Announcement: acquisition of all the businesses and activities of the South African group Hydra-Quip

(Johannesburg, January, 14 2011) Manuli Fluiconnecto (Pty) Ltd. announces the acquisition of all of the businesses and activities of Hydra-Quip Silverton, Hydraflex Benoni and Hydra-Quip Pretoria (the "Hydra-Quip Group").

Hydra-Quip Group is a leading distribution group with main focus on hydraulics and operates through its 3 service points in the Pretoria and Johannesburg areas. Highly recognized technical competence, its proximity to customers, the broad availability of components and the speed and flexibility of its service level, have allowed Hydra-Quip Group to become a leading distributor of hydraulic components in South Africa.

The Hydra-Quip activities will be conducted under Fluiconnecto by Manuli’s name and brand.

Including this latest acquisition, Fluiconnecto by Manuli now operates a network of 8 fully owned hydroshops in South Africa, located in Johannesburg, Cape Town, Durban, Richards Bay, Witbank, Pretoria, Benoni and Silverton.

Fluiconnecto by Manuli is a leading international service organization, headquartered in The Netherlands, providing end-users of all sectors of activity, with specific focus on mining, agriculture, construction and natural resources, with top quality hydraulic components and technical services. Including the latest expansion into South Africa, the Fluiconnecto by Manuli now operates a network of more than 120 fully owned hydroshops and a fleet of fully equipped service vans in 13 countries across Europe, Asia, South America, Australia and South Africa.