W.O.M. World of Medicine AG

euro adhoc: W.O.M. World of Medicine AG
Layoffs & Downsizing
WORLD OF MEDICINE intensifies cost-reduction program for VisionWORLD Relocation of all VisionWORLD functions to Ludwigsstadt and Berlin
Closing down of Gröbenzell facilities near Munich /

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- (Berlin, May 28, 2003) W.O.M. WORLD OF MEDICINE AG announced the closing down of its Gröbenzell facilities near Munich, and thus continues its cost-reduction program, which was launched in mid-2002. As a result of this closing down, W.O.M. WORLD OF MEDICINE AG expects additional savings of approximately EUR 1.1 million per annum. This should have an effect on net income in the next business year. Together with an already-implemented program for increasing profitability, savings totalling EUR 3.5 million per year will be achieved compared to the cost structures of mid-2002. The VisionWORLD business division (cameras, light sources, monitors and video documentation systems for Minimally Invasive Surgery - MIS, for short) located in Gröbenzell currently has twenty-nine employees, twenty of which have already received notices of termination for operational reasons. Nine employees will continue working at other locations. The closing down of the Munich facility is planned for the end of September 2003. The products of the VisionWORLD business division continue to be important components of the product portfolio. The manufacture of these products will be relocated to company headquarters in Ludwigsstadt. Ludwigsstadt has state of the art production facilities and qualified employees, who have already been producing VisionWORLD light sources and monitors since mid-2002. The division's Research & Development and Sales departments will operate from Berlin. Efficiency and innovative power of our Group of Companies will be further strengthened by these decisions. The Management Board end of announcement euro adhoc 28.05.2003 --------------------------------------------------------------------- Further inquiry note: Contact: Wilma Mitzlaff, wilma.mitzlaff@womcorp.com, phone: +49 (30) 399 81 526 Branche: Pharmaceuticals ISIN: DE0006637390 WKN: 663739 Index: Prime Standard Börsen: Frankfurter Wertpapierbörse / regulated dealing Niedersächsische Börse zu Hannover / free trade Berliner Wertpapierbörse / free trade Bayerische Börse / free trade Hamburger Wertpapierbörse / free trade Bremer Wertpapierbörse (BWB) / free trade Börse Düsseldorf / free trade Baden-Württembergische Wertpapierbörse / free trade

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