Amtel-Vredestein declared bankrupt, following sale.

Enschede, The Netherlands – Amtel-Vredestein N.V.has been declared bankrupt. On 29 April 2009 the District Court of Almelo, the Netherlands withdrew the Company’s preliminary suspension of payments (granted on 2 April 2009) and declared the Company bankrupt. Mr. J.A.D.M. Daniëls has been appointed as bankruptcy trustee of the Company.

The Company is the holding company of its Russian and European subsidiaries and has no operational activities. The Company confirms that Vredestein Banden B.V. and its European subsidiaries remain a going concern due to the separate financing…

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