26.04.2004 – 17:19

PrimaCom AG

euro adhoc: PrimaCom AG
Annual Reports
PRIMACOM REPORTS 2003 RESULTS (E)

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

Mainz, April 26, 2004 - PrimaCom AG (OTC BB "PCAGY" and Geregelter 
Markt Frankfurt: "PRC" or ID No. "625910", www.primacom.de) today
reported its consolidated results for the year ended December 31,
2003.

For the year ended December 31, 2003, revenues increased by 8.7
percent or 15.9 million Euro to 197.9 million Euro compared to 182.0
million Euro for the year ended December 31, 2002. The primary factor
for this growth was an overall 15.2 million Euro revenue increase in
Multikabel the Company’s Netherlands subsidiary. The primary reason
for strong revenue growth in Multikabel was the 8.4 million Euro
increase in its high speed Internet service.

In 2003 operating profit increased by 36.3 million Euro to 19.4
million Euro from an operating loss of 16.9 million Euro in 2002.
Interest expense increased in 2003 by 3.7 million Euro to 113.1
million Euro compared to 109.4 million Euro in 2002 in the year 2003.
The primary factor responsible for the increase was the higher
interest rates associated with the 375.0 million Euro convertible
second secured credit facility as compared with the revolving credit
facility under which this amount was primarily due during the first
quarter of 2002.

Net loss for the year ended December 31, 2003 was 118.1 million Euro,
or 5.97 Euro per basic and diluted share, compared to a net loss of
138.3 million Euro, or 6.99 Euro per basic and diluted share for the
year ended December 31, 2002. In particular depreciation,
amortization expense and interest expense were the main contributors
to the Company’s net loss.

EBITDA increased by 27.9 Mio. Euro or 35.3 percent from 79.1 million
Euro in 2002 to 107.0 million Euro in 2003, primarily as a result of
the growth of high-speed Internet services in Multikabel and
continuing cost reduction activities. EBITDA is calculated as
follows: 19.4 million Euro operating profit plus 87.6 million Euro
depreciation and amortization.

At December 31, 2003, PrimaCom’s aggregate consolidated indebtedness
was approximately 946.4 million Euro and was comprised of
approximately 494.5 million Euro of senior bank debt, 448.1 million
Euro of convertible second secured debt, 2.9 million Euro of capital
leases obligations, and 0.8 million Euro of deferred purchase
obligations.

Despite the positive trend in our overall operating profit, the
company continues to generate significant net losses. As a result, as
of December 31, 2003, shareholders’ equity had a deficit balance of
84.9 million Euro down from a positive equity balance of 33.0 million
Euro at December 31, 2002. Due to the continued need to restructure
the company’s financial position on April 16, 2004 PrimaCom AG has
signed a financing transaction (the "Proposed Asset Sale and Purchase
Transaction") whereby it will, if successful transfer substantially
all of its assets to a special purpose vehicle, BK Breitband
Kabelnetz Holding GmbH, Hamburg.

For further information on that transaction we refer to PrimaCom’s
prior Ad hoc release dated April 16, 2004.

end of announcement        euro adhoc 26.04.2004

Further inquiry note:

PrimaCom AG
Investor Relations
T.: +49(0)6131 944 522
E-Mail: investor@primacom.de

Branche: Telecommunications Equipment
ISIN: DE0006259104
WKN: 625910
Index: CDAX, Prime All Share, Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade