EANS-Adhoc: ESCADA AG: Exchange offer to bond holders attains 37% acceptance quota by July 14, 2009 - cash payment prolonged until the end of the exchange period

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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Restructuring

14.07.2009

Munich, July 14, 2009 - According to preliminary calculations ESCADA
AG's public exchange offer to the holders of the 2005/2012 bond has
attained an acceptance quota of 37% referenced to the total nominal
value of 200 million euros by July 14, 2009. The offer extends from
June 29, 2009 through to the end of July 31, 2009 and provides for a
minimum acceptance quota of 80%.

ESCADA AG today decided to extend the cash component until the end of
the exchange period. Consequently, all bondholders who exchange their
old bonds by the end of the exchange period on July 31, 2009 will
receive a cash payment of 25 euros for every 1,000 euros in nominal
value of the old bond tendered. Initially the cash payment was to be
granted only to those holders who had tendered their old bonds for
exchange by July 14, 2009 (the early tender deadline). The early
tender deadline will now coincide with the expiration of the exchange
offer.

With this step ESCADA AG is mainly taking into account the fact that
some of the bondholders located in many countries of the world only
belatedly received the necessary information required to exchange
their bonds. These bondholders will be given adequate time to
carefully consider the offer without having to suffer any economic
drawbacks. ESCADA AG will make available the corresponding supplement
to the prospectus published on June 26, 2009 immediately after its
approval by German regulators on the websites
http://investor-relations.escada.com and www.escada-anleihe.com.

As part of the Group's ongoing financial restructuring, ESCADA AG is
offering the holders of its existing bond (with a total nominal value
of 200 million euros) the chance to exchange the old bond for a
combination of two new bonds. Taken together with the cash component,
the nominal exchange value amounts to 400 euros for every 1,000 euros
in nominal value of the old bond. Thus the offer is 36% higher than
the trading price of the old bond prior to the announcement of the
exchange offer on June 26, 2009. The new bonds also carry a
significantly higher interest rate than the old bond.

end of announcement euro adhoc
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ots Originaltext: Escada AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Investor Relations

Yara Kes

Tel.: +49 (0) 89 9944 1336

Email: yara.kes@de.escada.com

Presse:

Frank Elsner Kommunikation für Unternehmen GmbH

Frank Elsner

Tel.: +49 - 54 04 - 91 92 0

Email: info@elsner-kommunikation.de

Bond holders:

Thomson Reuters

Melina Bobbio, Ellis Farrell

Info-Hotline Germany: +49 69 7565 1010

Info-Hotline United Kingdom: +44 207 542 -9013 / -8775

Email: anleihe@de.escada.com

Website: www.escada-anleihe.com

Not for release, publication or distribution in the United States, Australia,
Italy, Canada or Japan.

This information does not constitute a prospectus. The exchange offer in Germany
is made

exclusively on the basis of the prospectus, which contains the information for
investors required

under statutory provisions and which is available on the websites of ESCADA AG
(http://investorrelations.escada.com) and the information agent Thomson Reuters
(www.escada-anleihe.com); print copies may be requested free of charge from
ESCADA AG (Einsteinring 14-18, 85609 Aschheim/Munich, Germany).

The prospectus prepared for the planned subscription offer will be published
with the start of the

subscription period in Germany and will then be available free of charge from
ESCADA AG

(Einsteinring 14-18, 85609 Aschheim/Munich, Germany).

This press release is not an offer for sale of securities in the United States.
Securities may

not be sold in the United States absent registration with the United States
Securities and

Exchange Commission or an exemption from registration under the U.S. Securities
Act of

1933, as amended. ESCADA AG does not intend to register any part of any offering
in the

United States or to conduct any public offering of securities in the United
States.

This communication is only being distributed to and is only directed at (i)
persons who are outside

the United Kingdom or (ii) to investment professionals falling within Article
19(5) of the Financial

Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or
(iii) high net

worth companies, and other persons to whom it may lawfully be communicated,
falling within

Article 49(2)(a) to (d) of the Order (all such persons together being referred
to as "relevant

persons"). The securities are only available to, and any invitation, offer or
agreement to

subscribe, purchase or otherwise acquire such securities will be engaged in only
with, relevant

persons. Any person who is not a relevant person should not act or rely on this
document or any

of its contents.

The exchange offer is not extended to any persons (natural or legal) resident in
the

Republic of Italy.

The exchange offer is not being made, directly or indirectly, in the Republic of
Italy. The exchange

offer and the prospectus has not been submitted to the clearance procedure of
the Commissione

Nationale per le Societa e la Borsa ("CONSOB") pursuant to Italian laws and
regulations.

Accordingly, neither the prospectus, this press release nor any other documents
or materials

relating to the exchange offer or the securities may be distributed or made
available in the

Republic of Italy.

Branche: Clothing
ISIN: DE0005692107
WKN: 569210
Index: CDAX, Classic All Share, Prime All Share
Börsen: Berlin / Open Market
Hamburg / Open Market
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