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Annual General Meeting 2008 approves all Board of Directors' proposals

May 7, 2008

The Annual General Meeting of Panalpina World Transport (Holding) Ltd., held on 6 May 2008, was well attended once again. The participating shareholders represented 47,79% of the share capital. All motions proposed by the Board of Directors were approved by a clear majority.

In their speeches, both the Chairman Rudolf W. Hug and CEO Monika Ribar acknowledged the convincing annual results of the financial year 2007. Monika Ribar also introduced the new members of the Executive Board. As announced on 29 April 2008, the Board has been expanded and reinforced to focus even more on the Group’s customers’ needs. This new structure will enable Panalpina to react more flexibly in today’s constantly changing global market. The ‘asset light model’ mentioned by Mr Hug is also in line with this strategy. Furthermore, Mr Hug stressed Panalpina’s role as a leader in the industry with regards to compliance.

Sound majority for all motions

The Annual General Meeting approved the annual report, the annual financial statements and the consolidated financial statements. It further granted discharge to the members of the Board of Directors as well as the members of the Executive Board for the financial year 2007. The shareholders also followed the proposals to increase the dividend from the previous year’s CHF 3.00 to 3.20. KPMG AG, Zurich was elected as statutory and group auditor for the year 2008.

Additional member of the Board

Guenter Rohrmann was elected as a new member of the Board of Directors by a clear majority of the shareholders. With over 45 years in the industry, Guenter Rohrmann will strengthen the Board's expertise and industry know-how. Rudolf W. Hug, Günther Casjens, Yuichi Ishimaru and Glen R. Pringle were re-elected for a further 3 years’ term.

The next Annual General Meeting is scheduled for 5 May 2009.

About Panalpina

The Panalpina Group is one of the world's leading providers of supply chain solutions. The company combines its core products of Air Freight, Ocean Freight, and Logistics to deliver globally integrated, tailor-made end-to-end solutions. Drawing on in-depth industry know-how and customized IT systems, Panalpina manages the needs of its customers' supply chains, no matter how demanding they might be. Energy Solutions is a specialized service for the energy and capital projects sector. The Panalpina Group operates a global network with some 500 offices in more than 75 countries, and it works with partner companies in a further 90 countries. Panalpina employs 15,000 people worldwide who deliver a comprehensive service to the highest quality standards – wherever and whenever.