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  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
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21.02.2011

Rödental, February 21, 2011 - The Management Board of Zapf Creation AG (ISIN DE0007806002) and the Supervisory Board resolved today to prepare for the switch from the Prime Standard market segment (regulated market) to the Entry Standard market segment (over-the-counter market) on the Frankfurt Stock Exchange or m:access (over-the-counter market) on the Munich Stock Exchange and to propose to the shareholders in the next General Shareholders´ Meeting to authorize management to take the appropriate steps.

end of announcement                               euro adhoc
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Contact:

Claudia Dorst
Telefon: +49(0)9563/725-1513
E-Mail: claudia.dorst@zapf-creation.de

Branche: Consumer Goods
ISIN: DE0007806002
WKN: 780600
Index: MDAX, CDAX, Classic All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade