According to a press release dated June 7, 2006, the complaint charges Xerium and certain of its officers and directors with violations of the Securities Act. Xerium engages in the manufacture and supply of consumable products used in the production of paper. Specifically, the complaint alleges that the Prospectus and Registration Statement (the "Prospectus") issued in connection with the Company's Initial Public Offering ("IPO") on or about May 16, 2005, contained untrue statements of material facts, omitted to state other facts necessary to make the statements made not misleading and was not prepared in accordance with the rules and regulations governing its preparation. Specifically, the complaint alleges that, at the time of the IPO, Xerium was undergoing "Cost Reduction Programs" which were negatively impacting its business and forcing it to have customers seek out other producers. Among other things, the Prospectus purported to warn about the potential negative impact of these programs but failed to disclose that the Company's business was then being negatively impacted by the Cost Reduction Programs and the loss of business associated therewith. The complaint further alleges that on or around November 14, 2005, Xerium issued a press release announcing its financial results for the third quarter of 2005, the period ending September 30, 2005. The Company also reported that its cost reduction programs had severely impacted its results, causing the Company to experience declining net income. In response to this announcement the price of Xerium common stock dropped from $9.51 per share to $6.85 per share on extremely heavy trading volume.

If you bought Xerium Technologies, Inc. securities between May 16, 2005 and November 15, 2005, inclusive, and would like to obtain information about the Xerium Technologies, Inc. lawsuit, then you are invited to call (866) 467-1400 to speak with an attorney.