THE CHIC OUTLET SHOPPING® VILLAGES IN EUROPE BUCK THE TREND

The Collection of nine Chic Outlet Shopping® Villages in Europe, created and managed by Value Retail, is significantly bucking the trend. The Collection, with over 850 boutiques across Europe, offers previous seasons collections at prices reduced by up to 60% all year round and is host to internationally recognised, world-leading and niche European fashion brands. Matthew Williamson, Smythson, Anya Hindmarch, Antik Batik, Simonetta, Jesus del Pozo, Temperley London and Agent Provocateur have chosen to have their only outlet store worldwide with the Collection. While Theory, Givenchy, Zadig & Voltaire and Lalique have their only European outlet at one of the Villages.

2009 is the year for smart shopping, travel solutions and for time and money well spent. The nine Chic Outlet Shopping® Villages in Europe seem to be more relevant than ever to the discerning tourist customer who is keen not to trade down but to rather, shop smart. The Villages, with Q1 tax refunded sales growth of 55% compared to the same period in 2008, have significantly outperformed their Global Refund affiliated benchmark cities. These benchmarks include Londons West End, Paris, Madrids Centro and B. Salamanca, C. Vieja and Paseo in Barcelona, Milan, Brussels, Munich and Frankfurt,.

Building on an increase of 33% in total tax refund sales in the last quarter of 2008, and with a network of Travel Trade representatives in Russia, China, South East Asia, Japan, Middle East and Brazil, the Chic Outlet Shopping® Villages in Europe, managed by Value Retail, are committed to driving high spending footfall to Europe. Value Retails 43% overall increase of number of Tax Free Transactions is extraordinary given a general slowdown in the Tax Free Shopping business in Q1 2009. The outstanding sales results of Value Retails Chic Outlet Shopping® Villages in Europe with its attractive price levels, combined with the possibility to reclaim VAT, tells that the combination of good pricing policies and high quality standard is a key success factor in these difficult times says Pier Francesco Nervini, Vice President International Key Accounts at Global Refund

Across the Collection, China is the largest contributing market by volume (25% of all tax refund sales). By value per transaction, however, the leading market is Brazil, where the average transaction is 319. The US market closely follows with an average of 316 and shows an increase of 25% in tax refunded sales compared to the previous year. The Middle East, with an average of 312, still remains the fastest growing market in sales (+ 169% on last year) for the Chic Outlet Shopping® Villages. Tax refunded sales generated by visiting South East Asians in the first quarter increased by 88% compared to the previous year, placing them in the same league as the Middle East, Russia and China.

Exceptional value is always in style, especially where non-EU residents enjoy the convenience of tax free shopping with refunds of up to 15%. The Villages deliver five-star service with award-winning Tourist Information Centres, personal shoppers, direct shuttle transport from the city. They also offer a discreet, secure and exclusive environment where fashionable figures have all chosen to shop such as Stella McCartney, Jude Law, Elizabeth Hurley, Victoria and David Beckham, Yasmin Le Bon and Mick Jagger.

The nine Chic Outlet Shopping® Villages in Europe are conveniently positioned and uniquely qualified to fill holiday time and allow visitors to stretch their budget further so they can shop in style and never feel they have to trade down on luxury. Whether it is a day trip or a weekend break, which combines shopping with culture, gastronomy, history and pleasure, clients can find a selection of preferred travel partners on www.ChicOutletShopping.com/shoppingbreaks.

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NOTES TO EDITOR:

Digital footage is now available upon request or visit www.ChicOutletShopping.com/tv　

THE COLLECTION: www.ChicOutletShopping.com　

DUBLIN & COUNTY KILDARE Kildare Village LONDON, OXFORD & THE COTSWOLDS Bicester Village PARIS, BRIE COUNTRY & THE CHAMPAGNE REGION La Vallée Village MADRID & SEGOVIA Las Rozas Village BARCELONA & THE COSTA BRAVA La Roca Village MILAN/BOLOGNA & PARMA Fidenza Village BRUSSELS, ANTWERP, COLOGNE & THE REGION OF LIMBURG Maasmechelen Village FRANKFURT & THE ROMANTIC ROAD Wertheim Village MUNICH & BAVARIA Ingolstadt Village

Chic Outlet Shopping® in Europe is a registered trademark of Value Retail PLC.

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For Media Enquiries:

IMPACT ASIA LTD. Cherie Lau / Hamida Ha

Email: cherie@impactasia.com / hamida@impactasia.com

Tel: + 852 2521 1498 Fax: + 852 2804 6786 Website: www.impactasia.com