General Meeting of Shareholders of Gamma Holding

During the annual General Meeting of Shareholders of Gamma Holding N.V., which was held today, the dividend for the financial year 2002 was fixed at EUR 1.80 per ordinary share of EUR 2.50 and at EUR 0.21 per ordinary participating preference share of EUR 2.50.

The date of the ex-dividend listing is Thursday 8 May 2003, and the dividend is payable from 20 May 2003. 

The Supervisory Board of Gamma Holding has also appointed Mr M. Veninga, currently a member of the Board of Managing Directors, as chairman of the Board of Managing Directors with effect from 6 May 2003. Mr Veninga succeeds Mr J.G.M. van Oijen, who - after nine years' service - has stood down as chairman of the Board of Managing Directors of Gamma Holding in connection with his retirement.

With the approval of the General Meeting of Shareholders the Supervisory Board has appointed Mr M.H. Zegger as a member of the Board of Managing Directors of Gamma Holding with effect from 6 May 2003. Until he joined Gamma Holding on 1 October 2002, Mr Zegger (46 years of age) worked for Akzo Nobel, holding a variety of positions in the Netherlands, Singapore, Russia and Germany. From the end of 1997 he was - within the now independent Acordis fibre group - Chief Executive Officer of Membrana GmbH, which is the global market leader in the field of membranes for medical and industrial applications. The Board of Managing Directors of Gamma Holding now comprises Messrs Veninga and Zegger.

Messrs J.W. Westerburgen, P.A.W. Roef and R.K.T. Oetker have retired by rotation as members of the Supervisory Board. They did not wish to be considered for reappointment. The Supervisory Board has decided to reduce the number of members of the Supervisory Board to 5; as a result, a total of two vacancies have to be filled. The Supervisory Board has filled one of the vacancies, again with the approval of the General Meeting of Shareholders, by appointing Mr J.H.M. Lindenbergh (59) as a member of the Supervisory Board. Mr Lindenbergh has been a member of the Board of Management of ING Groep N.V. since 1995. On 1 July 2003 he will relinquish his managerial post at ING Groep in connection with his retirement. The Supervisory Board intends to put forward a second nominee for appointment to the Supervisory Board in due course.

During the meeting the Board of Managing Directors announced that the results of Gamma Holding in the first three months of 2003 have been satisfactory. However, the Board of Managing Directors repeated its earlier statement that, in view of the uncertain global economic outlook, it is still too early to make specific forecasts regarding Gamma Holding's results for the whole of the financial year 2003. Nevertheless, the Board of Managing Directors remains confident that the various sectors and segments will continue to develop positively.

Supervisory Board and Board of Managing Directors of Gamma Holding N.V.

Helmond, 6 May 2003