Discussions on a public offer for the shares Gamma Holding N.V.

This is a public announcement by Gamma Holding N.V. pursuant to Section 5:25i of the Financial Supervision Act (Wet op het financieel toezicht ("Wft").

Further to the development of the price of the ordinary shares Gamma Holding, Gamma Holding N.V. announces that the company is discussing with Gilde Buy Out Partners B.V. ("Gilde") a possible public offer on all of the shares of Gamma Holding N.V. At the same time Gilde is discussing with Parcom Capital Management B.V. ("Parcom") the possible participation of Parcom in such offer by Gilde.

When agreement is reached Gilde will offer € 29.00 for each ordinary share and € 3.50 for each ordinary participating preference share; the offer would be made as a mandatory offer.

Further announcement wil be made in due course.

Executive Board Gamma Holding N.V.

Helmond, 3 December 2010