euro adhoc: AG
Mergers - Acquisitions - Takeovers / AG ad-hoc release pursuant to § 15 WpHG - freenet and mobilcom reach agreement on range of value ratio

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06.06.2005 AG / Hamburg — The Executive Boards of mobilcom and freenet today reached a mutual agreement on the range of possible value ratios in the planned amalgamation of mobilcom AG and AG into a new company.

The two companies expect that the exchange ratio specified in the amalgamation contract, which will be defined in shares of the new company, will be calculated according to the following relation: One freenet share will most likely correspond to between 1.14 and 1.19 mobilcom shares.

This spread was calculated based on the companies’ current valuations, as drawn up by mobilcom and freenet with the assistance of the auditors KPMG and Ernst & Young.

As things stand now, an agreement on the final exchange ratio is expected by early July.

Notes on the Ad hoc release

Legal advisory

Determining the values of the two companies is a complex process: It cannot be comprehended by analyzing the individual steps involved in the process, nor can it be described in comprehensive detail in a summary. The valuation work done to date by the Executive Boards of the companies involved assisted by KPMG and Ernst & Young, does not provide a reliable indication of future performance. Nor do the statements about the calculated profitability purport to make forecasts or assumptions about the future development of the mobilcom AG or AG share prices. Also, further developments and final valuations may result in differing results, which may be considerably above or below the figures published in this announcement. Likewise, there is the possibility that no value ratio within the range announced today is considered "appropriate" under applicable German law by the court-appointed independent merger auditor.  The fixing of a final exchange ratio is subject to approval by the court-appointed independent merger auditor and the respective supervisory board(s).

end of announcement                                euro adhoc 06.06.2005 20:32:46

Further inquiry note: AG Investor Relations Andreas Neumann Tel.: +49 (0)40 51306 778 E-Mail:

Branche: Online
ISIN:      DE0005792006
WKN:        579200
Index:    TecDAX, Prime Standard, CDAX, Prime All Share, HDAX, Technologie All Share, Midcap Market Index
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

Weitere Meldungen: AG

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