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CORPORATE NEWS [latest news list] May 29, 2007
Restructuring for OYLIndustries Group companies' Capital framework

We hereby inform about the commencement of examination for restructuring for OYL Industries Group companies' Capital framework, as informed earlier, O.Y.L. Industries Bhd. has been acquired by us completely on this January.

For the purpose of acceleration of decision making and upgrading of consolidated management, we would like to simplify the capital structure. The below mentioned companies which includes shell companies are expected to liquid and/or to be merged, however the methods and timings are not yet decided concretely according to the compliance of legal and rules of each country.

[The companies to be liquidated]
O.Y.L. Industries Bhd Malaysia
AMG Holdings B.V. Netherlands
AMG Holdings N.V. Netherlands
AAF Asia Pte. Ltd. Singapore
McQuay Asia Limited Jersey, Channel Islands
AAF Holdings Limited Bermuda
AAF Asia Limited Bermuda
McQuay Holdings Limited Bermuda
OYL (BVI) Limited The British Virgin Islands
McQuay Asia (Hong Kong) Limited Hong Kong

[The company to be merged]
AAF-McQuay Group, Inc. U.S.A.

[Companies to be liquidated or merged unknown]
AAF-McQuay International, Inc. U.S.A.
AAF-McQuay Holdings, Inc. U.S.A.
AAF-McQuay UK Limited U.K.
AAF Italia S.r.l. Italy
AAF-McQuay Holding France France
AAF-McQuay France France
AAF-McQuay Netherlands B.V. Netherlands

  For more information, please contact
     Daikin Industries, Ltd.
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