Ad-hoc | 12 December 2003 07:33

technotrans and Baldwin Execute Letter of Intent

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– technotrans and Baldwin Execute Letter of Intent for Acquisition of Baldwin at $2.50 Per Share technotrans and Baldwin plan to build world leading supplier to the printing industry – Combined entity would have broader product offering and larger global market footprint Sassenberg/Germany and Shelton, CT/U.S., December 12, 2003. A transatlantic merger to build a world-wide leading supplier to the printing industry: technotrans AG [Deutsche Börse: TTR; ISIN DE0007449001] and Baldwin Technology Company, Inc. [AMEX: BLD; ISIN US0582641025] today announced that they have signed a non-binding Letter of Intent (LOI) whereby technotrans would acquire, through a one-step cash merger, all outstanding shares of Class A and Class B Common Stock of Baldwin for a price of $ 2.50 per share in cash. Management of both companies has come to the conclusion that, should Baldwin and technotrans reach a definitive agreement, the proposed transaction would be in the best interest of their shareholders. Due to higher demands for efficiency from their customers, offset printing press machinery suppliers are facing increased pressure to provide comprehensive, integrated solutions. By combining Baldwin’s excellent know-how, especially in automated cleaning systems, with technotrans’ successful liquid technology, both companies together could better address customer demands. The combined entity would have an increased presence in Germany, Japan and the U.S., the world’s most important markets of the graphic arts industry. Additionally, by combining their respective product offerings and sales forces, technotrans and Baldwin would broaden their customer base. The combined entity’s shareholder value is expected to be enhanced through optimised use of resources. The contemplated transaction is subject to confirmatory due diligence, execution of definitive acquisition documentation, respective board approvals, financing by technotrans, and other requirements and contingencies typical in a transaction of this nature. The signing of a binding merger agreement is expected in January 2004. technotrans contact: Thessa Roderig, +49 (0) 2583 301 887, www.technotrans.com end of ad-hoc-announcement (c)DGAP 12.12.2003 ——————————————————————————– WKN: 744900; ISIN: DE0007449001; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 120733 Dez 03