Gamma Holding 6% increase in profits in 2003

Ahead of the publication of its full annual results Gamma Holding wishes to make the following announcement.

Despite difficult market conditions, Gamma Holding's net profit rose by 6% to EUR 34.1 million in 2003, from EUR 32.1 million in 2002. At EUR 70.3 million (2002: EUR 72.7 million) the operating result was satisfactory. Turnover decreased by 5% to EUR 904 million in 2003, from EUR 954 million in 2002, mainly due to the negative effect of the US dollar.

These results surpass the expectations expressed at the publication of the half-yearly figures on 5 September 2003.

The performance of the Gamma Comfort & Style sector showed an upward trend. The results of the Gamma Technologies sector were under pressure, mainly due to a subdued investment climate among customers and unfavourable currency movements.

The definitive figures for 2003 will be published by Gamma Holding with detailed explanatory notes on 5 March 2004, before the opening of trading on the stock exchange.

Executive Board, Gamma Holding N.V.

Helmond, 29 January 2004

Profile

Gamma Holding develops, manufactures and sells innovative, high-quality textile-based products throughout the world. Gamma Holding comprises two sectors (Gamma Technologies and Gamma Comfort & Style) and seven business units with 112 operating companies. The company has more than 9,000 employees spread over 36 countries. With activities in the fields of Belting, Filtration, Coating & Composite and Sailcloth Technology, as well as Sleep Care, Car and Exotic Fabrics, the company is a leading global player. Its headquarters are located in Helmond (The Netherlands) and its shares are listed on Euronext Amsterdam.