GFT Technologies SE

euro adhoc: GFT Technologies AG
Layoffs & Downsizing
GFT experiences decline of orders and reduces costs to maintain profitability (E)

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- Having analyzed the orderbooks in detail, GFT Technologies AG experiences a structural decline of orders, which is attributable to a fundamental investment restraint by companies from all industrial sectors and to a massive price pressure. In order to increase capacity utilization and to adjust the company group to suit the current orders position, the GFT Group will reduce workforce by 100 to 120 employees by the end of the year. This represents approximately 10 % of the overall capacity. The Executive Board has adjusted the revenues and profit forecasts for 2002. With revenues of Euro 165m. - whereof Euro 115m. are related to the project business and Euro 50m. to the freelance operations by the recently separated emagine gmbh - the GFT Group should achieve a balanced EBITDA result for the current financial year. For analysts there will be a conference call today from 11.00 to 11.30hrs CET. The access code can be requested for at +49-6196-969-2634. Contact: Sandra Strüwing, Director Corporate Communications, GFT Technologies AG, Leopoldstraße 1, D-78112 St. Georgen, T: +49-7724-9411-423, F: +49-7724-9411-883, M: +49-173-7085834, end of announcement euro adhoc 19.07.2002 --------------------------------------------------------------------- Further inquiry note: Frau Strüwing Sandra Branche: Software ISIN: DE0005800601 WKN: 580060 Börsen: Baden-Württembergische Wertpapierbörse / free trade Bayerische Börse / free trade Berliner Wertpapierbörse / free trade Börse Düsseldorf / free trade Bremer Wertpapierbörse (BWB) / free trade Hamburger Wertpapierbörse / free trade Niedersächsische Börse zu Hannover / free trade Frankfurter Wertpapierbörse / Neuer Markt

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