CSM: Margin Improvement Key Priority in Transition Year 2005

Diemen, the Netherlands, 31 August 2005 – Main developments in first half of 2005:
- Result after taxes* including exceptional items: EUR 9.8 million
- Result after taxes* excluding exceptional items: EUR 34.9 million (first half 2004: EUR 44.3 million)
- Earnings per share* including exceptional items: EUR 0.13
- Earnings per share* excluding exceptional items: EUR 0.46 largely as a result of disappointing results at CSM Bakery Supplies Europe and CSM Biochemicals (first half 2004: EUR 0.54)
- Earnings per share* including the effect of discontinued operations, the sale of CSM Sugar Confectionery, and exceptional items: EUR 4.85
- Net debt position reduced from EUR 865.9 million to EUR 410.4 million compared with 31 December 2004