VELC Velcro Industries N.V. (MM)

CURACAO, Netherlands Antilles, Oct. 1 /PRNewswire-FirstCall/ -- Velcro Industries N.V. ("Velcro") (NASDAQ:VELC), holding company for the Velcro companies and the industry leader in hook and loop fasteners, today announced that it has commenced a cash tender offer to purchase all outstanding shares of its common stock. Under the terms of the tender offer, Velcro is offering to purchase for cash any and all outstanding shares of its common stock at a purchase price of US $21.00 per share. The tender offer commenced today, October 1, 2007, and will expire on November 5, 2007 at 5:00 p.m., New York City time, unless extended by Velcro. The offer is not conditioned on any aggregate minimum number of shares being tendered. The offer is, however, subject to certain other conditions described in the Offer to Purchase dated October 1, 2007. Velcro will only accept for purchase shares tendered by a shareholder if such shareholder tenders all of the shares held by such shareholder. However, Velcro will accept for purchase shares registered in the name of a nominee and tendered by such nominee on behalf of a beneficial holder where all of the beneficial holder's shares held by such nominee are tendered. Velcro reserves the right to waive this "no partial tender" condition of its acceptance for purchase of shares. While Velcro's Board of Directors has approved the tender offer, it does not, nor does Velcro, the information agent nor the depositary make any recommendation to shareholders as to whether to tender or refrain from tendering their shares. Shareholders must make their own decision as to whether to tender their shares. In doing so, shareholders should read carefully the information in the Offer to Purchase and in the related letter of transmittal, including the purposes and effects of the offer. Shareholders should discuss their decision with their tax advisors, financial advisors and/or brokers. This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any shares of Velcro's common stock. The solicitation of offers to purchase shares of Velcro's common stock will be made only pursuant to the Offer to Purchase dated October 1, 2007 and related materials that Velcro is sending to its shareholders. The offer is not being made to, nor will tenders be accepted from or on behalf of, shareholders in any jurisdiction in which the making or acceptance of offers to sell shares would not be in compliance with the laws of that jurisdiction. Velcro may, at its discretion, take any actions necessary to make the offer to shareholders in any such jurisdiction. Velcro's acceptance of tenders from or on behalf of shareholders in Canada is conditional upon Velcro obtaining exemptive relief from Canadian provincial securities legislation. Velcro is applying for such exemptive relief. MacKenzie Partners, Inc. will serve as information agent and Computershare Investor Services Inc. will serve as the depositary for the tender offer. Shareholders will also be able to obtain the Offer to Purchase and related materials at no charge from the information agent, MacKenzie Partners, Inc., at (800) 322-2885. About Velcro Industries N.V. Velcro Industries N.V. (NASDAQ:VELC) is incorporated and domiciled in Curacao, Netherlands Antilles as a Naamloze Vennootschap (public limited liability company) and acts as the holding company of the Velcro companies, which are primarily involved in the manufacturing and sales of VELCRO(R) and TEXACRO(R) brand fasteners, ULTRA-MATE(R) brand hook fasteners, and ONE-WRAP(R) brand straps throughout the world. Forward-Looking Statements This press release and the documents referenced herein may contain "forward-looking" statements and information, which involve risks and uncertainties. Actual future results may differ materially. Statements indicating that Velcro "expects," "estimates," "believes," "is planning" or "plans to" are forward-looking, as are other statements concerning future financial results or other events that have not yet occurred. There are several important factors that could cause actual results or events to differ materially from those anticipated by the forward-looking statements. DATASOURCE: Velcro Industries N.V. CONTACT: Bob Marese of MacKenzie Partners, Inc. for Velcro Industries N.V., +1-212-929-5405

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