MIM MONDO IGEL MEDIA AG

euro adhoc: MIM MONDO IGEL MEDIA AG
Quarterly or Semiannual Financial Statements
MIM AG Raises Revenues 225%, EBITDA Positive Again in First Half-Year; Capital Reduction Completed (E)

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MIM MONDO IGEL MEDIA AG published its results today for the first six months of 2004. Besides increasing turnover more than threefold over the first half of last year to EUR1 million (2003: EUR310k), the cost-reductions implemented by the new management helped raise the EBITDA to EUR692k at the end of the second quarter (2003: EUR-279k).

As of 28 July 2004, the capital reduction which was decided upon by the Annual Shareholders’ Meeting on 5 April 2004 is registered with the Hanseatische Wertpapierbörse Hamburg. The first day’s trading of the new ISIN DE000A0BVUP8 closed with a price of EUR1.40.

"These results make it clear that MIM AG is now on the right path," says Riccardo Corradi, CEO of MIM AG. "Our growing importance in the market as a German co-producer and distributor will add to our value. We will be a viable, meaningful force in the future. Our direct and declared goal is to attain a share of the entertainment market in Germany for MIM. We are definitely and obviously on the right path, a path that is clearly different from the past."

end of announcement            euro adhoc 29.07.2004
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Further inquiry note: jharris@mim.ag

Branche: Media
ISIN:      DE0006228505
WKN:        622850
Index:    
Börsen:  Hamburger Wertpapierbörse / regulated dealing
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Frankfurter Wertpapierbörse / free trade



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