Baldwin: Banks Extend Term Of Credit Agreement

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Baldwin: Banks Extend Term Of Credit Agreement

Monday, August 04, 2003

Press release from the issuing company

SHELTON, CT, August 1, 2003 – Baldwin Technology Company, Inc. announced today that Fleet National Bank and Wachovia Bank National Association have agreed to amend its credit agreement by extending the maturity date of the loans to August 15, 2003. Vijay C. Tharani, Chief Financial Officer of the Company, commented: “We are in the final stages of negotiation with a new lender, and expect to conclude discussions and documentation within the next two weeks.” Mr. Tharani further noted that the Company plans to release earnings for its fiscal year ended June 30, 2003 on August 21st.

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