Selb, Germany and Richmond, VA —COLFAX has signed an agreement to acquire all share of NETZSCH Group in a transaction that is expected to close in May 2003. The four business units of NETZSCH are Analysis and Testing, Filtration, Grinding and Dispersing, and Pumps. COLFAX is a provider of fluid handling and power transmission

products. For the fiscal year ending June 30, 2002, NETZSCH posted revenues of approximately €210 million ($198 million = €1.06 = $1). “We see in COLFAX the ideal partner, in order to further strengthen the global presence and growth of the Group,“ said Thomas Netzsch, executive shareholder of the company, who also noted the similar

culture, strategy and goals of the two companies. COLFAX President and CEO John A. Young ommented, “The NETZSCH Group is extremely complementary to both our existing product offerings and our customer base. NETZSCH also provides COLFAX with broader international scope.“