FabricAir A/S
Islandsvej 3
4681 Herfolge
Denmark
Phone (+45) 5665 2110
Fax (+45) 5665 9907
info@fabricair.com

FabricAir Ltd.
2 Sherwood Crescent
Rotherham, S60 2NJ
Phone (+44) 01709 835 989
Fax (+44) 01709 835987

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20.12.2004
Change of Name

As of 1st January 2005 our company name will change to FabricAir Ltd. We have used the name FabricAir in export markets since the mid 1990's and we now feel that this is the right time to standardize our brand image, logo and promotional materials across all markets.

2004 has been a year of significant investment in the brand. As a result of our globalization strategy, we have relocated the major part of our production to Lithuania, which has proved very successful. Over the next few months we intend to expand our production facilities in Lithuania which will eventually account for 90% of our output.

In addition to the relocation of our production facilities, we have also invested heavily in automated processes which are now on a par with those in Denmark. As a result of these activities we now have the most competitive production operation in our sector. In 2005 we plan to take maximum advantage of these changes.

In parallel with these infrastructure improvements we have also invested in development and documentation. The use of CFD in our development department has grown over the years since its introduction in 2002, and we are now able to meet the increasing demand for project adjusted consultancy services and documentation, and can now produce full-scale simulations of air distribution systems.

The steady rise in steel prices throughout 2004 has highlighted the financial advantages to be gained by specifying fabric air dispersion systems. It is not uncommon for our installed fabric systems to be as much as 75% cheaper than a traditional solution. As a result we have benefited from the increased demand for textile based air distribution and we expect this tendency to continue in 2005.

We are confident that we are now well prepared to meet the challenges that lie ahead, and we would like to take this opportunity to thank our customers and other partners for their excellent support over the past twelve months and hope that FabricAir will be able to further develop our excellent business relationships in the coming year.

With Best Wishes for Christmas and the New Year.

Kind regards

Tony Oldham
IPS Ventilation Ltd.

 Company details after Change of Name