Progress-Werk Oberkirch AG
Progress-Werk Oberkirch AG / Key word(s): AGM/EGM

23.05.2013 / 15:51

---------------------------------------------------------------------

- All resolutions approved with an overwhelming majority 
- Positive business development in 2012 despite a volatile sales market
- Good start in fiscal year 2013
- Dr. Georg Hengstberger newly appointed to Supervisory Board

Oberkirch, May 23, 2013 - Yesterday's 90th Ordinary Annual General Meeting
of Progress-Werk Oberkirch AG approved all resolutions with a majority and
over 99 percent of the share capital represented. In addition, the agenda
included the submission of the adopted financial statements, the
appropriation of profits, the discharge of members of the Management and
Supervisory Boards, and the appointment of the auditor for fiscal year
2013. Furthermore, the scheduled election of the shareholder representative
of the Supervisory Board took place.

Karl M. Schmidhuber, the Chief Executive Officer of Progress-Werk Oberkirch
AG, explained the material developments of financial year 2012 to
shareholders, shareholder representatives, and guests at the indoor arena
of the Cultural Forum in Offenburg. The focus of his comments was the
success of the PWO Group in a much more volatile market environment and how
it achieved record results in sales and earnings in fiscal year 2012. In
the first quarter of 2013, this positive trend continued with a further
increase in sales and earnings at the previous year's level.

Also on the agenda was the election of the shareholder representative of
the Supervisory Board since the term of office of Supervisory Board members
had expired at the end of yesterday's meeting. The long-time Deputy
Chairman of the Supervisory Board representing Consult Invest
Beteiligungsberatungs-GmbH, Dr. jur. Klaus-Georg Hengstberger, retired from
the Board for age-related reasons. Dr. Georg Hengstberger was elected as
his successor. The remaining members of the Supervisory Board were
reelected by the Annual General Meeting. At the conclusion of the Annual
General Meeting, the Supervisory Board, at its constituent meeting,
appointed Dr. Gerhard Wirth as the new Deputy Chairman of the Supervisory
Board. Mr. Dieter Maier continues to occupy the Chair of the Supervisory
Board.

Progress-Werk Oberkirch AG
The Management Board


End of Corporate News

---------------------------------------------------------------------

23.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------


Language:    English                                                      
Company:     Progress-Werk Oberkirch AG                                   
             Industriestraße 8                                            
             77704 Oberkirch                                              
             Germany                                                      
Phone:       +49 (0)7802 84-0                                             
Fax:         +49 (0)7802 84-273                                           
E-mail:      info@progress-werk.de                                        
Internet:    www.progress-werk.de                                         
ISIN:        DE0006968001                                                 
WKN:         696800                                                       
Listed:      Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;  
             Freiverkehr in Berlin, Düsseldorf, Hamburg, München          
 
 
End of News    DGAP News-Service  
---------------------------------------------------------------------  
212793 23.05.2013