PANDORA A/S today announced that in recognition of PANDORA's high level of investments in Thailand, the Thailand Board of Investment has granted PANDORA an eight years extension of the company's current tax exemptions in Thailand.

As stated in the company's offering circular of 20 September 2010, PANDORA benefits from certain tax-based incentives, tax exemptions and tariff exemptions granted, subject to certain conditions, by the Thailand Board of Investment under the Thai Investment Promotion Act B.E. 2520 to our Thai production subsidiary, PANDORA Production Co., Ltd.

These concessions include exemptions from Thai income tax assessed on PANDORA Production Co., Ltd. and on dividends paid by PANDORA Production Co., Ltd. to its shareholders until August 2012, as well as exemptions from import duties paid on certain machinery and raw materials imported into Thailand.

With the Thailand Board of Investment's new decision, PANDORA expects the extended tax exemptions period to run into the fourth quarter of 2019.

The content of this release has no effect on PANDORAs financial guidance for the financial year of 2010 as most recently communicated in connection with the release of our Q3 financial results on 11 November 2010.

ABOUT PANDORA

PANDORA designs, manufactures and markets hand finished and modern jewellery made from genuine materials and at affordable prices. The PANDORA jewellery is sold in more than 50 countries on six continents through approximately 10,000 points of sale, including over 320 PANDORA branded concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over 4,800 people worldwide of whom more than 3,500 are located in Gemopolis, Thailand, where the company manufactures its jewellery. PANDORA is publicly listed on the NASDAQ OMX Copenhagen stock exchange in Denmark. In 2009, PANDORA's total revenue was DKK 3.5 billion (approximately EUR 465 million). For more information, please visit www.pandoragroup.com

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