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caatoosee forges ahead with the 'focus' restructuring programme (E)

Leonberg (ots-euro adhoc) -

Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
[13.11.2001 - 12:30]
Focusing on the core business units of information logistics and
enterprise solutions, caatoosee ag will complete the last phase of
the Group's restructuring measures, initiated as part of its 'focus'
programme, by the end of the year. The programme, which was
introduced in the first quarter of the current financial year, is
aimed at achieving a substantial improvement within the area of
profitability. The action plan also stipulates a concentration of the
Group's activities. The main emphasis is on bringing about savings
throughout the Group and bolstering the current liquidity base. As
part of the implementation of the 'focus' programme and in accordance
with the decision agreed upon by the Supervisory Board, subsidiaries
will be fully integrated into the caatoosee ag. This will allow the
company to position the caatoosee brand for information logistics
more effectively and utilise the full potential of the synergy
created through its equity investments.
caatoosee ag and PT Sigma Cipta Caraka, a company in which caatoosee
holds a majority stake, have decided by mutual consent that the
Leonberg-based company shall retransfer its shares to Indonesia's PT
Sigma. caatoosee ag has thus re-emphasized its decision to focus on
Europe as its core market. As a result of the return of stock,
caatoosee ag will benefit from a cash inflow in the double-digit
million range. Despite the reversal of its majority shareholding in
the Sigma Group, caatoosee will maintain its business relationship
with Sigma, an Indonesian specialist within the field of IT
outsourcing. The company plans to use, on a project-by-project basis,
the development resources available to the Sigma Group, while also
establishing a long-term business cooperation within the area of
sales and distribution.
Due to a lower revenue base, the gross margin of the caatoosee Group
will show strong signs of improvement. Profitability is to take
precedence over revenue, seeing as the latter will not necessarily
guarantee viable long-term growth. caatoosee remains committed to
achieving EBITDA break-even on a quarterly basis in 2002.
The Management Board

Further inquiry note:

caatoosee ag, Stefan Ahrens,
ph. + 49 (0) 7152 / 355-6000,
e-mail stefan.ahrens@caatoosee.com

Ahrens & Behrent, Financial Dynamics GmbH, Dr. Lutz Golsch,
ph. +49 (0) 069 / 92037-110,
email l.golsch@a-b.de