Ordinary General Shareholders Meeting of Swissmetal Holding AG: three new members on the Board of Directors

Annual report and annual financial statements for 2010 approved. Annual result of CHF -26.1 million carried over to new accounts statement. Company representatives not absolved. Three new Board members elected. PWC reconfirmed as statutory auditor. Application for agenda item 5 'Harmonica' withdrawn.

Under the leadership of Board of Director Chairman Dr. J. Friedrich Sauerländer, the Ordinary General Shareholders Meeting of Swissmetal Holding AG took place today at Hotel Victoria in Basel. The 47 shareholders present represented 45.3 % of the share capital.

The Shareholders Meeting approved the 2010 annual report and annual financial statements. The annual result of CHF -26.1 million was carried over to the new accounts statement. Shareholders did not absolve company representatives on the Board of Directors. PricewaterhouseCoopers AG, Basel, was reconfirmed as statutory auditor for another year. The application for the agenda item 'Reduction and simultaneous (re)increase of share capital to the same amount  ('Harmonica' ) was withdrawn by the Board of Directors given current developments.

The partners of the Ally Management Group, Arturo Giovanoli, Martin Hellweg and Patrick Huber-Flotho, were elected to the Board of Directors of Swissmetal Holding AG by a clear majority of the voters present. In the subsequent constituent meeting of the Board of Directors, Martin Hellweg was elected President of the Board of Directors and Patrick Huber-Flotho was elected Chief Executive Officer. It is hoped that the new members of the Board will succeed in implementing the necessary changes in course, based on an analysis of the current situation, to halt the present depletion of assets.

Contact :Swissmetal Industries Ltd., Weidenstrasse 50, 4143 Dornach, Sandra Meier, Tel. 061 705 33 06 or press@swissmetal.com

Swissmetal produces and sells worldwide high-quality special products made of copper and copper alloys which are mainly used in the electronics, telecommunications, air travel, petroleum, automobile, stationery and watch/clock industries and in the architectural sector. In the 2010 financial year, Swissmetal achieved gross sales of CHF 270.8 million. As at end of December 2010, the company had 626 full time-employees. Swissmetal, with its registered office in Dornach (Switzerland) is quoted on the SIX Swiss Exchange as Swissmetal Holding Ltd.