Pankl Racing Systems AG

Disclosure announcement after § 15 WpHG
Pankl Racing Systems AG / Mergers - Acquisitions - Takeovers
New Shareholder Structure at Pankl Racing Systems

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

Bruck/Mur, 15/10/2004. The N.Y.S.E. Trust, which is associated with Gerold Pankl, the founder of the Pankl Group, announced, that it reduced its stake in Pankl Racing Systems AG (PARS AG) from 24% to less than 1%. RCB placed these shares with institutional investors.

Gerold Pankl withdrew from operating management of the company already two years ago. Since then he was responsible for the California-based US aerospace business of Pankl Aerospace Systems Inc., which he restructured and led back into profits. Gerold Pankl will continue to be Chairman of Pankl Aerospace Systems Inc. and will remain a supervisory board member of PARS AG.

In the past two years, organisational structures of the Pankl Group were enhanced to deal with the growing size and internationalisation of the business. Today, a 12-person strong management team under CEO Ernst Wustinger and the new CFO Wolfgang Plasser manages the two business divisions of the group, R&D and systems provision in the motor racing and aviation industries. From 2002, management resources in technical areas were increased by 60%.

Qino Asset Management & Advisory AG (Qino-Group) has informed the company, that it acquired a stake of more than 10% in PARS AG.

The EOS-GEW Trust and the GALE Trust – both trusts are associated with management of the company - completed a long-term syndication agreement with Qino-Group comprising a total of 1.4m shares (equals 36.01% of the issued share capital). Qino Asset Management & Advisory AG contributed 700,000 shares and the two abovementioned trusts contributed 350,000 shares each. This measure is aimed to secure the group’s independence and continued long term growth. Furthermore it will increase free-float and hence enhance liquidity of the shares traded on the Frankfurt Stock Exchange.

On 15/10/2004, the shareholder structure of the company is as follows:

The Syndicate: 36.01% of which: Qino-Group 18.00%   EOS-GEW and GALE Trusts 18.00%

AvW-Invest:              17.00%
Treasury shares:        1.62%
Free-float:              45.37%

end of announcement                                euro adhoc 15.10.2004 17:04:23
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Further inquiry note: Heidrun Sölkner Head of Investor Relations & Corporate Communications Tel.: 0043 3862 33 999 114 mail: ir@pankl.co.at Internet: www.pankl.com; IR-Portal: www.pankl-ir.com

Branche: Technology
ISIN:      AT0000800800
WKN:        914732
Index:    Prime Standard
Börsen:  Frankfurter Wertpapierbörse / official dealing
              Nasdaq Europe / official dealing



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