Essen, Germany, June 29,  2007. The Group holding at KarstadtQuelle AG (Essen) is to receive a new name on July 1, 2007 and is to operate as Arcandor AG.

The preparations for the change of name which have been in full swing for six months will be concluded in the night from  June 30 to  July 1,  2007. Punctually at 00:00, the  Arcandor AG online website will go online. At the Essen headquarters, the KarstadtQuelle fonts are to be switched for Arcandor fonts over the weekend. The Arcandor corporate logo will be placed on the roof of corporate headquarters, next to that of Karstadt, for the Karstadt headquarters remains in Essen-Bredeney.
“This new name relates exclusively to the activities of the holding. The successful brands such as Thomas Cook, Karstadt or Quelle are not affected by this. On the contrary – we will do everything we can to ensure that they become stronger and even more attractive”, said the CEO of KarstadtQuelle AG, the future Arcandor AG, Thomas Middelhoff.

He announced that the three business divisions would operate more independently in the future. Thomas Cook Group plc would be managed by Manny Fontenla-Novoa as CEO and Middelhoff as Chairman from London. Karstadt headed by Peter Wolf, and Primondo, headed by Marc Sommer, would be managed from Essen. The headquarter functions will be concentrated to a financial holding with its seat in Essen. “As with the new Thomas Cook Group plc, we will seek attractive opportunities for Karstadt and Primondo so as to benefit from the consolidation process that has started in their respective markets, and further strengthen the divisions,” said Middelhoff.

The transformation of the group headquarters into the financial holding should be concluded by the end of the shortened financial year on September 30, 2007. The core functions of the holding will be improving the operating performance in the three core areas as well as the further development through mergers and acquisitions.

Media Contact:
KarstadtQuelle AG
Corporate Communications
Jörg Howe
Telefon: +49 (0)201/727-25 38
Telefax: +49 (0)201/727-37 09
E-Mail: joerg.howe@karstadtquelle.com
Internet: http://www.karstadtquelle.com/