SOURCE: RHJ International SA

December 29, 2006 01:45 ET


BRUSSELS, BELGIUM -- (MARKET WIRE) -- December 29, 2006 --

Brussels, December 29, 2006 - RHJ International (the "Company") today published its Condensed Consolidated Financial Statements for the six months ended September 30, 2006. The Condensed Consolidated Financial Statements of the Company, prepared in accordance with International Reporting Standards ("IFRS"), are attached to this press release.

During the first six months of the fiscal year ending March 31, 2007, the Company continued to execute its strategy of creating long- term value.

* The Company continues to build its existing holdings into stronger global competitors. Asahi Tec Corporation ("Asahi Tec") announced the proposed acquisition of U.S. based Metaldyne Corporation ("Metaldyne"), a leading global supplier of aluminum and ductile castings for the automotive industry. Niles Co.,Ltd. ("Niles") acquired Fuji Electronics Industries, expanding its precision stamping, insert molding and assembly capability. The Company acquired a 20% shareholding in U-Shin Ltd. ("U-Shin"), a Japanese manufacturer of electrical components for automobiles. In November, D&M Holdings Inc. ("D&M) announced the proposed acquisition of Philips Sound Solutions, further expanding its foothold in the automotive OEM business.

* The Company continued to seek opportunities to build new industry platforms. It confirmed in October that it entered into a non-binding memorandum of understanding, in consortium with Videocon Industries Ltd., for the proposed purchase of Daewoo Electronics Corporation, in the consumer durables segment.

* The Company also seeks to create shareholders' value through influential minority interests and opportunistic co-investments. As of September 30, 2006, the Company recorded JPY 687 million of fair value increment on those investments owned on that date, and realized a JPY 206 million profit on the disposal of such an investment.

* The portfolio companies continued to seek sustainable improvement of their operating performance. Asahi Tec, D&M and Phoenix Resort K.K. ("Phoenix Seagaia Resort") reported improvements in financial performance compared to the six months ended September 30, 2005. Honsel International Technologies SA ("HIT"), Columbia Music Entertainment Inc. ("CME") and Niles Co.,Ltd. ("Niles") continued to address operational challenges and reported lower operating results during the six months ended September 30, 2006 compared to the same period last year.

* The Company strengthened its industrial partner network with the employment of Hideki Kurashige, former President and Chief Executive Officer of Japan Telecom and affiliation with Greg Brenneman, former Chief Executive Officer of Burger King.

More detailed information about the Company's activity and financial results for the six months ended September 30, 2006 is presented below.

For further information please contact:

Arnaud Denis
Investor Relations Director

Please click the link below to open the entire press release including tables:

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