Will the departure of Paul Assarsson have any other effect on the operation of the Company or the organisation?


Shareholder, Willy Persson

As we announced in the 7 May 2004 Press Release, Paul Assarsson is leaving SinterCast to become the Managing Director of Euro Parking Collection plc. We are pleased that Paul has been given the opportunity to run his own company and every SinterCast employee wishes him future success, both professionally and personally. As stated in SinterCast’s 2003 Annual Report, Paul’s notice period is six months and he will therefore continue to serve in his current capacity until 31 October 2004. Thereafter, he will remain employed and available on an ad-hoc basis until 31 December 2004. This will provide sufficient time for the recruitment and training of a new Financial Director and a controlled transition of responsibilities.

The new Financial Director will be based at SinterCast’s Technical Centre in Katrineholm. The transfer of the financial management to Katrineholm will not have any other effect on the management or the operational structure of the Company. The head office will continue to be based in London, which is the most efficient location for the overall support of Customer activities, the ongoing sales efforts in Europe, Asia-Pacific and the Americas, and the overall group management function. From an operational point of view, our Customers will not be affected in any way by the transition.