Independent judgement 
All of the directors take their decisions based solely on their own, independent judgement. Decisions are taken by a majority of votes. Each director has the possibility to record their opinion or comments in the minutes. In the event that the minutes are not approved, the reason for such non-approval is formally noted.

Information
Directors are always requested to carefully study the information they receive prior to the meetings, in order to have a perfect understanding of the main aspects of the company's activities. If they so wish, they can receive additional information from the Managing Director, othermembers of the Executive Committee or other people who work for the company. The Managing Director reports to the Board before each meeting on the sales results, consolidated key figures, investments and other relevant information which will enable the directors to assess the company's evolution.

Assessment of the strategy and general policy
As the Managing Director is the sole executive director, assessment of the strategy, major policy and management directions is always conducted by the full Board of Directors, deliberating and taking its decisions as a collective group.

Conflicts of interest
In the event that a conflict of interest arises for a director or his permanent representative, he should inform the other members of the Board of Directors and the external auditor. The Board of Directors shall ensure that the procedure outlined in article 523 of the Companies Code and for the communication of conflicts of interest are respected. During the course of the 2005 financial year, the Board of Directors will oversee the preparation of a specific regulation for transactions or other contractualrelations between directors or Executive Committee members on the one hand and Deceuninck NV on the other which are not covered by the legal provisions governing conflicts of interest.

Insider dealing and market manipulation
All of the directors and Executive and Management Committee members have signed the regulation "Policy for the prevention of abuse relating to privileged information", which strictly governs the possibility for directors and Executive and Management Committee members to acquire and dispose of company shares and provides for the respecting of a waiting period.