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20.05.2005 – 02:03

Kaba Holding AG

euro adhoc: Kaba Holding AG
Management Changes
Rudolf Weber appointed CEO of the Kaba Group as of mid-2006 - Ulrich Graf to become chairman after the General Meeting in 2006

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Rümlang, 20 May 2005  The Board of Directors of Kaba Holding AG has appointed Rudolf Weber the new CEO of the Kaba Group. Weber has been a member of the board since 1998 and is currently CEO of Fr. Sauter AG in Basel. He will assume the responsibility for the Group’s operations as of mid-2006. Also, the Board of Directors intends to nominate the current CEO, Ulrich Graf, as its chairman after the General Meeting in 2006. This will assure sustainability in the successful implementation of the Group’s strategy as well as continuity in appointments for top management positions.

Kaba’s Board of Directors has appointed experienced entrepreneur Rudolf Weber as the Group’s new CEO. Weber, 55, who has a degree in engineering (ETH) and a degree in business administration (HSG), has been the CEO of Fr. Sauter in Basel since 2001. With revenues of some CHF 300 million, Sauter is one of the major players in the European building automation market. Weber has also been a member of the Board of Directors of Kaba Holding AG since 1998. Kaba’s current chairman Rudolf Hauser: "The generational change at the helm was planned and prepared with a long-term perspective. Rudolf Weber is thoroughly acquainted with Kaba, which makes him an ideal choice. I am also confident that the timing is right. After the General Meeting in 2006, I can pass on the chairmanship with great optimism. We have decided to break the news early because this is in the interest of a well-implemented and harmonious transition."

Within the scope of this transition, the current CEO Ulrich Graf stands ready to be elected Chairman of the Board: "Continuity in its strategic directions is of decisive significance for Kaba. As chairman, I intend to keep the Group on a sustainable and successful course. Long-term planning in the recruitment of talent for top executive positions has always been a key issue for me as well; in my view, it is the most important success factor. Particularly in top management, I find it most appropriate to appoint candidates from within because they know the business and can aim for success immediately."

Ulrich Graf has held various executive positions within the Kaba Group since 1976. In the meantime, the company has evolved from a producer of mechanical parts (sales of the Bauer Group approx. CHF 40 million in 1975/76) to a high-tech security corporation (sales approx CHF 1 billion, net income CHF 57 million after Swiss GAAO FER in 2003/04). Graf can entrust to the hands of his successor a globally active, market-listed technology leader in the domains of locking systems, access control, enterprise data collection, security doors, automatic doors, and key cutting systems.

end of announcement                                euro adhoc 20.05.2005 00:30:00

Further inquiry note: Rudolf Hauser, President of Board of Directors; Tel +41 44 818 90 21 Ulrich Graf, President and CEO; Tel +41 44 818 90 21

Branche: Semiconductors & active components
ISIN:      CH0011795959
WKN:        1179595
Index:    SPI
Börsen:  SWX Swiss Exchange / official dealing