Value Management & Research AG

ots Ad hoc-Service: Value Managem. & Research Value Management & Research Group revises projected FY 2000 Earnings and approves Share Buyback Program

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 Group revises projected FY 2000 Earnings and approves Share Buyback Program In view of the deteriorated environment for technology and young growth companies, the management of VMR AG has decided to take write-downs on its participations portfolio for FY 2000 totalling EUR 22 Mio. Following these writedowns, the company estimates FY 2000 earnings of ca. EUR 1 per share. Should the present poor market conditions persist, it cannot be excluded that VMR will earn less in FY 2001 than originally estimated. Despite the writedowns, VMR still has a solid balance sheet and good liquidity. The group owns listed securities totalling approximately EUR 50 Mio. at present market prices. In addition, the group's net cash totals ca. EUR 15 Mio. (net of bank and tax liabilities). These two asset groups alone (listed securities and net cash) represent over EUR 8 per VMR share. Following approval by the Supervisory Board (Board of Directors), the Management Board of VMR has decided to implement the share buy-back program which was approved by the last shareholders general assembly in June of this year. The Management Board In case you should have any questions, please contact: Peter Riedel (CFO) 06196-88 00-234 WKN 760550 *Stock Code VMR* BloombergVMR GR* Reuters VMRG.F* Geregelter Markt/FWB* number of issued shares: 7.843.329 End ----------------------------------------------------- Internet: http://recherche.newsaktuell.de Original-Content von: Value Management & Research AG, übermittelt durch news aktuell

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