tecis Finanzdienstleistungen AG

ots Ad hoc-Service: tecis Holding AG tecis Holding AG Interim report as of 30.9.2000: Earnings better than expected

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    Hamburg (ots Ad hoc-Service) - In the first nine months of 2000, tecis Holding AG has been able to increase its result even more than was apparent from the quarterly figures that were tentatively announced on 2nd October 2000. It has emerged from the interim report on 30th September 2000 just published that commission sales increased by 42 percent to 80.7 million DM (41.3 million Euro). The commission result, 30.6 million DM (15.6 million Euro), was 35 percent over the result of the same period last year. Profit increased even more: the profit from ordinary operations of 9.2 million DM (4.7 million Euro) rose by 61 percent over the comparable period. The Group net income for the year amounts to 4.9 million DM (2.5 million Euro) and increased by 63 percent over the comparable 1999 surplus (3.0 million DM / 1.5 million Euro).

    The main sales carrier of the tecis Group is tecis Finanzdienstleistungen AG. In the periodical comparison of the commission sales of this subsidiary, which increased by 22 percent to 53.8 million DM (27.5 million Euro), a basic effect from business in September 1999 has to be taken into account as well. At that time, sales from arranging funds-related life insurance had risen strongly. This trend, which also characterises the fourth quarter 1999, was triggered by government plans, which were later cancelled, to tax life insurances from 2000 onwards. "Without this basis effect", the interim report goes on, "the rise in sales from regular operations would have been far higher."

    Additionally, the interim report highlights the fast growth of the agency network of tecis Finanzdienstleistungen AG and a rise in commission sales of tecis Maklerservice AG by 130 percent.

    In the outlook for the entire year 2000, tecis reckons with a "continuing positive course of business" and an annual surplus of 7.5 million DM (3.8 million Euro), which, as expected, will exceed the 1999 surplus by 23 percent.

    As a result of the decision to reduce disablement benefit performance, the foreseeable reform of the legal retirement arrangement as well as the continued rise in paid-off life insurance and bequeathed wealth, tecis sees a growing need for consultancy. The tecis Group, with its core financial planning competence in share funds and funds-related financial products, is well positioned for this.

    The complete interim report can be retrieved in German and English from on Friday, 1st December 2000 onwards from the Internet site www.tecis.de.

    Contact for questions: tecis Holding AG Unternehmenskommunikation Leander L. Hollweg Tel.: +49 (0)40 / 696951 -287 Fax: +49 (0) 40 / 696951 -288 Email: l_hollweg@tecis.de

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