Ad-hoc | 28 January 2003 07:30

DEWB AG english

DEWB reports a loss for the 2002 business year due to value adjustments. Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– DEWB reports a loss for the 2002 business year due to value adjustments. Negative operating result (EBIT) due to value adjustments to investments in the sum of 19 million euros. Earnings of 25 million euros from investment sales despite the difficult environment. DEWB AG (Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft) did not reach its target of recording at least a balanced result for the 2002 business year. The reason for this was the decision to carry out value adjustments to the investment portfolio in the sum of 19 million euros. After critical examination of the situation as a result of the continuing subdued mood on the markets, all the write-down risks that are currently identifiable were taken into account in addition to the earlier conservative assessment for each individual portfolio company. According to the provisional calculations DEWB will show an EBIT of minus 19 million euros for the 2002 business year just passed (prev. year. 25.1 million euros), this figure including value adjustments in the sum of 19 million euros. The net loss will be approx. minus 22 million euros (prev. year. 20.7 million euro net income) including total value adjustments of around 21 million euros . The book value of DEWB’s investment portfolio amounts to approx. 90 million euros in accordance with German trade law. In the business year just passed DEWB also succeeded in selling investment holdings. The largest transaction in the 2002 business year was the placement of shares in Carl Zeiss Meditec AG at the end of the fourth quarter. The merger between TePla AG and PVA Vakuum-Anlagen GmbH to form PVA TePla AG was also successfully completed. These and other transactions which are in the preparation stage are a key condition for DEWB remaining on its long-term path of success. In the final analysis, viewed over the last five years, with a return on capital of 27 percent p.a. (Internal Rate of Return, IRR) DEWB is one of the most successful European venture capital providers. Contact: Steffen Schneider, DEWB AG, Investor Relations Telephone / Telefax: ++49 3641 65 22 90 / 65 2157 E-Mail: steffen.schneider@dewb-vc.com, Internet: http://www.dewb-vc.com end of ad-hoc-announcement (c)DGAP 28.01.2003 ——————————————————————————– WKN: 804100; ISIN: DE0008041005; Index: Listed: Amtlicher Markt in Berlin und Frankfurt (Prime Standard) 280730 Jän 03