24.10.2003 – 10:17

ESCADA AG

euro adhoc: ESCADA AG
Restructuring & Recapitalisations
ESCADA capital measures raise more than EUR 90 million (E)

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

Aschheim/Munich, October 24, 2003 - The market has responded with
great demand to ESCADA AG’s convertible bond issue and its new stock
offering under a capital increase. The gross proceeds for the company
will amount to EUR 90.7 million, well above all expectations. The
capital increase, for up to 7.08 million new shares of common stock
at EUR 10 per share, was fully subscribed and thus generated EUR 70.8
million. This will mean a EUR 36.3 million increase in ESCADA AG’s
stock capitalization, from EUR 39.6 million to EUR 75.9 million. The
company received the remaining EUR 19.9 million from a convertible
bond issue at a par value of EUR 10 per participation certificate. On
conversion, these bonds carry rights to 1.99 million new shares of
ESCADA.
As planned, US private equity company HMD Partners invested a total
of EUR 45 million in ESCADA by subscribing for part of the new stock
and bonds. The remaining EUR 45.7 million came from existing ESCADA
shareholders.

end of announcement        euro adhoc 24.10.2003

Further inquiry note:

Viona Brandt
Tel.: +49 (0)89 9944 1336
E-Mail: viona.brandt@de.escada.com

Branche: Clothing
ISIN: DE0005692107
WKN: 569210
Index: CDAX, Classic All Share, Prime All Share, Prime Standard, SDAX
Börsen: Berliner Wertpapierbörse / official dealing
Bayerische Börse / official dealing
Frankfurter Wertpapierbörse / official dealing
Bremer Wertpapierbörse (BWB) / regulated dealing
Hamburger Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade