init innovation in traffic systems AG

euro adhoc: init innovation in traffic systems AG
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init sales in fourth quarter increase by more than 30 per cent

---------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc.   The issuer is responsible for the content of this announcement. ---------------------------------------------------------------------

23.02.2005

Karlsruhe, February 23, 2005. In the fourth quarter of 2004, init innovation in traffic systems AG continued its positive development and managed to exceed the expectations for both sales and profit. According to preliminary figures, the company turned over a good 15 million Euro in the year-end quarter, thus topping the prior year figure (Q4 2003: 11.5 million Euro) by well over 30 per cent.

Along with the satisfactory sales trend particularly in international business, the now completed rationalization of internal structures also proved to have a positive effect on the operating result. Thus, the earnings before interest and taxes (EBIT) confirmed the upward trend started in the previous quarter and are also likely to be well above the comparative prior-year figure(Q4 2003: 1.4 million Euro).

Owing to the strong final quarter, init managed to perform better than expected for the year. With accumulated revenues exceeding 32 million Euro, the annual sales target revised last August to 30 million Euro was clearly exceeded. Even the EBIT for 2004 is anticipated to outperform the loss of 2.0 million Euro predicted only last summer.

In view of a noticeable upturn in Germany, the continued positive trend in international business, and the cost savings, init forecasts a distinctly positive result for 2005.

The audited 2004 annual financial statements, the full Report of the Managing Board, and a forecast for 2005 will be published on March 30.

For more information please contact:

Alexandra Weiß init innovation in traffic systems AG Kaeppelestraße 6 76131 Karlsruhe Tel.: 0721/6100-102 Fax: 0721/6100-399 info@initag.de

Sebastian Brunner rw konzept GmbH Ysenburgstraße 7 80634 München Tel.: 089/139596-33 Fax: 089/139596-34 Mobil: 0175/5604673 brunner@rw-konzept.de

end of announcement                                euro adhoc 23.02.2005 07:23:23
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Further inquiry note: Alexandra Weiß Investor Relations Telefon:  +49(0)721 6100-102 E-Mail: aweiss@initag.de

Branche: Semiconductors & active components
ISIN:      DE0005759807
WKN:        575980
Index:    CDAX, Prime All Share, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Niedersächsische Börse zu Hannover / free trade
              Bayerische Börse / free trade
              Bremer Wertpapierbörse (BWB) / free trade



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