AEG Power Solutions Announces Dietmar Papenfort’s Appointment as Vice-President of the Energy Efficiency SBU

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Dietmar Papenfort (Photo: Business Wire)

AEG Power Solutions, wholly-owned by 3W Power Holdings S.A. (Euronext Amsterdam 3WP, Frankfurt 3W9, ISIN GG00B39QCR01, WKN A0Q5SX) announces the appointment of Dietmar Papenfort as the new Vice-President & General Manager of its Energy Efficiency Strategic Business Unit (SBU). The appointment will take effect latest on July 1, 2011.

As part of the Agenda 2012, the Energy Efficiency SBU has been formed at the end of 2010 as a combination of the former industrial & infrastructure and Telecoms power activities of AEG Power Solutions. The purpose was to streamline the organizational structure and obtain the benefit of synergies created in this new group by combining all businesses involved in reliable high availability power supply for energy, transportation, water or communication infrastructure.

Improved cost base and focus activities on core vertical and selected growth markets, is the strategy developed within this segment of AEG Power Solutions business. Actions have started to be implemented. The SBU will continue to develop its organization and business plans under the leadership of Dietmar Papenfort, who will replace Peter Bon in this position and drive the challenge of achieving the performance goals of Agenda 2012 for this activity.

While Peter Bon has guided the business analysis, he has decided to leave the company at the end of 2011 to continue his career outside AEG PS.

Dietmar Papenfort has a previous significant experience with AEG Power Solutions which will make him rapidly operational in his new position.

Dietmar Papenfort, age 45, is currently Vice President Sales EMEA and APAC of Active Power, a US international power supply company that he joined in 2009. Prior to Active Power, Papenfort served as vice president of Sales for Northeast Europe at AEG Power Solutions from 2006. Dietmar had joined the group, at that time AEG AG, in 1992 and then had several positions in Service, Sales, Product Management and Sales Management. Dietmar Papenfort holds a degree in Electrical Engineering from the University of Padenborn (Germany).

About AEG Power Solutions

AEG Power Solutions is a world-leading provider of premium power electronics. It offers one of the world’s most comprehensive product and service portfolios in power conversion and control, for customers spanning the infrastructure markets of energy, telecom, lighting, transportation and general industrial sectors. System solutions from AEG PS are designed to interface with the electrical power grid and to offer power solutions for mission-critical applications in harsh environments, such as power plants, offshore oil rigs, chemical refineries, and utility-scale renewable energy plants. The company has developed a full range of products for the solar energy industry, from solar inverters to turnkey solutions and is investing in solutions that will enable distributed power generation and smart micro-grids. Renowned for engineering excellence, the company’s customers benefit from 60 years of expertise and field-proven products.

AEG PS generated revenue of €400 million in 2009 with more than 1,500 employees around the world.

3W Power Holdings S.A. is the holding company of AEG Power Solutions Group. Shares and Warrants in the company are admitted to trading on NYSE Euronext, Amsterdam (ticker: 3WP and 3WPW, respectively). Shares are also traded on the Frankfurt Stock Exchange (ticker: 3W9).

This communication does not constitute an offer or the solicitation of an offer to buy, sell or exchange any securities of 3W Power. This communication contains forward-looking statements which include, inter alia, statements expressing our expectations, intentions, projections, estimates, and assumptions. These forward-looking statements are based on the reasonable evaluation and opinion of the management but are subject to risks and uncertainties which are beyond the control of 3W Power and, as a general rule, difficult to predict. The management and the company cannot and do not, under any circumstances, guarantee future results or performance of 3W Power and the actual results of 3W Power may materially differ from the information expressed or implied in the forward-looking statements. As a result, investors are cautioned against relying on the forward-looking statements contained herein as a basis for their investment decisions regarding 3W Power.

3W Power undertakes no obligation to update or revise any forward-looking statement contained herein.

For more information: www.aegps.com

AEG is a registered trademark used under license from AB Electrolux

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