9-month sales on track to meet FY08 targets

Gurit (SIX Swiss Exchange: GUR), a leading developer and manufacturer of high-end composite materials and technologies, increased sales in the first nine months of 2008 by 13.0% at constant currency translation rates or by 5.7% in reported Swiss francs to CHF 354.5 million. For its target markets, Gurit expects to achieve the formerly announced 7-10% sales growth in Swiss francs and an operating EBIT margin of at least 4% for the full financial year 2008.

Wattwil, October 31, 2008. Gurit reports an overall sales increase for the Group at constant translation rates of 13.0% to CHF 117.4 million for the third quarter and of 13.0% to CHF 354.5 million for the first nine months of 2008. In reported Swiss francs, sales increased by 5.8% in the third quarter and by 5.7% in the first nine months. Gurit reports for its target markets, Wind Energy, Transportation and Marine a sales increase of 10% in reported Swiss francs for the first nine months. For the full year, Gurit thus expects to achieve the formerly announced 7-10% sales increase in re-ported Swiss francs for its target markets.

While sales to Wind Energy (+19.9%) and Transportation (+35.4%) customers continued to grow dynamically at constant translation rates, Marine recorded stable sales in the third quarter. In the Wind Energy market, Gurit is successfully expanding its business with existing customers and has added new names to its global client list. Sales to the Transportation market continue to be strong, based on solid sales to aerospace customers and rising sales volumes in the car body parts business.

Gurit’s initiative for continuous improvements in its operations is progressing according to plan. While Gurit still has considerable spare capacity in the manufacture of prepregs in Canada and China, targeted investments are currently being made or considered in order to increase capacities for structural foam and formulated products.

Gurit expects to close this financial year in its target markets with an operational EBIT margin of at least 4% before net positive exceptional items.

Net sales in CHF million	3Q07 at translation rates Sept08	3Q08	+/-%	3Q07	Jan-Sept 07 at translation rates Sept08	Jan-Sept 2008	+/-%	Jan-Sept 2007
Total Group	103.8	117.4	13.0	111.0	313.8	354.5	13.0	335.3
Wind Energy	59.2	71.0	19.9	63.9	171.7	203.4	18.5	186.4
Transport, S&CE	22.5	23.8	5.9	22.8	75.5	78.4	3.8	76.2
T excl. S&CE	13.9	18.8	35.4	14.2	44.6	53.7	20.4	45.2
Marine	19.7	19.7	-	22.0	55.0	65.1	18.3	61.2
Other	2.4	2.9	18.6	2.4	11.6	7.7	-33.8	11.6

For further information:
Bernhard Schweizer, Group Communications/Investor Relations, Tel. +41 44 316 1555; Mobile: +41 79 373 2178 bernhard.schweizer@gurit.com

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On Gurit: The companies of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Ex-change: GUR) are specialised on the development and manufacture of high-end compos-ite materials featuring bespoke physical and chemical characteristics. The comprehensive product range comprises fibre reinforced prepregs, structural foam, gel coats, adhesives, resins and consumables as well as certain finished parts. Gurit supplies growth markets in Wind Energy, Transportation and Marine. The international Group has production sites and offices in Switzerland, Germany, the UK, Canada, Spain, Australia, New Zealand, the USA, India and China.