Oudshoorn Rejoins Amtel-Vredestein Board

Vredestein Banden B.V. CEO Robert H. Oudshoorn is to return to Amtel-Vredestein’s Board after a 6-month absence to join new Amtel-Vredestein CEO and Executive Board Chairman, Petr Zolotarev and CFO Vadim Pesochinsky, who joined the Company in July 2007.

Amtel-Vredestein has increased the size of its Executive Board from a maximum of four to six and has nominated four new members. The election of the nominees will be included among the agenda items at an Extraordinary General Meeting of Shareholders (EGM) scheduled for 2 October 2007 in Enschede, The Netherlands.

Other new members are Vredestein Consulting Managing Director, Kornelis (Kees) Hettema; Amtel-Vredestein Deputy General Director of Sales and Operations, Ilya Ivanov; and Vredestein Banden Director of Corporate Marketing & Sales, Marc Luyten.

“I am very pleased to welcome these new Executive Board members. Together, they will bring an exceptional range of skills, experience and expertise, which I believe will be crucial in our decision-making process as we seek to deliver a very challenging agenda in the years ahead,” said CEO, Petr Zolotarev. “I am especially delighted that Rob Oudshoorn has agreed to return to the Executive Board. His extensive and in-depth industry knowledge and management experience will help ensure our successful leadership.”

Supervisory board nominations

The company also announced that it has nominated Mr. Hendrik W. ten Bosch, former General Director, ING Bank Eurasia ZAO, as a new Director for its Supervisory Board. The election of the new Director will be held at the Extraordinary General Meeting of Shareholders (EGM) scheduled for 2 October 2007 in Enschede, The Netherlands.

Mr. ten Bosch held the positions of General Director and Chairman of the Executive Board in ING Bank Eurasia ZAO responsible for ING activity in Russia, Ukraine and Kazakhstan, as well as other international senior positions in ABN AMRO bank N.V.

Mr. Hubert Hoedl, Vice-President Marketing & New Business Development – Europe of MAGNA International Inc, was also nominated as a new Director for Amtel-Vredestein’s Supervisory Board. Mr. Hoedl held various senior positions in the industry in the areas of product development, project management, purchasing, sales & marketing for companies like MAGNA, Steyr-Daimler-Puch and others. He currently holds several positions as a Board member in several major Austrian companies and organizations.

The Amtel-Vredestein Supervisory Board will now be comprised mostly of independent directors when its new members are approved at the EGM. Both executive and supervisory board members are eligible to serve for four-year terms.