PWO steps up its activities within the capital market

Committed to its strategy of "Leveraging Opportunities for International Growth", Progress-Werk Oberkirch AG is penetrating a number of new markets around the globe. As a result of this incisive approach, the company looks set to generate considerable forward momentum in the coming years.

In parallel with this strategy, the Management Board has also implemented a far-reaching programme to raise investor awareness of the company's stock, the objective being to ensure that the future prospects of PWO are fully reflected in share valuation. With this in mind, PWO has appointed HSBC Trinkaus & Burkhardt AG as an additional Designated Sponsor. Furthermore, the company intends to play an active part in the BWSC, an interest group that brings together small and mid caps based in the German state of Baden-Württemberg.

In commenting on the latest move, Bernd Bartmann, CFO of PWO, said: "We are delighted to have secured the services of internationally renowned HSBC Trinkaus & Burkhardt as an additional Designated Sponsor working together with Landesbank Baden-Württemberg. We are confident that this approach will be of direct benefit to our stock. For us as a Baden company steeped in tradition, membership in the BWSC represents an additional linchpin in terms of our future capital market positioning. We look forward to a diverse range of activities with leading SMEs from the south-west of Germany."

Oberkirch, October 16, 2006
The Executive Board


Progress-Werk Oberkirch AG
Industriestraße 8
77697 Oberkirch
Germany

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