Rijswijk – Following Lord Simpson’s decision to retire from the Board at the end of the current fiscal year, the Board of Directors held on 23 March 2005 has co-opted, with effect as of 1st April 2005, Mr Francis Mer as a member of the Board to replace him.

This appointment will be submitted for ratification at the next Shareholders’ Meeting. Patrick Kron, Chairman of the Board, expressed his understanding of Lord Simpson’s decision to withdraw from the Board at this time when the Company has well advanced in its recovery and extended to Lord Simpson the Board’s thanks for his contribution since 1998.

Patrick Kron also extended the Board’s welcome to Francis Mer and noted that his broad experience in industry and international activities will be highly valuable in the Company’s move towards full recovery and future development.