Sulzer Welcomes End of InCentive Bid

Apr 26, 2001, 01:00 ET from Sulzer AG

    WINTERTHUR, Switzerland, April 26 /PRNewswire/ -- The Board of Sulzer
 welcomes the announcement by InCentive Capital that it no longer intends to
 pursue its unsolicited offer for Sulzer.
 
     Leonardo Vannotti, Chairman of Sulzer said:
     "This is good news for Sulzer shareholders and it's also good news for our
 employees and customers.  We believe that it was always clear that InCentive's
 bid did not reflect the value and potential of Sulzer Industries.  Now with
 the support of our shareholders for the spin-off of Sulzer Medica (NYSE:   SM),
 the managements of both Sulzer Industries and Sulzer Medica can focus their
 attention on executing their strategies and delivering shareholder value, free
 from any of the distractions or delays that would have been caused by an
 unwanted bid."
 
     For inquiries:
     Markus Niederhaeuser, Phone +41-52-262-20-30, Fax +41-52-262-00-25
     E-mail:  markus.niederhaeuser@sulzer.com
     The press release is available on Internet:  www.sulzer.com/press.html .
 
     The Board of Sulzer AG has been advised by UBS Warburg and Morgan Stanley
 in relation to this transaction.  In providing advice to Sulzer's Board, UBS
 Warburg and Morgan Stanley have taken into account the Board's commercial
 assessments of the transaction.
     Morgan Stanley & Co. Ltd., which is regulated in the United Kingdom by The
 Securities and Futures Authority Limited, and UBS AG, acting through its
 business group UBS Warburg, are acting exclusively for Sulzer AG and no one
 else in connection with the offer by InCentive Capital AG and will not be
 responsible to anyone other than Sulzer AG for providing the protections
 afforded to customers of Morgan Stanley & Co. Ltd. or UBS Warburg nor for
 giving advice in relation thereto.
     This document has been approved by Morgan Stanley & Co. Ltd. for the
 purposes of Section 57 of the United Kingdom Financial Services Act 1986.
 
 

SOURCE Sulzer AG
    WINTERTHUR, Switzerland, April 26 /PRNewswire/ -- The Board of Sulzer
 welcomes the announcement by InCentive Capital that it no longer intends to
 pursue its unsolicited offer for Sulzer.
 
     Leonardo Vannotti, Chairman of Sulzer said:
     "This is good news for Sulzer shareholders and it's also good news for our
 employees and customers.  We believe that it was always clear that InCentive's
 bid did not reflect the value and potential of Sulzer Industries.  Now with
 the support of our shareholders for the spin-off of Sulzer Medica (NYSE:   SM),
 the managements of both Sulzer Industries and Sulzer Medica can focus their
 attention on executing their strategies and delivering shareholder value, free
 from any of the distractions or delays that would have been caused by an
 unwanted bid."
 
     For inquiries:
     Markus Niederhaeuser, Phone +41-52-262-20-30, Fax +41-52-262-00-25
     E-mail:  markus.niederhaeuser@sulzer.com
     The press release is available on Internet:  www.sulzer.com/press.html .
 
     The Board of Sulzer AG has been advised by UBS Warburg and Morgan Stanley
 in relation to this transaction.  In providing advice to Sulzer's Board, UBS
 Warburg and Morgan Stanley have taken into account the Board's commercial
 assessments of the transaction.
     Morgan Stanley & Co. Ltd., which is regulated in the United Kingdom by The
 Securities and Futures Authority Limited, and UBS AG, acting through its
 business group UBS Warburg, are acting exclusively for Sulzer AG and no one
 else in connection with the offer by InCentive Capital AG and will not be
 responsible to anyone other than Sulzer AG for providing the protections
 afforded to customers of Morgan Stanley & Co. Ltd. or UBS Warburg nor for
 giving advice in relation thereto.
     This document has been approved by Morgan Stanley & Co. Ltd. for the
 purposes of Section 57 of the United Kingdom Financial Services Act 1986.
 
 SOURCE  Sulzer AG