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Electronics Production | August 27, 2007

Peter Frankfurter joins VOGT's Board

Peter Frankfurter has been appointed member of the Executive Board of German based EMS provider VOGT electronic AG.
During its meeting held on 23 August 2007 the Supervisory Board of VOGT electronic AG appointed Mr. Peter Frankfurter member of the Executive Board effective 1 September 2007.

The Executive Board of VOGT electronic AG will now again be be represented by two members. Dr. Hans-Joachim Dittloff continues to assume the role as Chairman of the Executive Board.

Mr. Frankfurter joins VOGT electronic AG from GEBHARDT Ventilatoren GmbH, Waldenburg, where he assumed the role of Commercial Manager. Before he held finance positions at Renolit Kunststoffwerke GmbH and Kömmrling Kunststoffwerke GmbH.

The company also said that VOGT wants to strengthen its equity capital base/Prolongation of financing by majority shareholder.

With the consent of the Supervisory Board, the Executive Board of VOGT electronic AG has passed a resolution today to use the authorised capital to increase the company's share capital of EUR 3,899,298.00 by up to EUR 1,949,649.00 by issuing up to 1,949,649 common bearer shares, with profit participation starting from January 1, 2007, in return for cash and/or contributions in kind at a subscription ratio of 2:1.

Shareholders Sumida VOGT GmbH, Neumarkt i.d.OPf., and ISMART Global Ltd., Tortola, British Virgin Islands, which currently jointly hold around 78% of the common and preferred shares of VOGT electronic AG, are permitted to exercise their subscription right by furnishing a contribution kind in the form of claims for repayment of loans extended to VOGT electronic AG. The remaining shareholders will be allowed to subscribe to shares in return for cash contributions. The subscription price for the new shares is EUR 9.00.

In addition, the majority shareholder Sumida VOGT GmbH and VOGT electronic AG, with the consent of the Supervisory Board of VOGT electronic AG, have entered into loan agreements that secure the prolongation by four more years of the financing by Sumida VOGT GmbH that was agreed upon in February 2006.

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