Shanghai Electric will Become the Second Largest Shareholder of Goss International

DURHAM, NH—06/12/2009—Shanghai Electric (Group) Corp. (SEC) and the shareholders of Goss International Corp., including majority shareholder MatlinPatterson Global Opportunities Partners, have reached an agreement for the utility and equipment manufacturing conglomerate to become the second largest shareholder of the printing equipment supplier by acquiring newly issued shares of Goss International preferred stock. This transaction is currently under governmental review for final approval and is subject to other customary conditions to closing.

Terms of the transaction have not been disclosed.

Shanghai Electric and Goss International have a successful, longstanding relationship through Shanghai Goss Graphic Systems, a joint venture company of Goss International and the SEC subsidiary Shanghai Electric Printing and Packaging Machinery Group (SPPM). The joint venture company was established in 1993 and produces several Goss web press models for the global market.