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Further Strengthening of Portfolio at Mannesmann Rexroth

5 October 1999

Further Strengthening of Portfolio at Mannesmann Rexroth

    DUESSELDORF, Germany, Oct. 5 -- Mannesmann Rexroth Indramat,
a world-wide leading supplier of drives and controls for the production
automation sector, will acquire REFU elektronik.  REFU elektronik develops,
manufactures and sells complete drive units based on the frequency conversion
principle and generates sales of approx. 25 m euros with 250 employees.
    With this acquisition, Rexroth Indramat completes its product range and
increases the existing core competence.  The transaction is supposed to be
effective as of January 1, 2000 and still needs the approval of the cartel
authorities.
    Furthermore, Mannesmann confirms that Siemens will take over Rexroth
Automotive Technology.  In 1998, Rexroth Automotive Technology achieved sales
of approx. 26 m euros with 250 employees.  The transaction is supposed to be
effective as of October 1, 1999 and is subject to the approval of the
respective supervisory bodies and the cartel authorities.