Lintec Computer AG

euro adhoc: Lintec Information Technologies AG
Ad hoc announcement by LINTEC Information Technologies AG (Securities Code Number 648 600, ISIN DE0006486004) in accordance with Section 15 German Securities Act: breakthrough in the `chip deal sur

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Following lengthy negotiations with Passau tax office, LINTEC Information Technologies AG has now achieved another breakthrough regarding LINTEC´s surety for its subsidiary Batavia Multimedia AG in connection with the `chip deal´ affair - and hence thrown off another financial millstone. Under the agreement reached, LINTEC can now only be held liable up to the amount of EUR2.7 million for the surety originally issued to the amount of more than EUR10.7 million. Furthermore, LINTEC will only have to pay if the VAT notices (which are still contested) are declared final, and only if certain external funds yet to be agreed are returned.

LINTEC has always explained this situation frankly in its annual reports. Suitable provisions have accordingly been made in the accounts, amounting since 2003 to EUR2.7 million.

The appeal proceedings have been suspended for the time being since the European Court of Justice is expected to issue a decision of general principle on contested VAT proceedings in similar cases later this year. Batavia denies VAT evasion in connection with an international VAT roundabout with computer chips (CPUs). The criminal proceedings launched against Batavia´s previous CEO, Matthias Sawatzky, were abandoned in 2003, and the following year the head of Batavia´s trading department was acquitted.

As far as LINTEC is concerned, this now paves the way for acquiring the funding urgently required to develop its operating business.

All the requirements for a successful 2005 have now been met. Following the clearance of most of the company´s debt in 2004 and the breakthrough in the `chip deal´ proceedings, the company is now more attractive to the capital market. The successful positioning of the new divisions PCs & Entertainment Electronics and Production & Logistics will result in higher profitability and hence contribute to LINTEC´s turnaround in 2005.

end of announcement                                euro adhoc 22.04.2005 15:16:34

Further inquiry note: LINTEC Information Technologies AG, Investor Relations, Tel: +49 (0)34298 71607, Fax: +49 (0)34298 71372, Email:, Web:

Branche: Computing & Information Technology
ISIN:      DE0006486004
WKN:        648600
Index:    Prime Standard, 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

Weitere Meldungen: Lintec Computer AG

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