The takeover bid made by a consortium of investors, acting through Tessera Holding ehf., to shareholders of Mosaic Fashions hf. ended on 7 August 2007. The results of the takeover bid is that Tessera Holding ehf. has acquired 1,055,434,890 shares in Mosaic Fashions hf. or 36.4% of the company's shares. Tessera Holding ehf. did not own any shares in Mosaic Fashions hf. before the transaction. The consortium now, directly or indirectly, owns an aggregate of 2,894,291,555 shares in Mosaic Fashions hf. or the equivalent of 99.8% of the company's share capital. 648 shareholders accepted the offer and after the takeover bid the number of shareholders in Mosaic Fashions hf. has reduced to 208. Settlement under the offer will take place no later than 14 August 2007 in accordance with the terms of the offer. The consortium members have decided to request the redemption of outstanding shares in Mosaic Fashions hf. with reference to article 47 of Act No. 33/2003 on Securities Transactions. After the acquisition and redemption of outstanding shares, F-Capital ehf. will own 49.0% of the share capital in Mosaic Fashions hf., Kaupting Bank hf. will own 20.0%, Gnupur Investment Company hf. will own 11.19% and Karen Millen and The Millen Life Interest Settlement will jointly own 6.75%. Other members of the consortium will each own less than the 5% of Mosaic Fashions hf.'s share capital. Kaupthing Bank hf. acted as the financial adviser to Tessera Holding ehf. during the takeover bid. For further information, please contact Jessica Wilks, Investor Relations Manager on +44 207 452 1122. Information on Mosaic Fashions hf is available on the company website at www.mosaic-fashions.is or www.mosaic-fashions.co.uk.