Dear Sirs,

a successful business year for our company is drawing to its close.

With their great efforts and constructive methods, our employees throughout the world have contributed to inviting good fortune. And good fortune has accompanied us in the past year.

Without our customers, suppliers, partners and friends, we would have been unable to achieve such an economic success. You have thus also played your part in enabling us to turn the principle of sustainability into reality.

We would like to thank you for your good and trusting cooperation with us!

We are looking forward to successful business dealings in 2008 and wish you a Merry Christmas, a Happy New Year and the necessary portion of luck next year.

Your J. Schmalz GmbH

Dr. Kurt Schmalz          Wolfgang Schmalz

P.S. In keeping with our long-standing tradition, we are making donations to various social services and to the German Society for the Fight against Cystic Fibrosis instead of sending Christmas gifts to our business partners.