manufactures its own movements and has updated and optimized these over the years. The product range includes five different calibers, so that the company can rightly call itself a manufacturer. Vulcain models are sold worldwide in 170 stores, primarily in Asia. Vulcain employs 12 staff members. Bernard Fleury became the CEO in 2001.

Contact
Mario Walser, Phone: +41 79 522 64 02, mario.w.walser@bluewin.ch