Trademarks: Gravograph – Technifor – Pro-Pen – Vision Numeric

The first quarter of 2009 will remain etched in our memories as a difficult time in the world economy, which is similar to the last quarter of 2008.

GravoTech Group could not escape the violent tornado that affected the industrial and retail markets. GravoTech has seen sales decline by 21% in the first quarter of 2009 as compared to the first quarter of 2008.

In spite of the very depressed climate, GravoTech has shown a strong resilience as a result of the following factors:

• A restructuring of our group in six major countries conducted since January 2008: United Kingdom, Germany, Japan, Italy, France and the United States. The restructuring has been completed in four countries and remaining two countries United States and France will be completed on June 30th and September 30th, 2009, respectively.
• Strong consumables sales.
• Strong customer service.

However, the global economic situation calls for a continued vigilance and a selection of priorities.

The achievement of the Group targets in 2009 continues with:

• Increase in R&D investment representing now almost 10% of the turnover of the group.
• Integration and merger of our main brands Gravograph, Vision Numeric & Technifor in regional structures sharing marketing, distribution, services and management.
• Extension of the direct geographical presence of the group, particularly in Asia.
• Study of external development opportunities.

The main core businesses of the group (engraving solutions for signage identification and industry, engraving concepts for personalization of items in shops, complete traceability systems for industry, artistic CAD-CAM software for retail and Industry) not only requires a cross-development of products, but also their distribution. This requires full coordination with our suppliers with whom we share the same goal to best serve the end customer.

In 2009, the GravoTech Group will continue its programs of the rationalization of its production sites and distribution in the 3 major platforms (Americas - Europe - Asia) and will expend its worldwide commercial development and marketing of new products with a special focus on laser. The difficult economic condition does not reduce the ambitions of our group.

Best regards,