euro adhoc: Sartorius AG / Sartorius Minority Shareholding Diessel GmbH & Co. KG Files for Insolvency (E)

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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The executive management of Diessel GmbH & Co. KG in Hildesheim filed
a petition today to open insolvency proceedings. B. Braun Biotech
International GmbH, a subsidiary of Sartorius AG, is a minority
shareholder in Diessel GmbH & Co. KG, with 38.88 percent.

This step became unavoidable due to an excess of liabilities over
assets, combined with the company's impending inability to pay debts.
A thorough analysis, introduced after the occurrence of
irregularities, uncovered not only serious misjudgements but also
manipulations, some of which were extensive, in inventory figures and
project handling in past financial periods. The analysis disclosed a
failure to preserve the company's real-asset values which cannot be
compensated by Diessel's positive market position, nor by the
synergies aspired to with the Sartorius Group.

The Sartorius Group anticipates a one-time, non-cash related burden
on its earnings before interest and taxes (EBIT) in fiscal 2003 due
to the petitioned insolvency, in an amount within the single-digit
range (in millions of euros). The Executive Board of Sartorius AG is
currently considering its options for taking legal action in this
matter.

Further inquiry note:
Rainer Lehmann
Tel.: +49 551 308 4034
rainer.lehmann@sartorius.com
Tel: +49 (0)551 308 0
FAX: +49 (0)551 308 289
Email: info.investor@sartorius.com

end of announcement        euro adhoc 30.09.2003
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Emittent: Sartorius AG
          Weender Landstr. 94-108
          DE-37075 Göttingen
Tel:      +49 (0)551 308 0
FAX:      +49 (0)551 308 289
Email:    info.investor@sartorius.com
WWW:      http://www.sartorius.com
ISIN:     DE0007165607, DE0007165631
WKN:      716560, 716563

Indizes: CDAX, Prime All Share, Prime Standard, Technologie All
Share
Börsen: official dealing Niedersächsische Börse zu Hannover,
Frankfurter Wertpapierbörse; free trade Berliner Wertpapierbörse,
Bayerische Börse, Hamburger Wertpapierbörse, Bremer Wertpapierbörse
(BWB), Börse Düsseldorf, Baden-Württembergische Wertpapierbörse
Branche: Biotechnology
Sprache: Englisch

OTS0213    2003-09-30/15:39

OTS-ORIGINALTEXT UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS | OTB

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