New member of Grundfos Group Management

Mr. Prola joined the Grundfos Group in 1988 as General Manager of Grundfos in Italy and in 1995 he was appointed Regional Director of Grundfos' south European region. In 1999 he moved to Denmark to become head of the Water Supply/Waste Water segment.

Mr. Prola is a mechanical engineer with a number of supplementary courses in economy, marketing, and management.

With this appointment Grundfos Group Management will have the following members: Niels Due Jensen, Group President, Poul Vesterbæk, Vice Group President, Jens Jørgen Madsen, Carsten Bjerg, and - from Jan. 1 - Carlo Prola, Executive Vice Presidents.

About the Grundfos Group

With an annual production of 8 million pump units, Grundfos is one of the world's leading pump manufacturers, covering approximately 50 per cent of the world market for these pumps. In addidtion to pumps, Grundfos manufactures electric motors for the pumps and has a considerable production of electric motors for separate merchandising. Furthermore, Grundfos develops and sells state-of -the-art electronics for control pumps and pumps system.

The Grundfos Group is represented by 55 companies in 38 countries. In addition, Grundfos products are merchandised by distributors in a large number of countries.

Grundfos was established in 1945 by the late Poul Due Jensen. The Poul Due Jensen Foundation was established as a self-governing institution in 1975. Today, the foundation owns about 85 per cent and the founder's family the remaining 15 per cent of shares in Grundfos Holding AG. The aim of the foundation is to consolidate and expand the economic basis of the Grundfos Group. The capital and the profits of the foundation are to be utilised solely for the aim of the foundation, that is the profits are to be re-invested in the Grundfos companies. Grundfos Holding AG is the majority shareholder in all Grundfos companies.