Ad-hoc | 17 February 2004 09:36

ATOSS Software AG – Another high dividend payment planned

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– ATOSS Software AG – Another high dividend payment planned Munich, 17.02.2004 – At yesterday’s Supervisory Board meeting, the Management and Supervisory Boards of ATOSS Software AG resolved to propose to its shareholders a further special dividend of EUR 1.50 per share; this proposal will be put to the vote at the company’s Ordinary Shareholders’ Meeting in Munich on April 22, 2004. This special dividend will be paid out of the company’s free capital reserves, and is, therefore, to the best of the management’s knowledge, tax-free for shareholders who hold less than one per cent of the ATOSS shares. If the shareholders agree to the management’s proposal, the special dividend will be paid out on the day after the Ordinary Shareholders’ Meeting, i.e. on April 23, 2004. ATOSS had exercised a capital pay back, also EUR 1.50 per share that was largely funded by the positive operating cash flow of the last financial year, on December 30, 2003. Following this capital pay back of EUR 5.7 million, cash and cash equivalents still totaled EUR 31.9 (prior year: 33.7) million as of December 31, 2003 representing an equity ratio of 87%. Even after this new special dividend, ATOSS will still hold cash and cash equivalents, including the expected positive operating cash flow and excluding acquisitions, of approx. EUR 29 million at the end of the current financial year. end of ad-hoc-announcement (c)DGAP 17.02.2004 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: In January 2003, ATOSS had formulated a dividend policy that provided not only for a basic 30-50% of unappropriated retained earnings as dividends, but also for a minimum dividend of EUR 0.15 in the less successful years. To finance this minimum dividend of EUR 0.15, the company had formed an appropriate reserve as part of its medium-term liquidity planning. In view of its stable earnings power, which would appear to ensure at the least future dividends equivalent to the minimum dividend that was originally provided for, the company has decided to distribute the liquidity reserve formed for this purpose in the current year and to submit a proposed resolution to this effect to the Ordinary Shareholders’ Meeting. In making this decision, the company’s Management and Supervisory Boards also gave due consideration to the fact that, given the company’s persistently very high liquidity and substantial positive operating cash flow among other things, a sustained dividend policy will not hinder the pursuit of its growth policy. The company will therefore continue to pay a dividend amounting to 30-50% of net operating income in future years. In this way, shareholders will not only be offered a stake in a highly promising technology company with all of the associated growth opportunities, but also an attractive dividend yield. The Management Board believes that ATOSS’ continuing high level of capital resources puts it in a secure position to further improve its market position within the framework of the ongoing market consolidation. Over the next few years, the Munich-based software specialist intends to play an active role within the prevailing consolidation process, particularly by way of an offensive sales strategy and selective complementary acquisitions. Important dates: 17.03.2004 Publication of the 2003 annual report, press conference on financial statements 22.04.2004 Press release on provisional figures for the first quarter of 2004 22.04.2004 Ordinary Shareholders’ Meeting in Munich 23.04.2004 Dividend payout Further information: http://www.atoss.com Contact: Christof Leiber – ATOSS Software AG, Am Moosfeld 3, D-81829 Munich Tel.: +49 (0) 89 4 27 71 – 265, Fax: +49 (0) 89 4 27 71 – 100 revolution-in-time@atoss.com ——————————————————————————– WKN: 510440; ISIN: DE0005104400; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart 170936 Feb 04