29.07.2004 – 18:05

MIM MONDO IGEL MEDIA AG

euro adhoc: MIM MONDO IGEL MEDIA AG
Quarterly or Semiannual Financial Statements
MIM AG Raises Revenues 225%, EBITDA Positive Again in First Half-Year; Capital Reduction Completed (E)

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  The issuer is responsible for the content of this announcement.

MIM MONDO IGEL MEDIA AG published its results today for the first six
months of 2004. Besides increasing turnover more than threefold over
the first half of last year to EUR1 million (2003: EUR310k), the
cost-reductions implemented by the new management helped raise the
EBITDA to EUR692k at the end of the second quarter (2003: EUR-279k).

As of 28 July 2004, the capital reduction which was decided upon by
the Annual Shareholders’ Meeting on 5 April 2004 is registered with
the Hanseatische Wertpapierbörse Hamburg. The first day’s trading of
the new ISIN DE000A0BVUP8 closed with a price of EUR1.40.

"These results make it clear that MIM AG is now on the right path,"
says Riccardo Corradi, CEO of MIM AG. "Our growing importance in the
market as a German co-producer and distributor will add to our value.
We will be a viable, meaningful force in the future. Our direct and
declared goal is to attain a share of the entertainment market in
Germany for MIM. We are definitely and obviously on the right path, a
path that is clearly different from the past."

end of announcement        euro adhoc 29.07.2004

Further inquiry note:

jharris@mim.ag

Branche: Media
ISIN: DE0006228505
WKN: 622850
Index:
Börsen: Hamburger Wertpapierbörse / regulated dealing
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade