S&T Sells EFP Consulting AG Switzerland

Focus on S&T Core Industries in Central and Eastern Europe

29 September 2006. Austria – Switzerland. S&T System Integration & Technology Distribution AG has announced the sale of EFP Consulting AG Switzerland. This move is in keeping with S&T’s stated intention to focus more strongly on the core S&T industries, financial services, power utilities, the manufacturing industry and telecommunications companies in the CEE countries.

EFP Consulting AG Switzerland was taken over by S&T in 2005 as part of the acquisition of the EFP Group. The Swiss subsidiary focused primarily on customers who operate in Switzerland and on the SAP licence business. The sale is therefore due to S&T's decision to focus more strongly on its core industries as well as on providing SAP / ERP consulting services for customers in Central and Eastern Europe.

EFP Consulting AG Switzerland with its 50 employees will be taken over by a Swiss investment company with the participation of the local management team. Project-specific future co-operation with S&T has been agreed.

"EFP Consulting AG Switzerland has done good work in recent years and we are looking forward to continued successful co-operation. However, the primary goal of S&T is continued growth in our core industries and leveraging synergies to international customers in Central and Eastern Europe. Our investment has given an excellent rate of return," said Christian Rosner, CEO of S&T AG, on the occasion of the sale of the Swiss subsidiary.

The parties have agreed to keep details of the transaction confidential.