Vaillant and Wavin in discussions regarding Hepworth Building Products

Remscheid, 28 October 2004

Vaillant Group, a leading heating technology company, and Wavin Group, Europe's leading supplier of plastic pipe systems, confirm they are in discussions regarding the possible sale of the Vaillant subsidiary Hepworth Building Products. Hepworth Building Products manufactures and markets pipe systems in the UK, Continental Europe and the Far East. The company had sales of EUR 226 million in 2003.

An important part of these discussions will concern the intention to maintain clear differentiation between the Wavin and Hepworth brands in relevant markets.

The transaction is subject to the usual processes of due diligence, regulatory and final Board approvals.

Both companies expect to be able to give more detailed information by the end of the year.

About Hepworth Building Products
Hepworth Building Products is based in Sheffield, UK and manufactures a range of plastic, clay and concrete pipe systems for use in the plumbing and above and below ground drainage sectors. It has manufacturing and distribution facilities in the UK, Continental Europe and the Far East, and employs over 1,700 people.

About Wavin
Wavin Group, with its headquarters in Zwolle, the Netherlands, is a major supplier of pipe system solutions to the European building, civils and utility markets. The company has sales of over EUR 1 billion, currently operates in 27 countries and employs over 5,000 people. Outside Europe, Wavin has joint ventures in Australia and New Zealand and has a global network of more than 90 agents, licensees and distributors.

About Vaillant
The family owned Vaillant Group, with its headquarters in Remscheid, Germany, is a worldwide leading manufacturer in the field of domestic heating and comfort. The company generates annual revenues of EUR 1.8 billion and employs over 9,300 people. Vaillant develops and produces products and supplies them to customers in more than 100 countries all over the world.

Contact
Vaillant Group
Ebrulf Zuber
Corporate Communications
42850 Remscheid
Phone: +49 (0)2191 - 18 2754
Fax: +49 (0)2191 - 18 2895
E-mail:ebrulf.zuber@vaillant.de