Multibrands SAS has, in accordance with French law, informed the French stock exchange authority, the Autorité des marchés financiers (AMF) that subsequent to purchases on the market, it holds, in concert with HAL Holding N.V. and Messrs. Abittan, Likierman, Gwyn, Vannier and Sélignan more than half of the share capital of GrandVision and more than two thirds of its voting rights.



HAL Holding N.V. owns 63% of Multibrands SAS and Messrs. Abittan, Likierman, Gwyn, Vannier and Sélignan 37%.

As of February 20, 2004, Multibrands, in concert with HAL Holding N.V. and Messrs. Abittan, Likierman, Gwyn, Vannier and Sélignan, held a total of 14,457,523 GrandVision shares, representing 61.66% of the share capital and 67.60% of the voting rights of GrandVision.



Multibrands SAS initiated a cash tender offer at Eur 25.50 per share for GrandVision shares on February 3, 2004, which was cleared by the AMF on February 17, 2004 (AMF Decision n°204C0260) and the related offer prospectus, prepared jointly with GrandVision, was approved by the AMF under visa n°04-114 dated February 20, 2004. This cash tender offer was unanimously recommended by the supervisory board of GrandVision on February 2, 2004.



A summary of the offer prospectus will be published on February 24, 2004 in the French newspaper La Tribune and on the websites of the AMF and GrandVision. The prospectus will also be available on the websites of the AMF and GrandVision and free of charge on simple request at the offices of the concerned companies and financial intermediaries.