SCHIPHOL AIRPORT, Netherlands, May 2, 2005 (PRIMEZONE) -- Royal Numico N.V. reports that it has reached a tentative settlement which, if approved by the Court, will result in the dismissal of 36 ephedra cases in which GNC is named as a defendant.
The agreement is part of a global settlement involving claims against approximately 20 defendants, including GNC and other retailers, relating to the sale of ephedra-containing products manufactured by Twin Labs. Although the amount of each individual defendant's contribution, including Numico's, remains confidential, the group of defendants will (unequally) pay a total amount of USD 19.71 mln. Numico's contribution is covered by product liability insurance.
The settlement is subject to definitive documentation and ultimate approval by the Bankruptcy Court as part of Twin Lab's Plan of Reorganisation. If approved by the Court, it will result in the dismissal of 77 active cases, including 36 in which GNC - a company sold by Numico in October 2003 - is named as a defendant for which a part of the liability risk remained with Numico.
Royal Numico is a high-growth, high-margin specialised nutrition company with leading positions in Baby Food and Clinical Nutrition and brings products to the market under the brand names Nutricia, Milupa and Cow & Gate, among others. The company serves customers in over 100 countries and employs approximately 11,000 people (see also: www.numico.com).
http://hugin.info/130673/R/992389/149777.pdf
For any questions you might have, please contact:
Royal Numico N.V. Corporate Communications tel +31 20 456 9077 Royal Numico N.V. Investor Relations tel +31 20 456 9003
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