Gamma Holding 6% increase in profits in 2002

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

Despite difficult market conditions Gamma Holding achieved a satisfactory operating result of EUR 72.7 million in 2002 (2001: EUR 70.2 million). Turnover in 2002 increased by 5% from EUR 906 million in 2001 to EUR 954 million. The result after taxation rose by 6% from EUR 30.4 million in 2001 to EUR 32.1 million in 2002.

These results are better than was expected when the half-yearly figures were published on 6 September. The improvement in the result occurred entirely in the second half of the year 2002.

Among the individual segments, Specialties, Industrial Applications and Exotic Fabrics delivered positive performances, with increases in turnover and result. The results of Automotive and Process and Conveyor Belts were under pressure.

Gamma Holding will publish its definitive figures for 2002 and further details before the opening of the stock exchange on 14 March.

Board of Managing Directors, Gamma Holding N.V.

Helmond, 30 January 2003