Das Werk AG

euro adhoc: Das Werk AG
Bankruptcy
DAS WERK AG has filed an application to start insolvency proceedings (E)

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The management board of DAS WERK AG has filed an application to start insolvency proceedings at the Amtsgericht Frankfurt (the Local Court of Frankfurt am Main). Dr. Lessing, Frankfurt, has been appointed as the preliminary insolvency administrator.

The application concerns only the publicly quoted holding company (the AG). The subsidiaries are not directly affected by the application. The application does not concern the das werk postproduction companies, which will continue to run their business unchanged. Magic Video in Hamburg as well as all foreign subsidiaries in the segments postproduction (CFX, das werk Zurich, EnEfecto, Glassworks), film production (FFP Media, Promark Entertainment, Road Movies) and animation (Trixter) are not included in the application and therefore are not directly affected by the application.

The sale of interests in companies held by DAS WERK AG is planned to be continued. As announced in August 2002 the das werk postproduction companies will be merged in a new incorporation. The character of the incorporation and the scope of the future business will have to be discussed between the preliminary insolvency administrator of the holding company DAS WERK AG, banks and management.

end of announcement            euro adhoc 06.11.2002
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Further inquiry note: Herr Wolfgang Borgfeld, Das Werk AG, E-Mail: presse@das-werk.de

Branche: Media
ISIN:      DE0005412001
WKN:        541200
Börsen:  Baden-Württembergische Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Berliner Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Hamburger Wertpapierbörse / free trade
              Niedersächsische Börse zu Hannover / free trade
              Frankfurter Wertpapierbörse / Neuer Markt



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