Value Management & Research AG

ots Ad hoc-Service: Value Managem. & Research Value Management & Research AG and DIRECTA SIM contract a joint venture for the establishment of an online brokerage company in Germany

Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. ----------------------------------------------------- Schwalbach (ots Ad hoc-Service) -Value Management & Research AG and Directa SIM have signed a joint venture agreement for the establishment of an online brokerage company in Germany Directa SIM with its headquarters in Turin was founded in 1995 and was the first online broker in Italy. With a transaction volume of EUR 13 billion and 1.55 million transactions in the first half-year of 2000, the company is the sixth largest European online broker, by number of executions, according to a report by J.P. Morgan. Directa SIM will hold majority controlling interests in the new company, with its headquarters in Germany. This company is to combine the already well-tested Directa online technology with the expertise in the sector and the large number of customers of VMR AG and VEM Virtuelles Emissionshaus AG. With the help of the joint venture and the superior technology from Directa SIM, a faster move onto the expanding online broker market will be possible for VMR AG and VEM Virtuelles Emissionshaus AG. Furthermore, with the joint venture, VMR and VEM are strengthening the channel of distribution for its product portfolio. The Board of Management For any further questions, please contact: Patricia Köhler. IR 06196 / 88 00-444 Mario Fabbri +39 / 011-53 01 01 WKN 760550 *Börsenkürzel VMR* BloombergVMR GR* Reuters VMRG.F* Geregelter Markt/FWB End ----------------------------------------------------- Internet: http://recherche.newsaktuell.de Original-Content von: Value Management & Research AG, übermittelt durch news aktuell

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