PWO wins another large-scale order for European sites

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- Success due to technical expertise and competitive costs
- Lifetime volume of more than EUR 100 million. Series production
ramp up in 2011

Oberkirch, February 24, 2009 - Progress-Werk Oberkirch AG achieved
another great suc-cess as a result of its great technical expertise
and its competitive cost structures. After a leading international
automotive group picked PWO to co-develop and manufacture the
European volume of module carriers for a new global vehicle platform
in 2007, PWO has now received another large-scale order. A German
premium manufacturer has chosen PWO as the supplier of the axle tubes
for its mass production platform. The total volume of this order is
in excess of EUR 100 million and ensures high capacity utilisation at
both PWO European sites in the future. Ramping up series production
is planned for 2011.

Progress-Werk Oberkirch AG
The Management Board

Contact: Bernd Bartmann, Member of the Management Board
Phone: +49 7802 / 84-347
Fax: +49 7802 / 84-789
e-mail: bernd.bartmann@progress-werk.de

PWO Group profile: a global future in the automotive supplies
industry
PWO is one of the world's leading suppliers of high-precision metal
components for the automobile industry, specialising in vehicle
safety and comfort. Its unmatched expertise in the fields of
metal-forming and joining technology has been acquired over nearly
ninety years since the company's foundation in 1919. Today, PWO's
German production site in Oberkirch employs around 1,100 staff. With
other sites in the Czech Republic, China, Mexico and Canada, the
Group has now achieved a global presence with a total workforce of
around 1,900.

PWO acts as a partner to the automobile industry in the development
and production of innovative products. The Group manufactures
millions of components on a just-in-time and zero-defect basis. In
close collaboration with customers, PWO is expanding its
international production sites in order to supply local markets. PWO
has already achieved significant success on its way of global
expansion. The company has orders on hand which will lead to strong
growth of revenue and EBIT once the industry will return to
normalised sales figures.

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Progress-Werk Oberkirch AG
Industriestrasse 8 Oberkirch
Germany

WKN: 696800; ISIN: DE0006968001; Index: CLASSIC All Share, Prime All
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