2006 begins with a number important changes at WAFIOS AG:

• Dr. Horst Birkmann will leave the Board after 40 successful years to begin an "active" retirement.
• Our current CEO, Mr. Hanns-Gerhard Rösch, will succeed Dr. Birkmann as Chairman of the Board.
• Mr. Thomas Hösle, our current CFO, will take over the CEO position of Mr. Rösch.
• Last but not least, our Sales Manager, Mr. Egon Reich, will join the Board of Directors. Mr. Reich will be responsible for WAFIOS sales, worldwide.

With these management changes WAFIOS carries through with it's long term plan of succession, characterized by a desire for continuity.