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Pfäffikon SZ, March 19, 2004 – On Friday, March 12, 2004, the merger of Unaxis and ESEC was formally entered into the respective commercial registers. With the approval of the SWX Swiss Exchange, the exchange of shares will now be conducted. The timetable for the related events is as follows:

Last trading day for ESEC shares

March 25, 2004

Delisting of ESEC shares

March 26, 2004

Completion of share exchange: 1.1 Unaxis share for 1 share     
of ESEC (fractional shares to be paid in cash)

March 26, 2004

First trading day of new Unaxis shares

March 26, 2004

Cash payment for fractional shares (less withholding tax);
definitive average price of one Unaxis share as per merger
agreement: CHF 188.80.

For value
March 31, 2004

There is no need to act on the part of existing ESEC shareholders; the rebooking of ESEC shares for those of Unaxis, as well as payment for any fractional holdings, will be handled automatically by the relevant custodian banks. Unaxis shares will continue to trade on the SWX Swiss Exchange with the ticker symbol UNAX, security number 81682, and ISIN number CH00000816824.

This media release is based on information currently available to management. The forward- looking statements contained herein could be substantially impacted by risks and influences that are not foreseeable at present, so that actual results may vary materially from those anticipated, expected or projected. Furthermore, this media release constitutes neither an offer to buy or sell securities nor an issuance prospectus. Authoritative in this regard are solely the delisting notifications for ESEC Holding SA and listing notifications for Unaxis Holding AG published in the Neue Zürcher Zeitung and Le Temps.

For further information, please contact:

Sara Vermeulen-Anastasi

Sara Vermeulen-Anastasi

Head of Group Communications

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