IN FOCUS

The SKF B-shares are today traded in Stockholm, London, Paris and Zurich, and its American Depositary Receipts, ADR’s, on NASDAQ in the USA. SKF has decided to leave three out of the five stock exchanges.

By 2007, the annual orders for membrane desalination equipment will reach $1.8 billion. This in turn will drive the total cross flow membrane equipment market worldwide to over $8 billion in 2007.

Gardner Denver, Inc. announced that on September 24 it filed with the Securities and Exchange Commission (“SEC”) a shelf registration statement that would allow the Company to issue up to $150 million of its securities.

The Group’s continuing operations delivered a good financial performance growing input, turnover and profit despite challenging market conditions.

Thomas Industries Inc. today announced it expects operating income from its pump and compressor business to decline approximately 30 to 35 percent for the third quarter of 2003 versus the third quarter of 2002.

Phoenix, September 9 — ITT Industries, Inc. President, Chairman and Chief Executive Officer Lou Giuliano today reaffirmed the company’s earlier earnings projections for the third quarter and the full year 2003.

Roper Industries, Inc. announced record third quarter results. Diluted earnings per share (DEPS) from continuing operations for the third quarter ended July 31, 2003 rose 10% to $0.53 from $0.48 in the third quarter of fiscal 2002. Net DEPS, including discontinued operations, were $0.48 in the fiscal 2003 third quarter compared with $0.47 in the year-ago quarter.

Louisville, KY., Aug. 29 – Thomas Industries Inc. today announced that for the third quarter of 2003, ending September 30, 2003, equity earnings from Genlyte Thomas Group will include a non-recurring gain of approximately $2.2 million, due to the settlement of GTG’s patent infringement lawsuit against Acuity Brands and its Lithonia Lighting Division.

Hopes of a rapid economic upturn after the end of the war in Iraq have not been fulfilled. In most industrialized nations and many newly industrialized countries, the economic climate during the first half of 2003 remained under the influence of persistently weak demand. In the euro zone, structural problems and high unemployment further dampened hopes of an economic upswing. The economic situation in the pumps and valves sector continues to be dominated by overcapacity and price wars. It has been further exacerbated in Europe by the low dollar exchange rate and increased imports of products from low-wage countries.

The mid-year figures 2003 confirm the stable development of the Sulzer Corporation: While being lower in nominal terms, both order intake and sales increased in local currencies compared with the previous year. Operating income before goodwill amortization (EBITA) of the core divisions improved. Due to larger real estate earnings and a gain from business disposal in 2002, the net income does not match the level of the first six months in the previous year.