Ad-hoc | 25 February 2002 15:36

edel music AG english

edel music AG completely debt free Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– edel music AG completely debt free Good progress made on restructuring the edel group edel music today sold part of its publishing division to Warner Music Group and has now finalised most of its planned divestments. The company will in the future concentrate solely on its core business, the development and international marketing of own artists and repertoire. By restructuring the indebted parts of the group, and with the help of a partial waiver from its banks, edel music AG has completely eliminated all its bank liabilities which had been 152 million Euro in the last annual statement by December 31st, 2000. Bank liabilities remaining in the group are ca. 32 million Euro (December 31st, 2000: 210 million). After all necessary valuation reserves are accounted for, the current equity of edel music AG stands for more than 40 million Euro. The complete debt relief of the parent company is a significant step towards the realignment of the edel group. Over the last months progress has also been made in the implementation of the group restructuring plan, which edel developed in conjunction with Roland Berger Strategy Consultants. As part of this concept edel has, in addition to the part sale of the publishing division, disposed of its stake in Play It Again Sam, Eagle Rock Entertainment, RED Distribution and VIVA TV. edel is also restructuring its European record division as part of this plan. The Management Board Hamburg, February 25th, 2002 Contact: edel music AG, Investor Relations, Baerbel Tomas, Phon: +49-40-89085- 225, Mail: baerbel_tomas@edel.com end of ad-hoc-announcement (c)DGAP 25.02.2002 ——————————————————————————– WKN: 564951; ISIN: DE0005649503; Index: Listed: Geregelter Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 251536 Feb 02