Econosto and Glide have announced that a conditional agreement has been reached between Econosto and Glide in respect to a public offer by Glide for the entire issued and outstanding share capital of Econosto at an offer price of EUR 7.25 per share in cash. Based on this offer the total share capital of Econosto is valued at EUR 117 million. The intended offer of EUR 7.25 represents the highest share price for Econosto is almost seven years and implies a premium of 38.4% over the closing price of Econosto shares on 11 January 2008, a premium of 38% over the average losing price over the last month, and a premium of 35.5% over the average closing price over the past 12 months before the intended offer. The offer is cum divided: no dividend for 2007 will be distributed by Econosto and no further dividends are expected to be declared prior to the completion of the offer. The Intended Offer will have a number of advantages for Econosto, its shareholders, employees, customers and other stakeholders: Glide supports the overall strategy of the Management Board of Econosto; Glide will provide Econosto with financial resources to help Econosto accelerate its international growth strategy, which comprises inter alia both organic growth and international growth through acquisitions; Glide has an extensive track record in the industrial sector and has the means to support the management in growing Econosto and; the Intended Offer provides current shareholders the opportunity to immediately relaise future valve of their shares. Glide and Econosto intend to finalise documentation in regards to the Intended Offer within the month of January 2008. Subsequently the offer will be made and the offer memorandum will be published. It is currently expected that this will take place in mid-march. Once the Intended Offer is declared unconditional, it is intended that Econosto’s share will be delisted.