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Heidelberg and Gallus Strengthen Long-Term Cooperation

Press release from the issuing company

The Management Board of Heidelberger Druckmaschinen AG (Heidelberg) and the owner, Ferdinand Rüesch, of Gallus Holding AG (Gallus), world market leader in the production of label printing presses, have agreed to further intensify their successful business partnership. Heidelberg has been holding a 30 percent participation in Gallus since 1999. Through the agreed corporate leadership, Gallus will be fully consolidated in the current financial year 2002/2003. "With 6 to 8 percent growth, flexo printing represents a rapidly growing segment of the print media industry," Bernhard Schreier, Heidelberg's CEO, stated. "By further intensifying our cooperation with Gallus, we will be able to benefit even more from the growing demand for labels and packaging." The world market for flexo printing presses is generally estimated at approximately €800 million, with Europe accounting for about €250 million. The market leading Gallus printing presses are used primarily for printing labels. Heidelberg will continue to operate Gallus as an affiliated company. Management and brand policy will remain unchanged. "With sales totaling approximately €120 million, the Heidelberg Group is consolidating a sound company with favorable future prospects," said Heidelberg's CFO, Dr. Herbert Meyer. About Gallus In 2001, with approximately 500 staff members, Gallus realized sales of €120 million. The company develops and produces narrow web printing presses, mainly used for printing labels by way of flexo printing, letterpress printing, screen printing and offset printing. Gallus is reacting to the increasingly high quality standards of its customers by combining these printing technologies in its printing presses and by offering other options, such as processing and hot-foiling. The modular structure of the Gallus printing presses makes usage possible in other segments of packaging printing (e.g. folding carton printing), as well. With a 30 percent market share, the company is the world market leader in label printing.