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Q3 Jan-Sep - Munters

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HumiCool Highlights – <strong>Q3</strong> 2008Weak order intake, especially inMist Elimination and HVACHeatersCredit crunch leads to less stockbuildingamong heaterdistributorsAgHort market activity still brisk– Outlook remains strong in mostmarketsActivity in U.S. flue gasdesulphurization market expectedto remain subdued in the mediumterm– Political uncertainty regardingexhaust rights<strong>Q3</strong> Net SalesBusiness AreasSales toAsia 18%HVAC / Pre-Cooler32% AgHort46%MistElimination22%11

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