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Baldwin Elects Gerald Nathe as CEO, John Heald Resigns

Press release from the issuing company

SHELTON, Conn.- Oct. 25, 2002--Baldwin Technology Company, Inc. announced today that Mr. John T. Heald, Jr. has resigned as President, Chief Executive Officer and a Director of the Company. Mr. Gerald A. Nathe, Chairman of the Board, and currently a Director of the Company, has been elected to the offices of President and Chief Executive Officer, following the resignation of Mr. Heald. Mr. Nathe was formerly Chief Executive Officer of Baldwin from 1995 through 2001 and served as President from 1993 through 2001. Baldwin Technology Company, Inc. is the leading international manufacturer of controls and accessories for the printing industry.