EANS-Voting Rights: P&I Personal & Informatik AG / Release according to article 26, section 1 WpHG (Securities Trading Act) with the aim of Europe-wide distribution

Notification of voting rights transmitted by euro adhoc. The issuer is responsible for the content of this announcement.

Announcement according to Article 27a, Section 1 of the WpHG

With reference to the announcements released by P&I Personal & Informatik Aktiengesellschaft ("P&I") in compliance with § 27a, German Securities Trading Act on July 13, 2009 (published by P&I on July 15, 2009) and February 17, 2010 (published by P&I on February 19, 2010) P&I was informed on December 30, 2010 by:

(a) Argon GmbH & Co. KG ("Argon"), Munich, Germany,
(b) Argon Verwaltungs GmbH, Munich, Germany,
(c) CETP Investment 1 S.à r.l., Luxembourg, Luxembourg,
(d) CETP II Participations S.à r.l. SICAR, Luxembourg, Luxembourg, (e) Carlyle Europe Technology Partners II, L.P., George Town, Grand Cayman, Cayman Islands,
(f) CETP II Managing GP, L.P., George Town, Grand Cayman, Cayman Islands, (g) CETP II GP, L.P., George Town, Grand Cayman, Cayman Islands, (h) CETP II Managing GP Holdings, Ltd., George Town, Grand Cayman, Cayman Islands,
(i) CETP II Investment Holdings, L.P., George Town, Grand Cayman, Cayman Islands,
(j) CETP II GP (Cayman), Ltd., George Town, Grand Cayman, Cayman Islands, (k) TC Group Cayman Investment Holdings, L.P., George Town, Grand Cayman, Cayman Islands,
(l) CETP II ILP (Cayman) Limited, George Town, Grand Cayman, Cayman Islands, (m) TC Group Cayman, L.P. George Town, Grand Cayman, Cayman Islands, (n) TCG Holdings Cayman II, L.P., George Town, Grand Cayman, Cayman Islands, (o) TCG Holdings Cayman, L.P., George Town, Grand Cayman, Cayman Islands, (p) DBD Cayman, Limited, George Town, Grand Cayman, Cayman Islands, and the (q) Carlyle Offshore Partners II, Limited George Town, Grand Cayman, Cayman Islands,

(the companies listed under (b) to (q) are classified as "persons acting in conjunction with Argon") in accordance with § 27a, Para. 1, Sentence 2 of the German Securities Trading Act, that the information published on July 13, 2009 and February 17, 2010 and the objectives of Argon and the persons acting in conjunction with Argon that you were informed about with regard to P&I on December 2, 2010 has changed as follows:

1. Argon and the persons acting in conjunction with Argon intend that Argon will acquire further shares and therefore further voting rights in P&I and that the resulting holding in P&I will be increased so that it exceeds 75 per cent.

2. As soon as Argon exceeds the 75 per cent of voting rights in P&I, both Argon and the persons acting in conjunction with Argon propose to conclude a controlling and profit transfer agreement between Argon as the controlling company and P&I as the controlled company. This might well result in important changes being made to the capital structure of P&I, which might also effect the ratio between equity and debt financing as well as the dividend policy. After the intended controlling and profit transfer agreement has come into effect, Argon and the persons acting in conjunction with Argon will expressly propose that (i) P&I will continue to act as the guarantor for the financing agreements acceded to Argon and that (ii) Argon, in agreement with the Board of Directors, will assume P&I's outstanding loans.

3. The funds used to acquire the voting rights in P&I will be raised from Argon's own equity capital as well as external financing. The own equity capital will be a combination of equity capital and partner loans, which Argon will make available indirectly from Carlyle European Technologies Partners II, L.P. funds. The external financing will be made available through financing agreements that Argon concluded with several banks on December 2, 2010.

end of announcement euro adhoc

issuer: P&I Personal & Informatik AG
Kreuzberger Ring 56
D-65205 Wiesbaden
phone: +49(0)611 7147 267
FAX: +49(0)611 7147 367
mail: aktie@pi-ag.com
WWW: www.pi-ag.com
sector: Software
ISIN: DE0006913403
indexes: CDAX, Prime All Share, Technology All Share stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Hamburg, Stuttgart, Düsseldorf
language: English

Rückfragen & Kontakt:

Andreas Granderath
+49 (0)611 7147-267
agranderath@pi-ag.com

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