Velcro Industries N.V. Announces Deposit by Cohere Limited with Central Bank of the Netherlands Antilles for Remaining Shares

CURACAO, Netherlands Antilles, June 17  /PRNewswire-FirstCall/ -- Velcro Industries N.V. ("VINV") (NASDAQ:VELC), holding company of the Velcro companies and the industry leader in hook and loop fasteners, today announced that Cohere Limited ("Cohere") has deposited funds with the Central Bank of the Netherlands Antilles to pay for all 183,214 remaining VINV shares not previously tendered to Cohere (the "Deposit").

VINV has been notified that the Deposit, in the amount of approximately US$3.9 million, was transferred by Cohere to Bank van de Nederlandse Antillen (or the Central Bank of the Netherlands Antilles) on June 15, 2009.  VINV understands that as a consequence of the Deposit ownership of all remaining VINV shares has transferred to Cohere and the former holders of VINV shares are only entitled to receive payment for their shares from the Deposit.  Former holders of shares should contact Bank van de Nederlandse Antillen, Simon Bolivar Plein 1, Willemstad, Curacao, Netherlands Antilles (Attn: Legal Department), telephone [phone]; fax [phone], with requests for release of funds from the Deposit as payment for shares or questions regarding the Bank's procedure for release and payment of funds.

On June 16, 2009, VINV instructed the NASDAQ to terminate trading of VINV common shares.  VINV is instructing its transfer agent to stop effecting transfers in the shares.

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.  For more information about Velcro Industries N.V., including annual and quarterly reports, proxy statements and other materials required to be electronically published under Rule 12g3-2(b) of the U.S. Securities Exchange Act of 1934, visit http://www.velcroindustriesnv.com/.

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 VINV "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:  Peter A. Pelletier, 1-800-225-0180, for Velcro Industries N.V.



Web Site:  http://www.velcroindustriesnv.com/ 

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