The Fantastic Corporation

euro adhoc: The Fantastic Corporation
Layoffs & Downsizing
Fantastic Closes its Daughter Company FirmNET AG (E)

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Fantastic Closes its Daughter Company FirmNET AG

Zug, Switzerland - May 28, 2003 - The Fantastic Corporation (Prime Standard Frankfurt: FAN), a provider of software products that optimize data distribution within corporate networks, today announced the closing of its 100% daughter company FirmNET AG. Fantastic takes this measure in order to further lower operational costs in Europe.

After analyzing several alternatives the company decided to close FirmNET in agreement with the new strategy and the disappointing results of FirmNET. In February 2003 Fantastic had announced that it has shifted its focus solely toward the market of enterprise Content Delivery Networks (eCDN), with a special emphasis on the United States. All of the nine FirmNET employees will be made redundant.

end of announcement            euro adhoc 28.05.2003
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Further inquiry note: Herr Steinacher Dominik

Branche: Software
ISIN:      CH0008310515
WKN:        924382
Index:    Nemax All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Niedersächsische Börse zu Hannover / free trade
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Hamburger Wertpapierbörse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade



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