Ad Hoc Committee of Vitro Noteholders Oppose Anticipated Consent Solicitation

NEW YORK, Aug. 5, 2010 (GLOBE NEWSWIRE) -- TO ALL VITRO NOTEHOLDERS:

The Steering Group for the Ad Hoc Committee of Vitro Noteholders (the "Steering Group") is comprised of holders, or investment advisors to holders, of more than $500 million of the Senior Notes due 2012, 2013 and 2017 (collectively, the "Senior Notes") issued by Vitro, S.A.B. de C.V. ("Vitro"). The Steering Group would like to provide all holders of Senior Notes ("Noteholders") with an update with respect to the status of negotiations with Vitro and its shareholder representatives, regarding a comprehensive restructuring of Vitro's debt.

There is no doubt that Vitro must realign its debt, to reflect its debt service capacity, in light of the current and forecasted economic environment and conditions affecting its various businesses. Certain members of the Steering Group have been engaged in extensive restructuring negotiations with Vitro for some time now. Although some progress has been made in the past 18 months of negotiation, there remains a significant economic gap between the restructuring terms the Steering Group would support (based on realistic medium term sustainable debt capacity) and what Vitro and its shareholder representatives are seeking to achieve.

Although the Steering Group has urged Vitro to offer restructuring terms and conditions that it is willing to support and publicly recommend to the broader group of Noteholders, Vitro has apparently determined to launch a consent solicitation that will offer Noteholders a huge discount to the face amount of their Senior Notes, hoping that small "retail" and other uninformed Noteholders will accept this lesser amount. The Steering Group strongly recommends that Noteholders reject any consent solicitations that are not publicly endorsed by the Steering Group. To date, the Steering Group has shown patience and restraint as Vitro made efforts to negotiate a resolution, but members may be forced to exercise remedies against Vitro for failing to honor its contractual obligations.

The Steering Group (represented by White & Case LLP and Chanin Capital Partners LLC) is encouraging all Noteholders (large and small) to establish direct contact and provide email addresses so that future information can be communicated directly, quickly and efficiently. The foregoing shall not be construed as tax, legal, business, financial, accounting or other advice, and Noteholders are encouraged to consult their own advisors.

Sincerely,

Steering Group for the Ad Hoc Committee of Vitro Noteholders

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