24 February 2012

FLSMIDTH INCREASES OFFER TO ACQUIRE ALL LUDOWICI SHARES TO $11.00 CASH PER SHARE

Ludowici Limited ("Ludowici") announces that it has today received an increased offer from FLSmidth
& Co A/S ("FLSmidth") to acquire all of Ludowici's shares at a price of $11.00 per share (less any dividends determined, declared or paid by Ludowici before the transaction is completed) by way of a Scheme of Arrangement ("Revised Offer").
No changes have been proposed to the terms of the Scheme Implementation Agreement entered into by FLSmidth and Ludowici on 16 February 2012, other than to reflect the increased offer price.
The Ludowici Board is considering the Revised Offer and will update the market in due course.
The Ludowici Board notes that the Revised Offer would not proceed if the application made by The Weir Group PLC ("Weir") to the Takeovers Panel on 13 February 2012 ("Application") results in the Takeovers Panel making orders which have the effect that the proposed Revised Offer cannot proceed, including because the Takeovers Panel determines that the statement the subject of the Takeovers Panel proceedings relating to the Application was a last and final statement and must not be resiled from.
Phil Arnall Chairman Ludowici Limited