Bondholders owning € 61.8 million of convertible bonds already support
proposed offer
Draka announces a mixed cash and equity offer for all outstanding € 100 million 4% convertible bonds due 2010, issued in 2005
Bondholders owning € 61.8 million or 61.8% of the convertible bond outstanding have already committed to accept the offer
Proposed transaction will optimize Draka's capital structure and financial flexibility; Draka's reported debt will be lowered by € 43.3 - € 69.9 million while simultaneously its shareholders equity position will increase by € 43.3 - € 69.9 million (before IFRS adjustments)

Amsterdam, 8 December 2008 - This press release has been published by Draka Holding N.V., one of the world's leading cable manufacturers for low-voltage cable, cable for OEMs and communication cable.

Draka announces that it will make a mixed cash and equity offer ("the Offer") to each Bondholder (the "Bondholder") for all outstanding € 100 million 4% Convertible Subordinated Bonds due 2010 ("the Bonds") as issued by Draka, of which € 99.9 million is currently outstanding. Bondholders representing € 61.8 million have already committed to accept the Offer. The Offer will optimize Draka's capital structure and financial flexibility by reducing the reported debt and simultaneously by increasing its shareholders equity position. Furthermore, the Offer would both enhance the liquidity of their investment in the Bonds and provide Bondholders an exit opportunity.

Offer to Bondholders

The Offer to each Bondholder includes, a cash payment equal to € 300 per € 1,000 in principal amount of the convertible bonds in respect of which a valid conversion notice is received by ABN AMRO Bank N.V. by 5.00 pm (CET) on 15 December 2008.

Upon conversion of their Bonds, Bondholders who have exercised their Conversion Rights will receive 67.98 ordinary shares per € 1,000 principal of Bonds in discharge of all obligations as set forth under such Bonds. Goldman Sachs International is sole Broker for this transaction.

Position of existing Bondholders and Draka's main shareholder

Bondholders representing in total approximately € 15.8 million of principal amount of the Bonds have committed to accept the Offer and convert all their existing holding of Bonds.

In addition, Flint Beheer B.V., which currently holds approximately 46.2% of the Company's ordinary shares and € 46 million of principal amount of the Bonds, has committed to accept the Offer and convert all its existing holding of the Bonds.

Optimizing capital structure and financial flexibility
Depending on the amount of further Bondholders accepting the Offer, Draka's reported debt will be reduced by € 43.3 - € 69.9 million and improve the shareholders equity position by € 43.3 - € 69.9 million (before IFRS adjustments). The cash payment will be met out of existing committed financial resources.

For full details of the Offer, please visit Draka's website: www.draka.com