January 6, 2004 -- Building on the global success of Baldwin’s newspaper spray dampening technology, Baldwin Japan Limited, a subsidiary of Baldwin Technology Company, Inc., has received new orders for 200 spray dampeners from leading Japanese newspaper companies, including orders from the Asahi and Yomiuri Newspaper Groups. These orders bring the total number of spray dampeners from all Japanese newspapers placed with Baldwin Japan during the five months period, July to November 2003, to more than 700 units with a combined order value exceeding US $7 million. Tak Miyaoku, President of Baldwin Japan Limited, comments: “The newspaper segment is extremely competitive in Japan, therefore, we are very pleased and appreciative to have been awarded such significant orders from Japan’s leading newspaper companies.” Vijay Tharani, CFO of Baldwin Technology, Inc. adds: “These orders reflect the significance and continued strength of the newspaper segment to Baldwin’s business both in Japan and around the world.” In addition Tharani notes: “These orders will also benefit us in that many of them ship prior to the end of our fiscal year, June 30, 2004.”