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euro adhoc: ABIT AG / ABIT AG Wins Development Contract Valued at EUR 1.7 Million (E)

Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.

Meerbusch, 7 January 2003. ABIT AG has won a development contract in the amount of EUR 1.7 million. The contracting party is a well-known German company in the banking industry. As part of the agreement, ABIT will align its solution for credit operations to the individual requirements of the credit process in the client firm and thereby technically enhance its application. Project completion is forecast for the second half of 2003.

+++ Explanatory Information +++

ABIT's browser-enabled software is a credit-management solution for the entire back office area of credit operations - for all sizes of loan exposures and all groups of institutions, suitable for both private and corporate-customer transactions. The browser-supported application obviates the previous requirement of individual installation at each workstation within the company. It will be centrally installed, for instance at data processing centers or group headquarters, and will provide decentralized, structured querying and processing capabilities for data inventories to all employees at connected firms. The software can be integrated into all commonly used system landscapes. The solution's module construction also delivers a high degree of customization possibilities.

Jürgen Baltes, sole member of the board of ABIT AG, stated, "We feel that a contract of this magnitude, especially against a backdrop of general conservatism in IT purchasing, must be viewed as a success and evidence of trust in the quality of our solutions. With this contract, ABIT is expanding its market position within the banking industry as a supplier of solutions to support credit processes. Thus, we have further proof of the success of our strategy of providing a new generation of network-centered applications to the market early, to replace the very successful DOS solutions from ABIT."

Further inquiry note:
Investor Relations
Brigitte Gray
Phone.: +49 (0) 2150-9153 898
Fax: +49 (0) 2150-9153 299
Mail: investor@abit.de
Tel: +49(0)2150 9153 0
FAX: +49(0)2150 9153 294
Email: investor@abit.de

end of announcement euro adhoc

Emittent: ABIT AG
Robert-Bosch-Strasse 1
DE-40668 Meerbusch
Tel: +49(0)2150 9153 0
FAX: +49(0)2150 9153 294
Email: investor@abit.de
WWW: www.abit.net
ISIN: DE0005122501
WKN: 512250
Indizes: Nemax All Share
Börsen: Neuer Markt Frankfurter Wertpapierbörse; free trade Baden-Württembergische Wertpapierbörse, Bayerische Börse, Berliner Wertpapierbörse, Börse Düsseldorf, Hamburger Wertpapierbörse, Niedersächsische Börse zu Hannover
Branche: Software
Sprache: Englisch