Change of Leadership at Pfleiderer track systems

Neumarkt, March 14, 2005 - Mr Herbert Peels, born in 1963 in Ootmarsum (NL), takes over as Chairman of the Divisional Board of Management of Pfleiderer track systems. The change, which takes effect from March 15, 2005, underpins the increasing process of internationalization of the company's sleeper systems business. Pfleiderer track systems is a 100-percent affiliate of Pfleiderer AG, which is based in Neumarkt in the Oberpfalz and due to be listed in the MDAX.

Peels was previously Vice President & General Manager Europe of General Electric Wind Energy GmbH, where he was responsible for its activities in Europe, the Middle East and Africa. Over the last two years, Peels, an applied economics graduate, has created a dynamically expanding company with lean customer-driven structures centered around three production sites and with over 20 distributors in Europe.

About the PCM RAILONE Group

The PCM RAILONE Group has been manufacturing concrete sleepers and track systems for urban transit and long-distance rail transportation for over 60 years. The technology leader also offers its expertise in the fields of engineering and plant construction. Its customer-driven innovations fulfill the highest quality standards and are installed around the world

The PCM RAILONE Group is comprised of several companies and eleven production facilities with a presence in Germany, Romania, Saudi Arabia, Spain, South Korea, Hungary, Turkey, the United States, Canada and lndia. lt maintains annual capacities of over 5 million track sleepers and 840,000 linear meters of turnout sleepers. RAILONE produces optimized products and custom solutions with over 550 employees around the world.