Gamma Holding expands its Coating & Composite Technology business unit

Acquisition of Biscor, UK / France

Gamma Holding N.V. has acquired Biscor Ltd., UK, including its subsidiary in France, from its present owners, the Hastings and Heath families. Biscor will be integrated into the Coating & Composite Technology business unit.

Biscor manufactures, processes and markets glass, aramide and other high-performance fabrics enhanced with fluorocarbon and silicone coatings for various applications in the food and packaging industries, where resistance to extreme temperatures and severe chemical and biological environments is required. These high-performance materials are also known for their non-stick properties.

The company currently has consolidated sales of EUR 4 million, of which 50% is generated outside the UK. Biscor's manufacturing facilities as well as its sales and service centre are located in Bradford, West Yorkshire, England. Its French subsidiary is based in Buc, near Paris. The company employs a total of 35 people.

Biscor will complement in Europe the strategic acquisition of Green Belting Industries (present sales of EUR 9 million) which Gamma Holding undertook in May 2003 in the USA/Canada. Both acquisitions fit in well with technologies used in the Coating & Composite Technology and Belting Technology business units. They provide excellent access to attractive adjacent markets and will serve as platforms for further expanding Gamma Holding's PTFE (fluorocarbon) activities. PTFE is the fourth activity within the Coating & Composite Technology business unit, which further comprises coated textiles, billboards and bullet-proof materials.

Gamma Holding has financed the Biscor acquisition from available credit facilities. The transaction will have a positive effect on the current year's results.

Executive Board, Gamma Holding N.V.

Helmond, 15 January 2003

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.