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Pironet NDH

Pironet: Management board change - 2nd quarter sees company break even

Cologne (ots)

Pironet AG, Cologne-based software producer in
content management, has released satisfying figures for the second
quarter of this year. When presenting the company's latest interim
report today, its management board chairman and founder Mehrdad
Piroozram also announced his retirement from the company as of 31
August 2001. Upon his proposal, Mr. Hans-Werner Scherer, who already
chaired the Pironet AG management board when the company successfully
introduced its IPO, will become his successor as of 1 September 2001.
Besides appointing Mr. Scherer as new management board chairman, the
company's supervisory board also nominated Mr. Felix Höger who
already was member of management board as its deputy chairman.
Mr. Piroozram, who will in future remain related to Pironet AG as
a consultant and major shareholder, is leaving a well-performing
company to his successor. This is proved by the figures for the first
six months of this year showing sales of Euro 12.2 m (Euro 10.7 m in
the first year-half, 2000) and a net result of Euro -0.8 m (-0.9 m
last year). Following a bad start in the first quarter of this year,
the second quarter saw Pironet AG achieve a balanced result and a
positive cash flow of Euro 0.5 m. The company's liquid funds reached
Euro 30.2 m at mid-year, representing 62 % of its balance amount
total at this date and a capitalisation of Euro 2.07 per share.
The company's latest interim report can be loaded down under
www.pironet-ndh.com/ir.
The Board of Management

Contact:

Pironet NDH AG
Investor Relations
Josef-Lammerting-Allee 14-18
D-50933 Cologne
Phone +49 221 770 1150
Fax +49 221 770 1155
E-mail: ir@pironet-ndh.com
Internet: www.pironet-ndh.com/ir

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