New CFO of Georg Fischer AG

His successor is Roland Abt, currently CFO of the Agie Charmilles Group. The new head of Finance at Agie Charmilles is Mauro Fontana, currently Head of Corporate Treasury and Investor Relations at Georg Fischer.

As part of its long-term succession planning, the Board of Directors of Georg Fischer AG, at its meeting on December 15, 2003, took the following decisions concerning personnel effective as of March 17, 2004:

Friedrich Rufer, born 1941, Head of Corporate Finance and Accounting and a member of the Executive Committee since 1995, has decided to retire as of the date of the Annual General Meeting on March 17, 2004. Friedrich Rufer joined Georg Fischer on October 1, 1992 as Head of Corporate Controlling and Deputy Head of Finance and Accounting.

Before joining the Corporation, he had held various leading management positions in internationally operating Swiss companies. In recent years he has systematically developed the Finance and Accounting unit at Georg Fischer, bringing it up to its current high level. He has also been instrumental in the successful conclusion of various acquisition and divestment projects on behalf of Georg Fischer.

The Board of Directors has appointed Dr. Roland Abt, born 1957, currently head of Finance and Controlling (CFO) at the Agie Charmilles Group, to succeed Friedrich Rufer as Head of Finance and Accounting and as a member of the Executive Committee. Roland Abt studied economics at the University of St. Gallen and between 1987 and 1995 worked for the Nueva Group where he held leading positions in both finance and accounting and was Managing Director and Head of Division in Switzerland and South America.

In 1996 Roland Abt joined the Georg Fischer Corporation as Finance Director of the Piping Systems Corporate Group. In 1997 he was appointed Head of Finance and Controlling at Agie Charmilles. Thanks to his broad training in finance and accounting, his many years of working abroad and his line experience, Roland Abt is very well equipped to handle the new and challenging tasks at Corporation level, which will in future include Investor Relations.

Mauro Fontana, born 1959, currently head of Corporate Treasury and Corporate Investor Relations, will succeed Roland Abt as Head of Finance and Controlling of the Agie Charmilles Group. Mauro Fontana studied economics at the University of Zurich and then worked in positions of responsibility at Fidinam Treuhand in Lugano (1984-1988), as General Secretary in various positions in finance at Saurer (1988-1995) and as General Secretary of Agie SA (1995-1997). Mauro Fontana switched to Georg Fischer AG in 1997, where he has continued to work as the General Secretary of Agie Charmilles Holding AG as well.