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Before I make a brief comment on this last financial year, I would like to say a few words about our newspaper Franke International. I am sure you noticed straight away that Franke International is wearing its new "designer outfit". At the beginning of last year, after more than 20 years, we took the plunge of reworking our corporate design and identity. At the moment we are in the "hot" implementation phase and have taken some successful steps. One thing we absolutely will not change, however, is our logo. The logo is not only our distinctive and recognisable emblem, but also a proven trademark. It represents our key values of leadership, service consciousness and intelligent solutions. These key values were always our “working credo” and have now been defined in writing as part of our overall review. What is quite clear is that the customer is always number one – after all, in the final analysis our continued development is totally dependent on customer satisfaction. Now to the financial year 1999 in broad terms: we are pleased with the trends in sales, earnings, liquidity and the financial structure. The Kitchen Systems division improved its earnings position and showed good sales growth. Contract Group showed the best improvement both in sales and in profit. Unfortunately, because of structural problems, the Beverages Containers division remained below last year in sales and earnings. Diversified Products, on the other hand, achieved a sales and profit result above that of last year. We are confident about the current year. Sales and earnings have already developed well in the first half year and this includes the Beverages Containers division. We expect growth of over 15.0% for the whole year, but we are currently faced with considerably increased prices for materials. At this point I would particularly like to thank our customers. Your trust in our products and our service, and the loyalty you showed us once again last year represent our guarantee for the future. I would also like to thank our employees most warmly. Your skills and the high level of commitment you have demonstrated contribute to keeping Franke in its position as an industry leader. Michael Pieper President Last changes: © Franke Holding AG