Vix Acquires JV Partner in Claves

Melbourne, Australia, March 29, 2012. Vix is pleased to announce that we have purchased the shares of our joint venture partner in Claves so that it will become a 100% Vix owned subsidiary.

We would like to welcome Giuseppe Russotti (Claves General Manager) and his team to the Vix family. In due course, we will re-brand Claves as Vix Italy. Claves will have full responsibility for Vix for the Italian market and we will look to see where we can leverage their capability to serve other markets or support the business units outside Italy.