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Annual General Meeting approves proposals of the Board of Directors

Par value reduction of CHF 2.50 per share – Conversion of bearer shares into registered shares – Withdrawal of proposals to restrict voting rights and waive the opting-up clause.

The 31st Annual General Meeting of Kardex AG on April 21, 2009 approved the proposals put forward by the Board of Directors to reduce the par value by CHF 2.50 per share instead of making a dividend pay-ment and to convert bearer shares into registered shares. The proposals published in the invitation to the Annual General Meeting to restrict voting rights to 5% and to waive the opting-up clause were with-drawn by the Board of Directors following recent discussions with major shareholders and institutional investors. Walter T. Vogel was re-elected to the Board of Directors for a further three-year term.

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