euro adhoc: antwerpes AG / Special distribution of funds: • The Board of Directors and Supervisory Board of antwerpes ag will propose to the annual general meeting that a special distribution of 2.50 EUR per share should be agreed (E)

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

Cologne, 9 March 2004 - The Board of Directors and Supervisory Board of antwerpes ag (ISIN DE0005471007 // Symbol 547100) have today decided to propose to the shareholders at the ordinary annual general meeting on 30 June 2004 in Cologne that a special distribution of 14,760,780.00 EUR should be put to the vote. This corresponds to 2.50 EUR per share, calculated on the present total number of antwerpes ag shares. The special distribution shall take place by using the current capital reserve. This shall first of all be converted partly into capital stock, within the framework of an increase in capital using company funds, in order to create dividend amounts by means of a subsequent capital write-down.
The business trend since the IPO has shown that antwerpes ag does not need the full amount of the capital reserve which is
29.2 million EUR. Liquid funds and fixed asset and current asset securities for the antwerpes group amounted to 30.6 million euro as at 31 December 2003 and therefore this was more than 2 million euro above the net issuing proceeds from the IPO in the year 2000. After the special distribution as planned, the residual amount of liquid funds and securities will be about 15 million euro. The Board of Directors and Supervisory Board are of the opinion therefore that, even after the special distribution, the antwerpes group can, as planned, pursue its corporate strategy, particularly as regards growth, internationalization and acquisitions.
According to the regulations as laid down in company law, antwerpes ag may not pay out a special distribution, as approved by the annual general meeting, to the shareholders before six months have expired for reasons relating to the protection of creditors. This six-month period runs from the date on which it is announced that the capital write-down resolution has been recorded in the relevant register of companies by the Lower District Court. The special distribution will not therefore take place before the 1st quarter of 2005. More detailed information on the implementation of the special distribution as planned will be given in the invitation to attend this year's annual general meeting on 30 June 2004 in Cologne and also during this annual general meeting.

Further inquiry note:
Tanja Mumme
Tel.: +49 (0)221 92053 139
E-Mail: tanja.mumme@antwerpes.de
Tel: +49 (0)221 92053 0
FAX: +49 (0)221 92053 133
Email: IR@antwerpes.de

Emittent: antwerpes AG Vogelsangerstr. 66 DE-50823 Köln Tel: +49 (0)221 92053 0 FAX: +49 (0)221 92053 133 Email: IR@antwerpes.de WWW: http://www.antwerpes.de ISIN: DE0005471007 WKN: 547100 Indizes: Prime Standard Börsen: regulated dealing Frankfurter Wertpapierbörse; free trade

end of announcement euro adhoc

Niedersächsische Börse zu Hannover, Berliner Wertpapierbörse, Bayerische Börse, Hamburger Wertpapierbörse, Bremer Wertpapierbörse (BWB), Börse Düsseldorf, Baden-Württembergische Wertpapierbörse Branche: Advertising
Sprache: Englisch

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