NorCom Information Technology AG

ots Ad hoc-Service: NorCom Info.Techn. NorCom implementing acquisition plans
Acquiring a stake in Value & Risk Engineering New products planned

The sender is solely responsible for the contents of this announcement. ----------------------------------------------------- Munich (ots Ad hoc-Service) - As part of plans to become the leading European e-security company in Europe, NorCom Information Technology AG has acquired a 51% share in Value & Risk Engineering AG (V&R). This marks the Munich-based company's first acquisition since its IPO last October. With superb references in the European financial-services and insurance sector, consulting company V&R is an excellent match for NorCom's corporate and growth strategy. Domiciled in Bad Homburg, Germany and posting revenues of roughly EUR 2 million in 1999, the company was established in 1996 as a spin-off from a risk management team of a leading German bank. The synergistic benefits from linking market-leading NorCom technologies and high-level consulting services are to be harnessed to tap new product potential. Here, NorCom's middleware and security technology is to be used as a basis for creating new software solutions for the financial services sector. Highly profitable With its first acquisition, NorCom has gained a very successful and highly profitable company, which has been operating in the black since 1997. In the past three years, V&R's EBT margin has risen from 10% to 20%. NorCom will be paying the vast majority of the purchase price with its own stock. By acquiring a majority stake in V&R, NorCom is not only gaining this company's excellent skills but also a series of renowned customers in the core financial services target group. Personnel matters There have been changes to NorCom Information Technology AG's supervisory board. Dr. Horst-Peter Schulz and Ulrich Bräunig have left the supervisory board as scheduled. Their successors are Leonhard H. Fischer, a member of the management board of Dresdner Bank AG and chairman of the management board of Dresdner Kleinwort Benson, and Manfred Schlottke, formerly a member of the management board of R+V Versicherung Holding. Pending re-elections, Carl-Friedrich Meißner, formerly a member of the board of Deutsche Telekom AG, will be chairman of NorCom Information Technology AG's supervisory board. For further information please contact: NorCom Information Technology AG Bettina Kraus - press Stefan-George-Ring 6 D-81929 München Fon +49-89-939 48 140 Fax +49-89-939 48 123 End ----------------------------------------------------- Internet: Original-Content von: NorCom Information Technology AG, übermittelt durch news aktuell

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