PALFINGER AG - New Management Team

New Management Team at Palfinger to Start Market Offensive

Bergheim/Salzburg (pts053/04.02.2003/18:42) The Supervisory Board of PALFINGER AG has appointed Wolfgang Pilz and Herbert Ortner to the Group's management board as of 1 February 2003 and is reemphasising the group's strategic orientation. Pilz and Ortner will mainly focus the group's activities on the rapid changes in market requirements. Pilz, for merly the manager responsible for marketing and distribution in the Truck Cranes division, will concentrate on the group's core business of truck cranes and hook-loading equipment. Ortner is going to pursue the growth of future earnings providers such as Crayler, Palgate, Mobiler, E-Logistics, as well as the established railroad equipment division and ensure their continued success and push for further market penetration. He will drive the further expansion of Palfinger's service and distribution businesses.

The Supervisory Board has also reinforced the strategy of the group, namely: "Innovative solutions to management of the interfaces across the entire transport chain." Market penetration of Palfinger growth products will be pursued and followed through more aggressively.

The current Chairman, Klaus Schützdeller, has asked the Supervisory Board to accept his resignation for personal reasons with immediate effect. The Supervisory Board has accepted this request and has agreed to an amicable termination of Mr Schützdeller's contract. Mr Schützdeller significantly contributed to the success of the Group from 1996 onwards. The position of Chairman will be filled by someone new during the course of the year. In the meantime, Klaus Schützdeller's tasks will be taken over by the new management team.

Contact:
Hannes Roither, PALFINGER AG
Public & Investor Relations
phone +43 (0)662 4684 2260
h.roither@palfinger.com
http://www.palfinger.com
www.palfinger.com

Aussender:	pressetext.europe
Ansprechpartner:	Hannes Roither
Tel.:	+43 (0)662 4684 2260
E-Mail:	h.roither@palfinger.com