Hess To Become New Chairman at Rieter

Winterhur, Germany, January 30, 2008--Roland W. Hess will succeed Kurt Feller as chairman of the board at Rieter Holding Ltd. at the firm's annual meeting May 8.

Feller (1937) joined Rieter in 1978 and was CEO of the Rieter Group from 1989 to 2000. He has been a Director since 1994 and was elected chairman in 2000.

Hess gained a degree in economics and business Administration. He worked in the finance department at Nestlé for more than 10 years and has been employed by Schindler since 1984, including eight years in the U.S. as head of the Schindler subsidiary.