Provisional first half year results Gamma Holding

Anticipating the press release that will be published on 6 September 2001, Gamma Holding announces that the result after taxation for the first half of 2001 will be approximately 20 - 25% down on the corresponding period of last year, on a virtually unchanged turnover.

The margins in the segments Process and Conveyor Belts, Automotive and Industrial Applications were depressed, due to the economic developments.

On the other hand the segment Specialties continued the positive trend in results of recent years, as the segment Exotic Fabrics remained on last year's level.

The programme of measures to improve results by managing the level of costs, launched by the Managing Board, will give positive effects as of next year.

There are still no signs that the economic circumstances will improve. Therefore the chances are that the drop in the second half year will be no less than in the first half year.

In the meantime the divestment process for the interior decoration sector - after the sale of Sanderson, Léo Schellens and Eijffinger -  has almost been completed.

Board of Managing Directors, Gamma Holding N.V.

Helmond, 4 July 2001