DEWB sells its stake in 4flow AG

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Jena (euro adhoc) - Jena/Berlin, 18 February 2008 - Deutsche Effecten- und
Wechsel- Beteiligungsgesellschaft AG (DEWB) has sold its shareholding in 4flow
AG 4flow), Berlin, to the company´s management. The purchase price for the
44.4 percent investment totaled 6.5 million euros. The purchase price will be
paid in several tranches and affect sales revenues for the 2007 business year
in the discounted sum of 5.6 million euros. The disposal of the shareholding
provided a significant contribution to earnings. The companies also concluded
an enhancement agreement which will lead to a subsequent increase in the
purchase price if the underlying corporate plan is exceeded. This gives DEWB
the opportunity to participate in the continuing potential of 4flow to create
added value.

"We are pleased that the sale of 4flow has enabled us to realize another of
the exits that we announced to take place in 2007. With a valuation of
approx. 15 million euros, a figure that represents 20 times the operating
result and 2.5 times the 2007 sales, we have successfully achieved higher
than average proceeds from this exit. Markedly lower multiples of around
seven and one respectively are being reached for comparable transactions,"
explains Bertram Köhler, Member of the DEWB Management Board. "This exit
is further proof of a successful and value-enhanced disposal of investment
holdings which do not form part of our technology focus on photonics and
sensor systems," continues Köhler.

DEWB had held a stake in 4flow since 2000. Over the past years the
company has successfully established itself as a leading provider of logistics
consulting and supply chain management software. Based on the business
model and its strong dependency on key individuals an owner-managed
company offered the best structure for 4flow. The corresponding desire of
the management to effect a full takeover of the company by way of a
Management Buyout (MBO) opened up an attractive exit opportunity for
DEWB.

DEWB will be announcing the figures for the 2007 business year with the
publication of its Annual Report on 28 February 2008.

About 4flow
The Berlin/Germany based 4flow AG is leading provider of logistics consulting
and supply chain management software. 4flow consulting offers one-stop
management consulting, concept creation and support in the implementation of
logistics and supply chain management. 4flow vista is the standard software for
supply chain design and optimisation. 4flow turn is the webbased standard
software for inventory optimisation.

About DEWB
Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG (DEWB AG, Prime
Standard, Securities No.: 804100 / ISIN: DE0008041005) is an investment company
that specialises in young and established medium-sized companies. The focus of
our investments is on strong growth companies from the areas of photonics and
sensor systems for which we provide support through shareholders´ equity,
expertise in corporate development and our sector
network. Our regional focus lies in the German speaking countries (D, A, CH).
Since 1997 we have invested more than 300 million Euros in 53 companies and
realized more than 400 million Euros through 35 exits, eight of which were in
the form of IPOs. The company is located in Jena, one of the most successful
technology and science regions in Germany, with a long tradition in the field of
optical technologies and one of the most important European centres for
photonics.

Further inquiry note:
Marco Scheidler
DEWB AG
Phone: +49 (0) 3641 573 3600
Fax: +49 (0) 3641 573 3610
E-Mail: ir@dewb-vc.com
www.dewb-vc.com

end of announcement euro adhoc
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emitter: Deutsche Effecten- und Wechsel-Beteiligungsges. AG
Leutragraben 1
D-07743 Jena
phone: +49 (0)3641 573 3600
FAX: +49 (0)3641 573 3610
mail: ir@dewb-vc.com
WWW: http://www.dewb-vc.com
sector: Financial & Business Services
ISIN: DE0008041005
indexes: CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Börse Frankfurt, free trade:
Börse Berlin, Börse Stuttgart, Börse München
language: English

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