CURACAO, Netherlands Antilles, Oct. 1 /PRNewswire-FirstCall/ -- Velcro
Industries N.V. ("Velcro") (Nasdaq: VELC), holding company for the Velcro
companies and the industry leader in hook and loop fasteners, today
announced that it has commenced a cash tender offer to purchase all
outstanding shares of its common stock. Under the terms of the tender
offer, Velcro is offering to purchase for cash any and all outstanding
shares of its common stock at a purchase price of US $21.00 per share.
    The tender offer commenced today, October 1, 2007, and will expire on
November 5, 2007 at 5:00 p.m., New York City time, unless extended by
Velcro. The offer is not conditioned on any aggregate minimum number of
shares being tendered. The offer is, however, subject to certain other
conditions described in the Offer to Purchase dated October 1, 2007. Velcro
will only accept for purchase shares tendered by a shareholder if such
shareholder tenders all of the shares held by such shareholder. However,
Velcro will accept for purchase shares registered in the name of a nominee
and tendered by such nominee on behalf of a beneficial holder where all of
the beneficial holder's shares held by such nominee are tendered. Velcro
reserves the right to waive this "no partial tender" condition of its
acceptance for purchase of shares.
    While Velcro's Board of Directors has approved the tender offer, it
does not, nor does Velcro, the information agent nor the depositary make
any recommendation to shareholders as to whether to tender or refrain from
tendering their shares. Shareholders must make their own decision as to
whether to tender their shares. In doing so, shareholders should read
carefully the information in the Offer to Purchase and in the related
letter of transmittal, including the purposes and effects of the offer.
Shareholders should discuss their decision with their tax advisors,
financial advisors and/or brokers.
    This press release is for informational purposes only and is neither an
offer to purchase nor a solicitation of an offer to sell any shares of
Velcro's common stock. The solicitation of offers to purchase shares of
Velcro's common stock will be made only pursuant to the Offer to Purchase
dated October 1, 2007 and related materials that Velcro is sending to its
shareholders. The offer is not being made to, nor will tenders be accepted
from or on behalf of, shareholders in any jurisdiction in which the making
or acceptance of offers to sell shares would not be in compliance with the
laws of that jurisdiction. Velcro may, at its discretion, take any actions
necessary to make the offer to shareholders in any such jurisdiction.
Velcro's acceptance of tenders from or on behalf of shareholders in Canada
is conditional upon Velcro obtaining exemptive relief from Canadian
provincial securities legislation. Velcro is applying for such exemptive
relief. MacKenzie Partners, Inc. will serve as information agent and
Computershare Investor Services Inc. will serve as the depositary for the
tender offer. Shareholders will also be able to obtain the Offer to
Purchase and related materials at no charge from the information agent,
MacKenzie Partners, Inc., at (800) 322-2885.
    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.
    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 Velcro "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.

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