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August 31, 2001

Giovanola Freres Disputes Rumors About Company Closing

Switzerland -- Giovanola Freres SA sent a note to dispute recent Internet claims that the company is no longer in business. Giovanola Freres confirms that the company is still in the business of building amusement park rides.

The same top-notch design and construction teams are available to design and build amusement park equipment for installation anywhere in the world. Giovanola has never been and has no intention of being a General Contractor and as such has rarely worked with the final customer.

Giovanola's amusement park products are sold through companies such as Intamin and more recently Giovanola Amusement Rides Worldwide (GARW). Giovanola Freres SA notes that GARW is a separate company from the design and manufacturing firm.

The company wants the amusement park industry to know that they are ready and willing to work with any company that wishes to use their expertise in the design and construction of amusement park equipment.