Goss International Corporation (“Goss”) today announced a restructuring of management. The Board has appointed Mr. Richard Nichols as CEO of the Company, effective immediately, replacing Mr. Jochen Meissner.

The Board expects that the Goss management team, headed by Mr. Nichols, will undertake active and effective measures to stabilize and expand the Goss leadership position in the industry. Relying on Shanghai Electric’s support and Goss` owndistinctive capabilities, Goss will optimize the allocation of resources to enhance innovation and responsiveness to customers and market demands, within a culture that fosters an inspiring and challenging working environment. This will propel the company to a new level of performance, to meet and exceed the strategic goals of the Board.

Shanghai Electric believes that the impact of financial crisis will subside and the development of the world economy will bring new opportunities. Shanghai Electric has confidence in Goss and the printing industry and expects Goss to be an even stronger industry leader in the future.