ESCADA AG

euro adhoc: ESCADA AG
Restructuring & Recapitalisations
ESCADA capital measures raise more than EUR 90 million (E)

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Aschheim/Munich, October 24, 2003 - The market has responded with great demand to ESCADA AG’s convertible bond issue and its new stock offering under a capital increase. The gross proceeds for the company will amount to EUR 90.7 million, well above all expectations. The capital increase, for up to 7.08 million new shares of common stock at EUR 10 per share, was fully subscribed and thus generated EUR 70.8 million. This will mean a EUR 36.3 million increase in ESCADA AG’s stock capitalization, from EUR 39.6 million to EUR 75.9 million. The company received the remaining EUR 19.9 million from a convertible bond issue at a par value of EUR 10 per participation certificate. On conversion, these bonds carry rights to 1.99 million new shares of ESCADA. As planned, US private equity company HMD Partners invested a total of EUR 45 million in ESCADA by subscribing for part of the new stock and bonds. The remaining EUR 45.7 million came from existing ESCADA shareholders.

end of announcement            euro adhoc 24.10.2003
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Further inquiry note: Viona Brandt Tel.: +49 (0)89 9944 1336 E-Mail: viona.brandt@de.escada.com

Branche: Clothing
ISIN:      DE0005692107
WKN:        569210
Index:    CDAX, Classic All Share, Prime All Share, Prime Standard, SDAX
Börsen:  Berliner Wertpapierbörse / official dealing
              Bayerische Börse / official dealing
              Frankfurter Wertpapierbörse / official dealing
              Bremer Wertpapierbörse (BWB) / regulated dealing
              Hamburger Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade



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