BEKO Holding AG

ots Ad hoc-Service: BEKO Holding AG Planned fusion between BEKO and YLine

Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. ---------------------------------------------------------

    Vienna (ots Ad hoc-Service) -      

    The company YLine Internet Business Services AG, Vienna (ISIN No. AT0000779301) listed on the Brussels EASDAQ exchange, has signed a Letter of Intent with the most important block shareholders of the company BEKO-Holdings AG (WKN 920503), which is listed on the German Neue Markt. In this Letter of Intent it is agreed that the 76.66% of BEKO nominal capital held by the block shareholders is to be taken over by YLine and YLine shall issue new shares in exchange for these.

    The Management Board of BEKO is in favour of this merger with YLine because a pooling of these two companies competences is enormously synergistic and will enable the merged enterprise to take a leading role as the New Economy Service Provider in Europe.

    YLines participation is to be effected by an exchange of shares in the process of a capital increase to be carried out by Yline, in the course of which the block shareholders shall receive 0.1602 new YLine shares for every 1 BEKO share. Based on the closing price of EUR 145 for Yline on 12 September 2000 the BEKO share is valued at EUR 23.2. This is a premium of 12.6% on the closing price of BEKO on 12 September 2000.

    YLine is planning a listing on the Neue Markt and, in this transaction, is to be bound by the stipulations of the German Acquisition Code.

    BEKO has been listed on the Neue Markt since June 1999 and is, together with its daughter company BEKO Ing. P. Kotauczek GmbH, Austrias largest independent IT company and a leading provider of total solutions in the area of IT consulting. Further strategic business sectors are engineering (CAD/CAM) and Internet platforms. September 2000 saw the Internet launch of the B2B platform OFFERT.COM, in which BEKO has a 55% interest and for which it delivered the technology.

    YLine has been listed on the Brussels Growth Exchange EASDAQ since November 1999. This young enterprise operates as an E-Commerce Application Service Provider and is a market leader in the conception, implementation and operation of Internet platforms in the financial services and trading sectors. YLine is the leading IBM partner in Europe in the field of business-to-business platforms. YLines clients and partners include the companies Allianz Versicherung, Basler Versicherung, Metro AG and Cap Gemini.


    BEKO Holding AG     Dr. Max Höfferer     Tel: +43 1 79750-244 Fax: +43 179750-8004     e-mail:     internet:

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