Immediate measures to improve cost base

Wattwil, November 30, 2007. Gurit (SWX Swiss Exchange: GUR), a leading developer and manufacturer of high-end composite materials and technologies, will present the Group’s preliminary sales figures for 2007 and an outlook for the business year 2008 on January 17, 2008. The business analysis made by the new management team has led to overdue restructuring measures which are now being implemented.

The business analysis made by the new Management team so far has led to some cost reduction measures which are now being implemented and which will strengthen the Group’s profitability in 2008:

In Newport/Great Britain, there are approximately 40 positions at risk of redundancy in the manufacture of wind energy prepregs. On the other hand, the work force is growing in the finished car body parts production.

In Switzerland, the winter sport materials business concentrated near Berne is loss making in its current set up and will thus be restructured. The production site at Ittigen will be phased out in spring 2008 in close co-ordination with the customers; 30 people will lose their jobs. It is envisaged to set up a special scheme to mitigate the effects on the workforce. 10 persons will find new positions at the nearby production site in Worb. Certain smaller business entities will be transferred to Worb together with the relevant production equipment. These measures will strengthen the profitability of the winter sports material business.

The resulting restructuring costs in the range of CHF 5 million will be offset by gains from the sale of real estate during the second half of 2007. At the end of 2007/beginning of 2008, the closing of the Ittigen site will have a net cash effect of some CHF -1 to -2 million.

Parallel to the immediate actions announced today, Management’s top priority is the implementation of further operational measures, mainly relating to the wind energy business which currently faces certain challenges. The rapid utilization of the added production capacities, negotiations with major customers as well as the optimization of processes and structures, are the most important tasks. These measures should lead Gurit to profitable growth in 2008.

Analyst/Media conference call and webcast

Management and Board will present additional information on the current business development, on the Group’s sales figures for 2007 and its outlook for 2008 on an English speaking analyst/media conference call scheduled for January 17, 2008. At 0700 a.m. CET that same day, Gurit will also issue a press release. The conference call takes place on

January 17, 2008 at 1530 p.m. CET

If you wish to participate, please dial +41 (0)52.267.0734 at least ten minutes prior to the beginning of the call. The identification number to access the call is 127000. A replay of the call will be available for seven days following the conference. To access the replay, please dial +41 (0)52.267.0700; the conference ID is 573767#.

The conference is also available as a live webcast in the investor relations section of the Gurit Holding webpage www.investor.gurit.com.

Accompanying slides will be available at http://investors.gurit.com/investor-relations/publications_en.html on January 17, 2008 by 07:00 a.m. CET

For further information: Bernhard Schweizer, Group Communications, +41-71-987-1010; bernhard.schweizer@gurit.com.

Please subscribe to Gurit’s email alert service at http://investors.gurit.com/investor-relations/news.html

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