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euro adhoc: PrimaCom AG
PrimaCom AG filed a law suit against the holders of the "second secured loan".

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Today the PrimaCom AG and the company`s subsidiary PrimaCom
Management GmbH filed a law suit at the District Court Mainz against
the holders of the "second secured loan". The second secured loan
amounts to EUR 375.000.000. The law suit (AZ 10HKO 112/04) should
determine whether PrimaCom AG and PrimaCom Management GmbH is
obligated to pay the interest of the second secured loan or rather
that the second secured holder should currently not be able to
enforce possible existing interest claims.
The law suit is based on expert opinions obtained from the renowned
accounting partnership (Wirtschaftsprüfersozietät) LKC Kemper Czarske
v. Gronau Berz - functioning as special examiner - as well as from
Prof. Dr. Armbrüster on usurious credit and additionally on an expert
opinion from a renowned insolvency office - that the second secured
loan has an equity character. 
This implies that no interest would have to be paid over the entire
term and that interest  already paid should be refunded to the
company. Furthermore due to the  equity character of the second
secured loans, it is not possible under the German law to continue to
make interest payments as long as, and until a solution to the
financial crisis is found.
PrimaCom AG
Management Board
end of announcement                    euro adhoc 09.12.2004 16:23:54 

Further inquiry note:

PrimaCom AG
Investor Relations
T.: +49(0)6131 944 522
E-Mail: investor@primacom.de

Branche: Telecommunications Equipment
ISIN: DE0006259104
WKN: 625910
Index: General Standard, CDAX, 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
Bremer Wertpapierbörse (BWB) / free trade

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