Pergo announced on January 28, 2003 that an agreement had been signed whereby Pergo would acquire the remaining shares in Witex AG from HW Industries GmbH & Co KG. In April, the transaction was postponed, since the financing for the new group had not yet been secured in a manner acceptable to the parties.

The parties have jointly concluded that it is not possible to obtain satisfactory financing for the new group. The decision has been taken in the light of Witex's weakened financial development in the spring.

Pergo today owns 25.1 percent of the shares in Witex. As a shareholder Pergo will monitor its commercial and financial interest in the company. The parties are discussing the now prevailing situation and Pergo will later on provide further information.