December 1st 2004.

MV Press Release:
"MV Agusta and Proton closed their agreement to increase the Italian company's capital by Euro 70 million, entirely underwritten and paid in by the Malaysian group.

The outcome of the refinancing is that Proton holds 57.75% of MV Agusta while the Castiglioni family retains 37.35%; Mr. Massimo Tamburini has 2% and Husqvarna AB holds 3%.

Mr. Claudio Castiglioni is still company CEO with responsibilities in the marketing and research and development sectors, whereas Proton will appoint the managing director in the near future. The other managers appointed by Proton have already been announced. Zaidi Bin Mohd Yusoff is production manager, and Johnson Liu Wen Jong is manager of the finance area.

Proton, listed on the Kuala Lumpur stock exchange, is one of Asia's leading car manufacturers. Owner of Lotus, the Group is pursuing an international market expansion strategy involving industrial partnerships with prestigious companies in the automotive industry, including Volkswagen. Their turnover last year was Euro 1.5 billion, with Euro 114.5 million in profits and a worldwide workforce of more than 9,000."

Pictured: MV Agusta F4S