Oerlikon

Oerlikon feels a strong sense of obligation to uphold the recognized principles of good corporate governance as laid out in the "Swiss Code of Best Practice for Corporate Governance" propounded by "Economiesuisse". By addressing this justified concern,
Oerlikon aims to sustain and increase the trust placed in it by the company's present and future shareholders, providers of funding, employees and business partners, as well as the general public.

Responsible corporate governance requires transparency with regard to the organization of management and control mechanisms at the uppermost echelons of the enterprise. Therefore, the "Directive on Information Relating to Corporate Governance" (DCG), enacted by the SWX Swiss Exchange and effective since July 1, 2002, requires issuers of securities to make available to investors certain key information pertaining to corporate governance.

In this present Annual Report, the Corporate Governance information is once again presented in a separate section, as prescribed by DCG. The framework of the directive has been adopted. References to other portions of the Annual Report are included in certain instances in an effort to avoid redundancies and enhance readability. All material changes between the balance sheet date and the time this Annual Report went to press have been taken into account.

• Corporate Governance Webpage