18.02.2002 – 09:37

ABIT AG

euro adhoc: ABIT AG
Quarterly or Semiannual Financial Statements
ABIT’s fourth quarter performance produces a positive operating result for the first time since its IPO (E)

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

- ABIT fulfils forecasts 
- Concluding balance sheet corrective measures in the form of
extraordinary depreciation as at year-end 2001 
- Management Board member Volker Neuwirth to move to ABIT USA

ABIT AG, software and services provider for the debt management
sector, achieved a positive preliminary EBITDA result of 0.5 million
Euro in the fourth quarter of 2001. With this first positive
quarterly operating result since the company’s IPO, the constant
upward trend of the previous five quarters has been continued. Due to
the positive development during the fourth quarter, a positive EBITDA
will also be reported for the second sixth months of 2001 as a whole.
ABIT has thus fulfilled the forecast made at the annual shareholders’
meeting in May 2001. The total operating performance for the fourth
quarter at an estimated level of 6 million Euro represents the best
quarterly result for 2001; The total operating performance for 2001
amounts to approximately 20 million Euro. The net operating result
for the fourth quarter is expected to be less than minus 0.5 million
Euro.

In future, the positive operating performance will be reflected in
the net result even more clearly and without distorting effects. With
this aim in mind, the annual results for 2001 are to include a final
corrective adjustment to the balance sheet in the form of one-off
special measures in the amount of approximately 7 million Euro. The
one-off effects in the balance sheet and the accounts do not affect
the operating result and the stable liquidity situation.

The company will provide its comments on the full annual results in
its balance sheet press conference and a subsequent analysts’ meeting
in Düsseldorf on 21. March 2002.

ABIT achieved a significant proportion of the total operating
performance (35 per cent) and a positive operating result for the
year as a whole in the US market in 2001. Against the background of
this positive trend and in order to strengthen further the company’s
involvement in this market, one of ABIT’s founding partners, Mr
Volker Neuwirth (whose responsibilities to date have included the
ABIT group’s international business), will be leaving the Management
Board of ABIT AG with effect from 30. June 2002 to take over the
management of the American operations locally as Chief Executive
Officer of ABIT USA, Ogden/Utah. By bringing together and
rationalizing its US sales operations under the aegis of ABIT USA,
ABIT is aiming for above-average sales growth of 30 per cent in this
market for the current year, whilst achieving clear positive results.

The departure of Mr Volker Neuwirth will leave the current Speaker of
the Management Board, Mr Jürgen Baltes, as the sole Board Member and
Managing Director of ABIT AG. Mr Volker Neuwirth remains an investor
in ABIT AG with an unchanged share of the share capital.

end of announcement        euro adhoc 18.02.2002

Further inquiry note:

Frau Brigitte Gray, Tel. 02150-9153-200