Press Releases

Mansfield, Massachusetts, October 25, 2007 – Samsonite Corporation (“Samsonite”), one of the world’s largest designers, manufacturers , distributors and marketers of luggage, casual bags, business cases and travel-related products today announced the completion of its merger with an affiliate of funds managed and advised by CVC Capital Partners (“CVC”), a leading global private equity firm.

On July 5, 2007, an affiliate of funds managed and advised by CVC entered into a merger agreement with Samsonite to acquire Samsonite for a transaction value of approximately $1.7 billion.  Under the terms of the agreement, Samsonite’s stockholders are entitled to receive $1.49 in cash, without interest, for each share of Samsonite’s common stock.

The transaction was unanimously approved by the Board of Directors of Samsonite.  Entities controlled by Ares Management LLC, Bain Capital Partners, LLC and Teachers’ Private Capital, the private investment arm of Ontario Teachers’ Pension Plan, who collectively own approximately 85% of Samsonite’s common stock, approved the transaction pursuant to a written consent and voting agreement with CVC.

As a result of the transaction, Samsonite’s common stock will cease to be quoted or traded on Nasdaq’s Over The Counter Bulletin Board or other over-the-counter markets.

Samsonite’s stockholders who hold shares of Samsonite’s common stock through a bank or broker will not have to take any action to have their shares converted into cash, since these conversions will be handled by the bank or broker.  As soon as practicable, Computershare Inc., the paying agent appointed for the transaction, will send information to all Samsonite stockholders of record, explaining how they can surrender their shares of Samsonite’s common stock in exchange for $1.49 per share in cash, without interest.  Stockholders of record should wait to receive this information before surrendering their shares.

Marcello Bottoli, CEO of Samsonite, said: “I am excited to continue Samsonite’s successful journey to create the world's leading travel lifestyle brand together with CVC Capital Partners.”

Hardy McLain and Luigi Lanari of CVC stated, “CVC Capital Partners is very pleased to have completed the acquisition of Samsonite, the world’s leading travel lifestyle brand.  We look forward to working with Marcello Bottoli and his team to realize the full potential of the business.”

About Samsonite

Samsonite is one of the world’s largest manufacturers and distributors of luggage and markets luggage, casual bags, business cases and travel-related products under brands such as SAMSONITE® Black Label, LAMBERTSON TRUEX®, SAMSONITE®, AMERICAN TOURISTER®, LACOSTE® and TIMBERLAND®.

About CVC Capital Partners

CVC Capital Partners ("CVC") is a leading global private equity and investment advisory firm founded in 1981, with a network of 18 Offices and 175 employees throughout Europe, Asia and the United States. CVC is currently investing from CVC Fund IV, CVC Asia II and CVC Tandem Fund with an aggregate of $15bn in equity capital. The CVC team’s local knowledge and extensive contacts underpin a 26-year proven track record of investment success. CVC has the ability to bring an enormous amount of cross-border resource together quickly to focus on winning transactions. The current European portfolio totals 38 investments and includes: Formula One, the world's leading motorsport rights management business; AA/Saga, a leading affinity brand business; Cortefiel, one of the largest specialized clothing retailers in Spain; Debenhams, Britain's leading department store group; and Seat Pagine Gialle, the leading directories business in Italy. The current Asian portfolio totals 14 investments and includes PBL Media, Australia's largest diversified media group (including Channel Nine and NineMSN) and DCA, Australia's leading healthcare company.

For additional information contact:

MEDIA CONTACTS

CVC Capital Partners

Brunswick Group LLC
Melissa Daly
Tel: +1 212 333 3810

Brunswick Group LLP
James Olley / Sophie Brand
Tel: + 44 207 404 5959

Samsonite Corporation

Gavin Anderson & Company
Cristina Loggia/Dick Millard
Tel: +44 207 554 1440
cloggia@gavinanderson.co.uk

Richard Brett
Director of Global Communications
Tel: +44 208 564 4243
richard.brett@samsonite.com

INVESTOR CONTACTS
Sarah Merefield
Director of Investor Relations and Strategic Planning
Tel: +44 208 564 4205
sarah.merefield@samsonite.com

Statements in this release that are not historical are forward-looking statements. These statements are based on management’s current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company’s operations, markets, products, services, prices and other factors as discussed in the Samsonite’s filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. In addition, the completion of any transactions described in this release is subject to a number of uncertainties and to negotiation and execution of definitive agreements among the parties and closing will be subject to approvals and other customary conditions. Accordingly, there can be no assurance that such transactions will be completed or that the company’s expectations will be realized. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.