The first-half results of the Georg Fischer Corporation reflect the global crisis in the markets. Sales were 39% below the level reported in the excellent first six months of 2008. The operating result (EBIT) comes to CHF –122 million, a figure that includes CHF 59 million in one-off special charges for the current structural programme.

At Georg Fischer, negative currency effects, volatile raw material prices and the slump in the fourth quarter caused

both growth and earnings to decline sharply in the past business year.

The international financial crisis and the worldwide economic slowdown have had a major impact on the automotive industry and on the machine tool sector. Since October 2008, Georg Fischer has been confronted with a slump in demand in these markets.

Markus Sauter, who has been Head of Communications at Georg Fischer AG, Schaffhausen, for many years, has expressed the wish to retire in the spring of 2009. Markus Sauter joined Georg Fischer on 1 September 1990 as the Head of the Communications service division with responsibility for the Corporation s internal and external communication.

Georg Fischer achieved top-line growth of 6% in the first half of 2008, with sales amounting to CHF 2.4 billion. Currency effects and soaring material and energy costs had a negative impact of over CHF 60 million on earnings.

Jürg Krebser, Head of GF AgieCharmilles and for 14 years a member of Georg Fischer’s Executive Committee, will, at his own request, relinquish his post on 1 August 2008. He will be succeeded by Michael Hauser, who will also join the Executive Committee.

Georg Fischer acquires the business activities of Alfa Plastics Inc. in Brampton (Toronto), Ontario.

GF to acquire Central Plastics, the North American market leader in supplying piping systems to gas and water utilities.

Friedrich Rufer, Head of Finance and Accounting at Georg Fischer AG and a member of the Executive Committee, will retire at the next Annual General Meeting on March 17, 2004.

In the course of the ongoing structural programme designed to increase earnings in the Georg Fischer Corporation, Schaffhausen, the Piping Systems Corporate Group will close its plant at George Fischer Castings Ltd, Bedford (UK), by the mid 2004 and transfer production of malleable cast fittings for the gas and water distribution industries to its Traisen (A) plant.