Ad-hoc | 29 August 2002 00:59

AC-Service AG english

AC-Service AG launches a stock repurchase program Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– AC-Service AG launches a stock repurchase program Repurchase on the stock market. Favorable valuation as starting point. Solid fundamental company figures. Stuttgart, 29.08.2002 AC-Service AG plans to repurchase up to 400,000 of its own registered shares. The shares will be purchased on the stock market. The price paid for each share (excluding transaction costs) may not deviate by more than 5% above or below the average closing prices in XETRA electronic trading as determined by the Deutsche Börse on the five trading days preceding the acquisition. This decision on the part of the Executive Board represents the partial implementation of an authorization, which was granted by the Shareholders’ Meeting on 26 June 2001 and which expires on 25 December 2002. According to this authorization, the company can acquire up to 10% of the share capital in existence at the time of the authorization, which amounted to EUR 16.2 million – equivalent to up to 540,000 own shares. The driving force behind the repurchase is the currently favorable valuation of the AC-Service shares in conjunction with existing cash flow reserves and solid fundamental company figures. The provider of IT services focusing on high- quality outsourcing and consulting services recently announced its second quarter results for 2002, publishing an increase in sales, earnings and cash flow, and thus endorsing the positive trend of its business development over the last six calendar quarters. The shares are being repurchased in order to ensure the company’s ability to act flexibly and without incurring high costs when acquiring, investing in, or merging companies. Further information is available on the Internet at: www.ac-service.com end of ad-hoc-announcement (c)DGAP 28.08.2002 ——————————————————————————– WKN: 511000; ISIN: DE0005110001; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Hannover und Stuttgart 290059 Aug 02