Roland W. Hess withdraws his candidacy for election

Roland W. Hess has informed the Board of Rieter Holding Ltd. that he is no longer available as a candidate for that body. He will thus not stand for election at the Annual General Meeting on May 8, 2008. He stated that this decision had been taken for personal reasons. As already announced, it had been planned to elect Roland W. Hess as Chairman of the Board. Rieter’s Board of Directors has taken note of this decision by Roland W. Hess.

Erwin Stoller will be the new Chairman of the Board of Rieter Holding Ltd.

The 1123 shareholders attending 8th May Annual General Meeting of Rieter Holding Ltd. approved all motions proposed by the board. They elected Erwin Stoller, who is nominated as Chairman, to the board. Shareholders also reelected Dr. Rainer Hahn to the board. A dividend payment of CHF 15.00 was approved and will be disbursed on May 15, 2008.

The Annual General Meeting of Rieter Holding Ltd. was attended by 1123 shareholders. They approved the annual report, the annual accounts, the consolidated financial statements for 2007 and a dividend distribution of CHF 15.00 per share, payable on May 15, 2008.

Shareholders approved the reduction in capital by destroying 167 800 registered shares of the company which have been purchased in the context of the share repurchase program. They also approved the amendment to the Articles of Incorporation associated with this. Rieter Chairman Kurt Feller resigned on the occasion of the Annual General Meeting upon reaching retirement age. Shareholders elected Erwin Stoller, a member of the Group Executive Committee until the end of 2007, as a new member of the Board of Directors. Erwin Stoller is nominated as Chairman. Shareholders also re-elected Dr. Rainer Hahn to the board for a further three-year term of office and formally approved the actions of the directors for the 2007 financial year.

The Board of Directors and the Group Executive Committee expressed their thanks to Kurt Feller at the Annual General Meeting for his many successful years of service, both as CEO from 1989 to 2000 and since then as Chairman of the Board.