Luxembourg, 21 February 2008 – SAF-HOLLAND S.A., one of the world’s leading producers and suppliers of high-quality systems and components for commercial vehicles (truck and trailer), has successfully agreed a refinancing that reduces its financing costs and improves its debt and cash flow profile. The financing consists of €263 m and $90 m in Syndicated Senior Credit Facilities with a tenor of five years. The proceeds will primarily be used to refinance existing debt post the successful IPO in July 2007.

Dresdner Kleinwort and UniCredit acted as Mandated Lead Arrangers, and the syndicate consists of 14 banks in all. The facility was significantly oversubscribed.

“This refinancing gives us significantly better terms, and represents a resounding vote of confidence in us by our banks, many of which have been with us since the start,” said Wilfried Trepels, CFO of the SAF-HOLLAND Group. “We can now focus fully on our growth strategy, which is centred on expanding capacity to meet strong and growing demand for our products worldwide.”

The steady growth of SAF-HOLLAND is underpinned by the continual increase in global trading volumes. In response to the strong order book, further strengthened by additional new framework contracts in January, SAF-HOLLAND is increasing capacity. SAF-HOLLAND will increase axle production capacity at its sites in Germany as well as Slovakia in the first half of 2008.

In addition to strong sales growth, the company also expects growth in profitability in 2008. For 2009, the company is aiming for total sales of €1 bn, and for 2010, it is aiming for an adjusted EBIT margin of 10%.