Laurus: signing second tranche of transaction documentation

On June 3, 2002 Casino SA, Laurus NV and the Banks (ABN Amro Bank, ING Bank and Rabobank Nederland) signed – as was already announced on May 22, 2002 – the second tranche of the transaction documentation. The remaining contracts with respect to the finance arrangements between Laurus and the Banks will be signed in the course of this week.

It is expected that the Laurus meeting of shareholders will be held on Friday June 28, 2002. This meeting of shareholders will decide on inter alia the proposed transaction with Casino and the Banks and the Laurus 2001 annual accounts. An explanatory memorandum on the proposed transaction will be published, together with the 2001 annual accounts, 15 days prior to the shareholders meeting.

(source: Laurus)

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