Luxembourg, 7 April 2008 – SAF-HOLLAND S.A., one of the world’s leading producers and suppliers of high-quality systems and components for the truck and trailer industries, has acquired the landing leg (trailer support) product line from Austin-Westran. The acquisition includes Austin-Westran’s China-based production operation, which significantly expands SAF-HOLLAND’s presence in the world’s third-largest and fastest-growing market for commercial vehicles.

Combined with SAF-HOLLAND’s world-class technology, the local knowledge and manufacturing base of the Austin-Westran unit will allow SAF-HOLLAND to deliver ever larger volumes of truck and trailer components into the booming markets of Asia and beyond. „This acquisition represents a significant strengthening of our China strategy. Based on discussions with existing and future customers, we are increasing our presence in the Chinese market with a wholly-owned manufacturing footprint to deliver our broad range of market-leading technology,” said Rudi Ludwig, CEO of SAF-HOLLAND S.A. “We aim to be the first choice partner of major truck and trailer manufacturers in China, and we are already in discussions with major OEMs to this effect.”

“Road transport volume in China will double from 1 to 2 trillion ton kilometres in the next five years,” said Jeff Talaga, head of SAF-HOLLAND China. “We intend to be part of that growth in a big way - this acquisition is a key piece of our strategy to make that happen.”

Austin-Westran manufactured landing legs at a site in Xiamen, China, which has an annual production capacity of around 150,000 pairs. SAF-HOLLAND has purchased that manufacturing site and associated assets in the US. Austin-Westran will continue its other U.S.-based product lines. The deal is expected initially to contribute an additional €11m to SAF-HOLLAND’s sales on an annualised basis, with significant growth as the Company implements further steps in its China strategy. The transaction is highly accretive from day one. The company’s internal analysis of the acquisition indicates a pay-back period of 18 to 24 months on the original investment.

SAF-HOLLAND reported results for 2007 on March 31, 2008. Sales rose 4.5% (on a constant currency basis 7.9%) to €812.5m, boosted by strong global demand for its high-quality product offering. The significant cash flow generation of the business also allowed the Company to deliver a dividend payment of € 42.47 cents a share. SAF-HOLLAND reiterated its guidance of double-digit sales growth in 2008 and 2009, with sales of €1 billion targeted in 2009, and an EBIT margin of 10% by 2010.

SAF-HOLLAND’s strong growth is underpinned by the continual increase in global trading volumes and especially strong market growth in Europe and emerging markets. In response to the exceptionally strong order book, SAF-HOLLAND is investing in its manufacturing capacity. Among other initiatives, SAF-HOLLAND will significantly increase axle production capacity at its sites in Germany and Slovakia in the first half of 2008.