Atlantic Investment Management Inc. disclosed beneficial ownership of 3,854,761 Diebold Inc. shares, representing 5.1% of the company's outstanding shares.

Atlantic Investment Management serves as investment adviser to AJR International Master Fund Ltd., Cambrian Master Fund Ltd., Cambrian Global Master Fund Ltd. and other accounts. The shares were purchased on behalf of such entities and accounts using their investment capital. The aggregate amount of funds for the purchases was about $91.5 million.

The shares were acquired for investment purposes.

Atlantic Investment Management has discussed and expects to continue to discuss with Diebold's management, board, other shareholders, industry analysts, strategic partners or competitors and other third parties matters regarding Diebold's business, management, capital structure and allocation, corporate governance, board composition and strategic alternatives and direction, among other things. Atlantic Investment Management may also take other steps seeking to increase Diebold's shareholder value.