Value Management & Research AG

ots Ad hoc-Service: Value Managem. & Research Succesfull introduction of AdPhos AG to the Neuer Markt

The sender is solely responsible for the contents of this announcement. ----------------------------------------------------- Schwalbach (ots Ad hoc-Service) - Value Management & Research AG's (VMR) investment in Advanced Photonics Technologies AG (AdPhos), Bruckmuehl marks the sixth VMR investment that has been brought to the stock exchange this year. On July 31, 2000 AdPhos was succesfully introduced to the Neuer Markt of the Frankfurt Stock Exchange with HypoVereinsbank AG (lead manager), Commerzbank AG and VEM Virtuelles Emissionshaus AG. The shares, which were five times oversubscribed, reached a high off EUR 23.98 during their first day of trading from an issue price of EUR 20.00. AdPhos' NIR(R) -Technology is the leader in thermal processing technology. Its internationally experienced management will use the majority of the proceeds from the IPO to achieve a worldwide penetration of its NIR(R)-Technology. Not only will VMR earn approx. DM 5 milion from the IPO of AdPhos but will also hold a stake of 7.93% in AdPhos post IPO. This stake of 7.93%, at the current stock price of EUR 23.00, will contribute a further DM 23 million to VMR's reserves. VMR's relationship with AdPhos began at the beginning of 1998 when VMR became their first financial investor. The stock exchange listing of AdPhos is a further example of the succesful investment strategy that VMR has followed with high growth technology companies. For further information please contact: Albert A. Schander, Executive Director Tel.: 06196 - 88 00-130 End ----------------------------------------------------- Internet: Original-Content von: Value Management & Research AG, übermittelt durch news aktuell

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