Gamma Holding undertakes strategic expansion in filter activities

Gamma Holding N.V. is taking over the company Crosible Inc., based in Moravia (New York, USA), from the present shareholders, the Cross family. The acquisition of Crosible is consistent with Gamma Holding's strategy aimed at the expansion and strengthening of the Gamma Technologies sector.

Crosible will be added to the screen and filter technology segment, which consists of Techfab/IFC, with production facilities in Germany and the USA, and the Madison Filter Group acquired in 2001. The acquisition of Crosible represents a considerable strengthening of the market position, notably in North America.

Crosible manufactures and distributes filter products in the field of wet and dry filtration which are used in, among others, water purification installations, the chemical industry and the steel and cement industry. With a workforce of 150 people, Crosible posts sales of approximately USD 15 million.

Gamma Holding has financed the purchase from available credit facilities. Crosible will be included in Gamma Holding's consolidated accounts from 1 January 2003. The transaction will have a positive impact on earnings per share.

Board of Managing Directors

Helmond, 6 January 2003