LUXEMBURG, September 20 /PRNewswire/ --

International Railway Systems ("IRS"), the European leader in freight
wagon manufacturing, today announced that Juergen von Schwerin, 51, has been
appointed Chief Executive Officer. Mr. von Schwerin will assume his position
immediately and oversee all three divisions (rail manufacturing, transport
fleet management and marine) of the IRS Group, with expected revenue of euro
350 million in 2007 (euro 95 million in 2006).

Cristian Burci, President of IRS, said: "I am pleased to welcome Juergen
to the IRS management team. He is a proven executive with an impressive track
record and strong business acumen. Juergen's leadership skills will be a
valuable asset as we continue to build on our position as the largest freight
wagon manufacturer in Europe."

Juergen von Schwerin commented, "IRS is an innovator and leader in its
market. With assets across Europe, IRS is well positioned to capitalize on
the rapidly expanding economies of the region and is actively pursuing a
number of growth opportunities to expand its business. I look forward to
working with the IRS management team as we execute on our growth initiatives
and strategic plan."

Since November 2001, Mr. von Schwerin has served as Chief Financial
Officer and Senior Vice President of SBS Broadcasting Group where he was part
of the management team that built SBS into one of Europe's largest
broadcasting companies. While at SBS, he oversaw the acquisition of the
company by KKR and Permira for euro 2.1 billion in 2005 and its recent sale
to ProSiebenSat.1 Media AG for euro 3.3 billion. From 1992 to 2001, Mr. von
Schwerin served as Financial Director for MGM Media Gruppe Munich and held
several management positions at ProSiebenSat.1 in Germany. From 1986 to 1992,
while at Deutsche Bank, Mr, von Schwerin occupied various positions including
Financial Analyst of Corporate Finance and Vice President of Project Finance
in Germany and Australia.

International Railway Systems (IRS), headquartered in Luxemburg, is
Europe's largest freight railway wagons manufacturer and a leading producer
of bogie and forged parts for the railway industry. The company operates
three divisions which consist of six main business units: Rail Manufacturing
(Astra Vagoane Arad S.A., Meva S.A. Turnu Severin, Romvag Caracal S.A. --
rail car production and MSV Metal Studenka S.A. -- forged parts
manufacturer), Transport Fleet Management (Servtrans Invest S - railway
transport) and Marine (SEVERNAV - shipyard).

For additional information please visit www.irsgroup.eu.

Web site: http://www.irsgroup.eu