CEO Stefan Baustert Leaves Singulus

 Mr. Stefan A. Baustert (Dipl.-Kfm.), Chief Executive Officer of SINGULUS TECHNOLOGIES AG, is leaving the company as of August 31, 2009 by mutual consent with theSupervisory Board.

At its meeting, the Supervisory Board of SINGULUS TECHNOLOGIES AG decided to appoint the company’s Supervisory Board Chairman, Mr. Roland Lacher, Dipl.-Ing. (67), to the Executive Board with immediate effect for the period up to March 31, 2010 in line with Art. 105 Para. 2 of the Stock Corporation Act (AktG). Mr. Roland Lacher will take on the post of Chief Executive Officer of the company. Mr. Lacher will return to the SINGULUS Supervisory Board as of April 1, 2010.

At the same time, the Supervisory Board decided to appoint Dr.-Ing Stefan Rinck (51) as a member of the SINGULUS Executive Board effective September 1, 2009. Dr. Rinck most recently worked as managing director of Linde Material Handling GmbH Co. KG/Kion Group and has international experience in marketing / sales as well as developing technologically complex products. He will also be appointed to the STANGL Executive Board as part of the personnel sharing agreement. From April 1, 2010, Dr. Rinck will become Chief Executive Officer of SINGULUS.

For the period of Mr. Lacher’s posting in the SINGLUS Executive Board, the Vice Chairman of the Supervisory Board, Dr. Wolfhard Leichnitz (56), will fulfill the role of Chairman of the Supervisory Board.

In an effort to avoid a vacancy in the SINGULUS Supervisory Board, which consists of three members according to the articles of the company, the Supervisory Board has decided to approach the responsible local court in Aschaffenburg with the proposal to appoint Mr. Jürgen Lauer (45, Dipl.-BW and MBA) to the company’s Supervisory Board immediately for the period up to March 31, 2010.

The Supervisory Board is convinced that SINGULUS can quickly regain its stability and continuity with these changes to the company’s management. This would allow the company to successfully overcome current and future challenges in the markets for optical disc and photovoltaic equipment and return to its growth track with fresh momentum in the medium term.