Schindler Elevator Corporation Acquires Omni Lifts, Inc.; San Antonio Firm Joins Global Company

MORRISTOWN, N.J.--(BUSINESS WIRE)--July 21, 2006--Schindler Elevator Corporation, one of the world's leading elevator and escalator manufacturers, completed the purchase of the San Antonio-based Omni Lifts, Inc. The acquisition enables Schindler to expand its portfolio in Southwest Texas. The financial terms of the acquisition were not disclosed.

The former Omni Lifts, Inc., which also operated under the name, Omni Elevator, focused predominantly on elevator service, repairs and modernization within San Antonio and the surrounding region.

“This acquisition is part of Schindler's ongoing growth strategy in the United States and throughout the Americas”

"Schindler is very enthusiastic about this acquisition," said Scott L. Stadelman, president of Schindler Elevator Corporation's U.S. operations. "We are very happy to welcome the Omni Elevator customers into the Schindler organization as we enter this exciting new chapter in our history. Each company stands to gain a good deal from the other's particular strengths, with great prospects for future profitable growth and progress."

"This acquisition is part of Schindler's ongoing growth strategy in the United States and throughout the Americas," said John Impellizzeri, Schindler's Vice President of Business Development.

About Schindler Elevator Corporation

Schindler Elevator Corporation manufactures, installs, services and modernizes a broad range of elevators, escalators and moving walks for various people-moving applications. The company is the North American operation of the Swiss-based Schindler Group, the world's largest escalator manufacturer and the second largest elevator manufacturer. For additional information about Schindler Elevator Corporation, visit the company's Web site at www.us.schindler.com.