Press Release

The Swatch Group Ltd. and Groupe E
promote sustainable development by establishing a high-tech energy company

Biel/Bienne and Fribourg, August 29, 2007
The Swatch Group Ltd, the world leader in watchmaking, is to join forces with Groupe E, a major international bank, the Swiss institutes of technology, Hayek Engineering and other interested parties to establish a holding company for the development and production of clean, renewable energy systems. Together with special partners from, for instance, the automobile industry, this holding company will be able to establish specific affiliated companies. At a later stage, the company may be listed on the stock market.

The aim of this special agreement between The Swatch Group Ltd. and Groupe E is to develop, produce and market energy production systems based on hydrogen and fuel cells. The goal is to provide the population with electricity for both residential and transport purposes. This will allow considerable progress to be made in producing entirely clean energy, with the aim of saving the environment and providing a substitute for CO2 emissions. The two companies have extensive expertise in this area.

• The Swatch Group has, among other activities, gained experience through the development of hybrid cars, the Smart car, and solar-powered cars (with Biel institute of technology) for the World Solar Challenge in Australia in the 1990s, as well as active participation in the Solarimpulse project
• Groupe E has gained experience through constructing industrial facilities for the production of hydrogen by means of electrolysis, and through collaboration with Michelin's research and development center.

Electrolysis offers considerable industrial potential
The responsibles of the two groups, Nicolas G. Hayek and Philippe Virdis, are delighted about this partnership, which is uniting two groups that firmly believe in the potential of electrolysis, and see future opportunities and possibilities of Switzerland revitalizing its industrial tradition through becoming a world leader in integral renewable energy. These two men are in charge of the Steering Committee controlling the work of the development team, which is made up of employees from both groups. In the long run, they plan to involve other partners in implementing the project.

Pour les médias:
Béatrice Howald, Head of Media Relations
The Swatch Group Ltd, Biel/Bienne
Tel +41 32 343 68 33, Fax +41 32 343 69 22

Edgar Geiser, CFO, and Thomas Dürr, Corporate Treasurer
The Swatch Group Ltd, Biel/Bienne
Tel +41 32 343 68 11, fax +41 32 343 69 16

Groupe E SA
Corporate Communication
Annette Zunzer
Tél. +41 (0) 26 352 54 33



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