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PANDATEL AG i.A.

euro adhoc: PANDATEL AG
Justice/Processes
Ad hoc disclosure acc. to Art. 15 WpHG Merger with Dowslake Microsystems Corp. failed due to the rejection by plaintiffs

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
16.11.2006
The district court Hamburg informed Pandatel AG that the time limit
elapsed  for accepting the settlement proposal submitted by court
and, consequently,  it  was rejected by the suing  plaintiffs.  So,
settlement  efforts  failed  and  court proceedings continue and will
end in due course.
14 shareholders filed derivative suits and actions of  nullity
against  various resolutions  of  the  extraordinary  shareholders'
meeting  of  27.03.2006.  In particular, affected are the
resolutions  on  capital  decrease  and  increase, which Pandatel AG
wanted to utilize to merge with  Dowslake  Microsystems  Corp. by
increasing its share capital against contribution in kind.
With expiration of the time limit for accepting the court  settlement
proposal, the execution of the merger with Dowslake Microsystems
before 31  December  2006 becomes very unlikely. Pandatel AG  will
continue  co-operation  with  Dowslake Microsystems Corp. on
contractual basis and look for other options.
Hanover, 16 November 2006
The Management Board
About PANDATEL PANDATEL is a German corporation based in Hanover.
PANDATEL was formed  in  1987 as Pan Dacom Telekommunikation GmbH. It
went public at Frankfurt stock  exchange in November 1999. Majority
shareholder is Dowslake Venture  Ltd.  (U.S.A.)  with Dr. Dan D. Yang
as CEO. In March 2006, Dr. Yang became also CEO of PANDATEL  AG.
PANDATEL is  specialized  in  Ethernet  technologies.  For  further
information please visit www.pandatel.com
end of announcement                               euro adhoc 16.11.2006 10:57:08

Further inquiry note:

insignis GmbH, Agency for Communication
Raik Packeiser
Berliner Allee 9 - 11
30175 Hanover, Germany
Phone: .+49 511 33 65 15 31
Fax +49 511 33 65 15 33
Email raik.packeiser@insignis.de

Branche: Telecommunications Equipment
ISIN: DE0006916307
WKN: 691630
Index: Prime All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade

Plus de actualités: PANDATEL AG i.A.
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