NIAGARA AG

The company's purpose is the retail sale, primarily of textiles, as well as the trade in goods in the clothing sector; it can participate in other companies. The company can establish branches and subsidiaries in Switzerland and abroad and participate in other companies in Switzerland and abroad, as well as conduct all business that is directly or indirectly related to its purpose. The company can acquire, encumber, sell and manage real estate in Switzerland and abroad. It can also provide financing for its own account or for the account of third parties, as well as provide securities for the liabilities of affiliated companies.