Gamma Holding results as expected

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

Due to difficult market conditions, Gamma Holding's turnover decreased by 5% from EUR 904 million in 2003 to EUR 861 million. The operating result amounted to EUR 44.1 million (2003: EUR 70.3 million), in which restructuring costs of EUR 11.7 million (2003: EUR 2.1 million) are included. Net profit came to EUR 20.5 million, compared to EUR 34.1 million in 2003.

These results are in accordance with the expectations expressed upon publication of the half-year figures on 3 September 2004.

Gamma Holding's results were under pressure principally due to a large drop in sales at Exotic Fabrics and unfavourable currency movements.

The final figures for 2004 will be published with detailed explanatory notes on 25 February 2005, before the opening of trading on the stock exchange.

Executive Board, Gamma Holding N.V.

Helmond, 3 February 2005

Profile

Gamma Holding develops, manufactures and sells innovative, high-quality textile-based products throughout the world. It has 163 companies, including 43 production facilities, in 35 countries, with a total of 9,353 employees. Its headquarters are located in Helmond (The Netherlands) and its shares are listed on Euronext Amsterdam.

Gamma Holding comprises two sectors, Gamma Technologies and Gamma Comfort & Style. These are made up of seven business units specialising in belting, filtration, coatings and composites, and sailcloth technology, as well as sleep care, car and exotic fabrics. The company is a leading global player in its selected niche markets.