KUDELSKI GROUP : NEW APPOINTMENTS

Cheseaux, 16 January 2004 - the Kudelski Group announces today the following appointments on the Executive Board :

Mrs Adrienne Corboud Fumagalli, previously Corporate Secretary, is appointed Executive Vice President in charge of Business development.

Mr. Nicolas Goetschmann is appointed Corporate Secretary while continuing to be in charge of administration.

Both appointments are effective immediately. They reinforce the management structure in the perspective of the expansion of the Group's activities.

Contact
Catherine Hugon
+41 21 732 01 54
[email protected]