Possible U.S. Recession Mutes Pfleiderer's Outlook

Neumarkt, Germany, February 22, 2008-- Pfleiderer AG CEO Hans Overdiek said he is ``more cautious'' on its profit outlook in the face of a possible U.S. recession.

``If you were to say we have become more cautious, well, that's the current business environment,'' Overdiek said on a conference call.

Pfleiderer bought Sweden's Pergo AB last year for $386 million, making the German company the largest supplier of laminate flooring in the U.S. and Canada. The company spent $32 million last year to integrate Pergo and reorganize other units.

Pfleiderer forecast 2008 sales will rise about 11 percent, with earnings before interest, tax, depreciation and amortization equal to about 15 percent of sales, compared with 13.8 percent last year.