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Foundations that wisely attend to the responsibility for public welfare are themselves expressions
of the social engagement of individual citizens, enterprises, and communities.

The Foundation “German Watch Museum Glashütte – Nicolas G. Hayek” was established
on March 16, 2006, and was named after the founder of the Swatch Group AG.

With the firm belief in the future of the German watchmaking industry, Nicolas G. Hayek was
actively engaged in Glashütte since 2000 and provided fresh ideas as well as ongoing support.

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Press Release of the Swatch Group

Biel/Bienne, 28 June 2010 - With deep sadness and regret we inform you
that Mr. Nicolas G. Hayek, Chairman and Delegate of the Board of Directors of The Swatch Group Ltd.
unexpectedly passed away today due to heart failure during work at his beloved Swatch Group.

Mr. Nicolas G. Hayek's greatest merit was his enormous contribution to the saving of
the Swiss watch industry and the foundation and the commercial development of the Swatch Group.

Mr. Nicolas G. Hayek's extraordinary vision enabled him to realize and ensure the sustainability
of a strong watchmaking enterprise with high Swiss added value. He is rightly recognized
as a leading entrepreneur in this country.

With the right personnel decisions, Mr. Nicolas G. Hayek also ensured that his ideas and beliefs
will live on and that continuity is guaranteed in regard of shareholders, Board of Directors
and the Group Management Board.