Scholz & Friends AG

euro adhoc: Scholz & Friends AG
Principal shareholder of SCHOLZ & FRIENDS AG discloses amount of cash compensation (E)

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- Berlin, March 24, 2004 - SCHOLZ & FRIENDS Holding GmbH, the principal shareholder of SCHOLZ & FRIENDS AG, today disclosed the amount of the cash compensation which minority shareholders are to receive as part of the planned squeeze out procedure. The cash compensation will amount to a total of EUR 2.20 for each SCHOLZ & FRIENDS share. On September 12, 2003, SCHOLZ & FRIENDS Holding GmbH submitted a request within the meaning of Section 327a Paragraph 1 of the German Stock Corporation Act to the Management Board of SCHOLZ & FRIENDS AG to have the General Meeting of Shareholders approve the transfer of the shares held by the minority shareholder to SCHOLZ & FRIENDS Holding GmbH in return for an appropriate cash compensation. SCHOLZ & FRIENDS Holding GmbH holds 97.07% of the shares and voting rights in SCHOLZ & FRIENDS AG. The resolution is due to be adopted at the statutory General Meeting of SCHOLZ & FRIENDS AG on May 6, 2004. end of announcement euro adhoc 24.03.2004 --------------------------------------------------------------------- Further inquiry note: Stefanie Frey Tel.: 030/590053-114 Branche: Advertising ISIN: DE0006972805 WKN: 697280 Index: CDAX Börsen: Frankfurter Wertpapierbörse / regulated dealing Berliner Wertpapierbörse / free trade Bayerische Börse / free trade Hamburger Wertpapierbörse / free trade Baden-Württembergische Wertpapierbörse / free trade

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