(Ad hoc press release)
Berlin, 16 June 2004. The Executive Board of Eckert & Ziegler AG has decided to deconsolidate its holding company NEMOD Biotherapeutics GmbH & Co. KG as of 31 December 2004, and signed the corresponding termination agreement with the immunology specialists from Buch. The agreement stipulates that in return for taking over restructuring costs of 0.3 million EUR, Eckert & Ziegler will be relieved of the obligation to continue financing clinical tests and that NEMOD will take care of realizing development results, the rights to which will continue to belong to Eckert & Ziegler.
With NEMOD leaving the Group's consolidation program, Eckert & Ziegler will accrue deconsolidation proceeds of 1.3 million EUR. The Board will apply part of these proceeds to the restructuring costs, and another part to start-up costs for further planned acquisitions to strengthen the core business of medical technology. The remaining amount will raise the 2004 surplus from the previously anticipated level of 0.40 EUR/share to approximately 0.60 EUR/share.
The Board of Directors