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IBt Seeks Rescission of Core Oncology Option Contract

Berlin, January 24, 2011 - IBt S.A., the central affiliate and lead company for radiotherapy activities of Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700), filed a lawsuit at the Federal District Court in Seattle, Washington, against Core Oncology, Inc. for a rescission of the so-called Core Oncology Option Deal. On the basis of these agreements, the Belgium-based IBt in November 2009 had acquired, among other things, a take-over option for its American competitor and further had made available to this company a short-term loan in the amount of USD 2 million.

In the following period it turned out that the balance sheets for 2008 and 2009, which Core Oncology had presented before the loan was granted, had to be considerably revised. In their rectified versions they contained much weaker performance figures than originally claimed. Since Core Oncology later also tried to materially modify the loan agreement with IBt through a series of questionable contract amendments, IBt in its lawsuit asserts fraud and deception. It added two Core Oncology directors to the list of defendants.

With regards to the loan, which is still outstanding, Eckert & Ziegler took a reserve against the 2010 results in the amount of EUR 1.4 million. Eckert & Ziegler's profit forecast for 2010, at least EUR 1.80 EUR annual net profit per share, remains unaffected by the provision.