27.05.2003 – 22:39

PrimaCom AG

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

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

Mainz, May 28th, 2003 - PrimaCom AG (OTC BB "PCAGY" and Neuer Markt
Frankfurt: "PRC" or ID No. "625910", www.primacom.de) today reported
its consolidated results for the first quarter of 2003.

The number of revenue generating units increased by 22,386 from
1,352,895 at March 31, 2002 to 1,375,281 at March 31, 2003. The
primary factor responsible for the growth was the increase in
high-speed internet access subscribers, which reached 60,975, a 56.0
percent increase from the first quarter of 2002 and a 13.9 percent
increase over the fourth quarter of 2002.

Revenues rose by 9.2 percent to 47.9 million Euro (Q1/02 43.9 million
Euro).

The upward trend in PrimaCom’s revenues and operating results that
started in 2001 has continued through the first three months of this
year, with EBITDA rising by 21.9 percent to 22.8 million Euro (Q1/02
18.7 million Euro).

The strong EBITDA-performance is underlined by the company showing an
operating profit of 2.7 million in the first quarter of 2003 after
still showing an operating loss of 1,0 million Euro in the first
quarter of 2002. This improved operating result reflects continuing
costs control measures combined with increasing revenues.

Interest expense however increased by 14.2 million Euro from 14.3
million Euro in the first quarter of 2002 to 28.5 million Euro in the
first quarter of 2003. This was due to the company’s debt refinancing
in 2002 and was primarily responsible for the increase in the
company’s net loss.

Net loss for the first quarter of 2003 was 23.2 million Euro, or 1.17
Euro per basic and diluted share, versus a net loss of 12.9 million
Euro, or 0.65 Euro per basic and diluted share for the first quarter
of 2002.

At March 31, 2003, the company’s aggregate consolidated indebtedness
was 926.8 million Euro comprised of 921.8 million Euro of bank debt,
4.6 million Euro of capital leases obligations, and 0.5 million Euro
of deferred purchase obligations.

PrimaCom will report more details of its first quarter results in a
comprehensive press release today.

In conjunction with this release, PrimaCom will host a conference
call, which will be simultaneously broadcast live over the Internet.
Management will host the call, which is scheduled for May 28th, 2003,
at 5:00 PM Frankfurt; 4:00 PM London; 11:00 AM New York.

end of announcement        euro adhoc 27.05.2003

Further inquiry note:

Alexander M. Hoffmann

Branche: Telecommunications Equipment
ISIN: DE0006259104
WKN: 625910
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