Saurer Enters Joint Venture For Spinning Components

Saurer Management AG, Switzerland, announced the company has formed a joint venture company with
China-based Jinsheng, a manufacturer of staple fiber spinning machines and components. Saurer owns
a 70-percent stake in the venture, which will manufacture mid-range and low-end staple-fiber
equipment and components.

Jinsheng’s activities in these segments had a turnover of 16 million euros in 2005.

March/April 2006