Taxes amounted to 33 million (2008: 37 million) representing an effective tax rate of 29.4% (2008: 22.9%).

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1 Press Release 26 April 2010 Results for the year 2009 Revenue 1,921 million, a decrease of 15.8% (a like-for-like¹ decrease of 15.2%). Operating income (EBIT) 121 million, a decrease of 35.4% (a like-for-like¹ decrease of 29.8%). Resilience in France and Germany. Difficult conditions in the U.K., Spain and Italy continued whilst other European markets also suffered from declining revenues. Significant year-on-year revenue reduction in the U.S., stabilising by year end. Slightly better activity levels in Canada. Central American and Mexican markets mirrored the U.S. trend of deteriorating revenue. Revenue decline less pronounced in certain South American markets, such as Peru. Australian and New Zealand markets also affected by global recession, and difficult market conditions continued in South Africa. Satisfactory performance in China and Malaysia. Proposed dividend of 0.24 gross per share ( 0.18 net), an increase of 4.35%. On 23 April 2010, the Board of Directors approved the submission of the consolidated accounts for the year 2009 to the General Meeting of Shareholders that will be held on 26 May COMMENTS Revenue from sales in 2009 was 1,921 million (2008: 2,280 million), an overall decrease of 15.8%. On a like-for-like¹ basis, the decrease in revenue was 15.2%. Operating income was 121million (2008: 188 million), representing 6.3% (2008: 8.2%) of revenue, an overall decrease of 35.4% (a like-for-like¹ decrease of 29.8%). The operating income has been impacted by the non recurring cost of a number of industrial reorganisation projects that were launched or continued during the period. Net financial result was negative of 9 million (2008: 26 million negative). Net interest expenses decreased by 10 million in 2009 mainly as a result of lower average effective interest rates. In the second half of 2009 the Group has bought out the minority interest in its Latin American operations for an amount of 36.4 million, paid in the form of Aliaxis SA treasury shares. At the end of 2008 the value of said minority interest was recorded as a non-current liability of 60 million. The difference between the amount paid for the acquisition and the non-current liability, i.e million was recorded as a financial income in Taxes amounted to 33 million (2008: 37 million) representing an effective tax rate of 29.4% (2008: 22.9%). Net income share of the Group amounts to 78 million (2008: 124 million).

2 General market conditions were difficult, which necessitated a continuing focus on cash generation and cost control to mitigate the impact of lower demand on the Group s profits. As a result of such focus, there was a significant reduction in the financial indebtedness of the Group to 329 million at year end, a reduction of 158 million compared with the prior year end. In a European trading environment that remained difficult, the performance of our businesses was mixed, as the U.K., Spain and Italy felt the full impact of the recession but France and Germany continued to show resilience. Revenue in North America underwent significant year-on-year reductions and the impact of the recession on performance was more pronounced on our activities in the U.S. than in Canada. By the year end, our businesses in the U.S. had stabilised, albeit conditions remained difficult, whilst those in Canada had started to reflect slightly better prospects. Our Mexican and Central American businesses generally mirrored the North American trend of deteriorating revenue with continuing margin pressure in the region. The impact on revenue was generally less pronounced in certain South American countries, such as Peru, that have an economy less linked to that of the U.S. The economies in Australia and New Zealand were also affected by the global recession and efforts were made to limit its impact on the performance of our businesses in the region. On the positive side, the organisation started to feel the beneficial effects of synergies from recent acquisitions. In South Africa, difficult market conditions impacted the performance of our operations whilst our performance in China and Malaysia was satisfactory. OUTLOOK FOR 2010 Looking forward, the macroeconomic environment seems to improve, largely as the result of exceptional monetary and fiscal measures implemented since the end of In the current trading environment, the Group does not expect any significant improvement of the market conditions in 2010 and intends to remain vigilant. It will continue to place emphasis on restoration of its profitability through cost control, cash generation, and new product development. Further strategic projects will continue to be rolled out. The Group considers that its businesses are well-placed to take advantage of any future upturn in market conditions. BOARD OF DIRECTORS The Board was informed of the decision of Mr. Jean-Louis Piérard to step down as Chairman of the Board after the Annual General Shareholders Meeting of 26 May He will remain as a Director and as a member of the Strategy Committee. It will be proposed to designate Mr. Olivier van der Rest as Chairman, at a Board meeting immediately following the Annual General Shareholders Meeting.

3 ANALYSIS OF REVENUE By geographical area Latin America 14% Asia Australasia & Africa 13% Europe 47% North America 26% By industrial activity Other 12% Gravity Systems 37% Other Building Products 14% Pressure Systems 37% The statutory auditor, KPMG Bedrijfsrevisoren Réviseurs d Entreprises, represented by Benoit Van Roost, has issued an unqualified audit opinion on the consolidated financial statements and has confirmed that the accounting data included in this press release do not include any apparent inconsistencies with the consolidated financial statements.

4 SUMMARY TRADING INFORMATION Year ended 31 December ( million) Inc/(dec) Revenue 1,921 2,280 (359) Current EBITDA ³ (84) % of revenue 11.4% 13.3% Current EBIT ² (96) % of revenue 6.8% 9.9% Operating income (EBIT) (67) % of revenue 6.3% 8.2% Profit before income taxes (52) Net profit, attributable to : (47) Non-controlling interests Group equity holders (46) per share, share of Group equity holders % Inc/(dec) Basic earnings per share (38.4)% Diluted earnings per share (38.4)% Proposed gross dividend %

5 SUMMARY CONSOLIDATED BALANCE SHEET At 31 December ( million) Inc/(dec) Intangible Assets Property, Plant and Equipment (2) Non Current Investments Deferred Tax Assets Other Non Current Assets Total Non Current Assets 1,251 1, Non-Cash Working Capital (117) Total 1,623 1,703 (80) Equity (attributable to Group) 1,170 1, Non-controlling Interests Total Equity 1,180 1, Non Current Liabilities (61) Deferred Tax Liabilities Net Financial Debt (158) Total 1,623 1,703 (80) (1) Like for like being at constant exchange rates and excluding the impact of changes in scope of consolidation (2) Current EBIT being profit from operations before non-recurring items (3) Current EBITDA being EBITDA before non-recurring items (4) Per share data calculated on the total weighted average number of ordinary shares, net of treasury shares. (5) Non-Current Liabilities in 2008 included 60 million representing the 49% minority interest in Aliaxis Latinoamerica. Contact: Manuel Monard Tel Fax aliaxis@aliaxis.com