Thielert AG

euro adhoc: Thielert AG
other
Thielert strongly rejects allegations of fraud circulated by Association for Protection of Shareholders (SdK)

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05.10.2006

Hamburg - Thielert AG rejects the allegations of fraud circulated by the shareholders’ association SdK (Schutzgemeinschaft der Kapitalanleger e.V.) fully and in the strongest terms and states the following:

- Thielert AG has informed the public prosecutor in Hamburg of a criminal offence carried out by an unknown person. The company will defend itself against these false and damaging allegations with all means at its disposal.

- The agreement on a working capital loan and the public share offering are two separate and independent transactions. The company also worked with different banking partners in these transactions, so that no conflicts of interests were possible in this regard.

- As is normal in the aviation industry, and particularly in the defence technology sector, we are involved with very long-term projects. We therefore record the services carried out in this field using the percentage of completion method.

- The SdK’s allegation that an individual impairment loss of EUR3.8 million was recognised is false.

- The company balance sheets have not only been approved by the auditors as part of our annual financial statements, but also underwent a further stringent review before the publication of the prospectus issued in the course of our initial public offering. We also obtained an expert opinion in connection with the aforementioned working capital loan, which did not reveal anything improper.

- Finally, Thielert AG expresses its astonishment at the behaviour of the SdK for allowing itself to be used in this way to propagate unfounded accusations.

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ots Originaltext: Thielert AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Sebastian Wentzler
Head of Corporate Communications
Telefon: +49(0)40/696950-75
E-Mail: ir@thielert.com

Branche: Market research
ISIN:      DE0006052079
WKN:        605207
Index:    SDAX, CDAX, Prime All Share, Classic All Share
Börsen:  Frankfurter Wertpapierbörse / official dealing/prime standard
              Börse Berlin-Bremen / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / free trade



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