EANS-Adhoc: Lycos Europe N.V. / Announcement of delisting of Lycos Europe N.V.'s shares listed on Euronext Paris

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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30.07.2009

Lycos Europe N.V. (Euronext NL 0000233195-LYC/ Xetra WKN 932728 LCY) hereby
announces its intention to delist its ordinary shares listed on NYSE Euronext
Paris.
This decision is principally due to the following facts:
* Due to its results and prospects Lycos Europe N.V. announced a shutdown
process on 26 November 2008 which was agreed upon by the extraordinary
shareholders' meeting on 12 December 2008 held in Amsterdam. Pursuant to this
shutdown process as of today:
- Lycos has sold several business units including United-Domains, the Danish
portal business and Lycos iQ;
- Lycos is looking for a buyer for the shopping unit called Pangora;
- The majority of the employees have been released by April 1, 2009; and
- Lycos has terminated the better part of nearly 600 agreements (e.g. sales,
marketing, technical agreements).
* As a result of this strategy Lycos Europe N.V. will become a publicly
listed company without a significant operational business and it is
contemplated to liquidate the company within five to seven years.
* The current dual listing of Lycos Europe N.V. is no longer coherent in
the context of the implementation of its new strategy.
* The listing of Lycos Europe N.V. on Euronext Paris creates extra costs
and administrative burdens which are no longer justified given the strategy
of the company.
* Lycos Europe N.V. has presently carried out capital reimbursements of EUR
85 million for the benefit of its shareholders and will continue to do so as
the assets are liquidated. Following these successive reimbursements, the
trading value of the shares will be reduced to even lower levels than is
presently the case.
Due to several remaining agreements and in particular an escrow arrangement
with United Internet the purchaser of the Domains Business, whereby EUR 7
million of the purchase price was put in escrow (until latest 2014) as
security Lycos Europe N.V. obligations under the sale, Lycos Europe N.V.'s
final liquidation of the company will presumably not take place before 2014.
On the basis of the facts set out above, Lycos Europe N.V. has requested its
delisting. The Board of NYSE Euronext Paris accepted the delisting request of
Lycos Europe N.V. and decided that the delisting from the French regulated
market would become effective on 3 January 2010 close of business. This time
gap was provided to give the Lycos Europe N.V. shareholders an opportunity to
sell their shares on Euronext Paris before the shares are delisted.
Please note that this delisting may have an effect on the trading practices and
terms and conditions that are applicable to you if you hold shares in Lycos
Europe N.V. once these shares are no longer listed on Euronext Paris. As from
the delisting of the shares of Lycos Europe N.V. on 4 January 2010 your
financial intermediary will have until 15 January 2010 close of business to
organize the transfer of your Lycos Europe N.V. shares portfolio to a German
depository. You should discuss this with your broker or banker.
If you intend to keep your shares in Lycos Europe N.V., please note that as at
4 January 2010, your shares will solely remain listed on the regulated market
general standard of the Frankfurt Stock Exchange (FWB), which should permit a
sufficient trading liquidity for the shares, and it is not currently
contemplated to delist the shares of the company from this market.
Lycos Europe N.V.

Further inquiry note:
Investor relations Lycos Europe N.V.:
Jochen Hög - Tel : + 49 (0) 5241 80 71244 - Email :
jochen.hoeg@lycos-
europe.com

end of announcement euro adhoc
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emitter: Lycos Europe N.V.
Richard Holkade 36
NL-2033 PZ Haarlem
phone: +49 (0)524180 71000
FAX: +49 (0)524180 71450
mail: [email protected]
WWW: http://www.lycos-europe.com
sector: Software
ISIN: NL0000233195
indexes: Prime All Share, Technologie All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, Hannover, Euronext Paris, München
language: English

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