The Fantastic Corporation

euro adhoc: The Fantastic Corporation
Layoffs & Downsizing
Fantastic Restructures to Facilitate the Focus on eCDN Market in U.S. (E)

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Fantastic Restructures to Facilitate the Focus on eCDN Market in U.S.

Zug, Switzerland - June 13, 2003 - The Fantastic Corporation (Prime Standard Frankfurt: FAN), a provider of software products that optimize data distribution within corporate networks, today announced a restructuring focused primarily on its office in Zug, Switzerland. In line with the previously announced focus on the enterprise Content Delivery Market (eCDN) in the U.S., the board of directors and the management of The Fantastic Corporation are implementing further steps to streamline the company.

"For us, this is a logical step after the announced change of the focus on the enterprise content delivery market (eCDN) in February 2003 and the lower than expected revenues in the first quarter 2003", said Alain D. Bandle, CEO of Fantastic. "There are some positive signs for the eCDN market in the U.S., but we are taking proactive measures to reduce our operational costs to a minimum," Bandle adds.

As a result of the restructuring, the current Fantastic workforce of 32 employees will be reduced to 15. The majority of those employees will be based in the U.S. with a focus on development, customer service and sales/ marketing. The program and all related charges are expected to be completed by the end of September 2003.

end of announcement            euro adhoc 13.06.2003

Further inquiry note: Herr Steinacher Dominik

Branche: Software
ISIN:      CH0008310515
WKN:        924382
Index:    Nemax All Share
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

Weitere Meldungen: The Fantastic Corporation

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