Neschen AG

euro adhoc: Neschen AG
Restructuring & Recapitalisations
Neschen AG - amendment of EbIT
EbITDA and capital increase

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08.05.2007

Due to the incorrect allocation of activated deferred taxes as well as a reclassification of a tax refund received in the Netherlands, the data reported for EbIT and EbITDA within the ad hoc announcement of March 14th 2007 is not correct.

For the financial year of 2006 the EbIT is -0.6 EURMio. (2005: -4.0 EURMio.) and the EbITDA is 0.5 EURMio. (2005: 2.4 EURMio.). The adjusted EbIT, excluding the restructuring costs, is 4.6 EURMio.

The reported result after tax of -3.3 EURMio (2005: -9.4 EURMio.) remains unchanged.

The turnover of 33.8 EURMio. in the first quarter of 2007 lies within the expected range. EbIT is 2.1 EURMio. (6.3%); the result after tax is slightly above budget.

Furthermore the Members of the Board have decided today to increase the current subscribed capital of 8.75 EURMio. by the authorized capital of 4.375 EURMio., up to 13.125 EURMio. by issuing common shares without nominal value.

The newly issued shares, which strengthen the equity, with an entitlement to dividends from January 1st 2007, can be drawn by the shareholders at a ratio of 2:1 and a price of Euro 1.10 per share between May 15th and May 31st.

As agreed in the recapitalisation agreement signed with Neschen AG the US-investment bank Bear Stearns will purchase up to a maximum of three million of the unsubscribed shares. Due to the structure of the shareholders the Members of the Board expect to place the total allocated capital increase.

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ots Originaltext: Neschen AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Jan Marzinowski
Tel.: +49 (0)5722 207 153
E-Mail: j.marzinowski@neschen.de

Branche: Process Industries
ISIN:      DE0005021307
WKN:        502130
Index:    CDAX
Börsen:  Börse Berlin-Bremen / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Frankfurter Wertpapierbörse / official dealing/general
              standard
              Niedersächsische Börse zu Hannover / official dealing



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