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14.12.2000 – 13:29

FORIS AG

ots Ad hoc-Service: FORIS AG FORIS: Litigation Lasting Longer

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

    Berlin (ots Ad hoc-Service) -      FORIS: Litigation Lasting Longer

    1. To date FORIS AG had assumed a positive net result. In various proceedings in each of which FORIS AG's share amounts to over DM 1 million, intensive negotiations are being conducted towards a settlement. These cases are still underway and, contrary to expectations, will no longer be concluded this year. In some proceedings, it is conceivable that decisions will be contested because FORIS and the respective contracting party are interested in obtaining higher awards. If none of the proceedings are concluded this year, a negative net result of up to DM 6.5 million can be expected.

    2. The costs essentially result from the increased personnel and advertising expenses as well as the expansion of new business fields. FORIS AG will therefore also be able to maintain its jump as market leader in the fast-growing market for litigation financing even in face of the further anticipated competition.

    3. FORIS AG will foreseeably conclude 150 new litigation financing agreements over the year as a whole and will thus be financing 210 agreements prior to year-end. Based on the increased inquiries in the last two quarters, FORIS anticipates concluding at least 200 new agreements for the coming year.

    4. FORIS AG has undertaken a new analysis of the litigation financing portfolio based on its now two-and-a-half years of business activity. The original estimates made at the outset of the new litigation financing business were based exclusively on information from the Federal Statistics Office. These assumptions have proven to be largely irrelevant in practice. Based on a highly conservative assessment, FORIS AG's own experience suggests gross profit of at least DM 13 million from the current contract portfolio.

    5. FORIS AG already attained turnover of more than DM 35 million as of 30 November 2000, which corresponds to an increase of approx. 800% in relation to 1999 as a whole. FORIS will earn gross profit of approx. DM 2.5 million from the sale of foreseeably 500 shelf companies before year-end.

    6. For the coming year. FORIS AG estimates a positive net result.

    FORIS AG, Matterhornstr. 44, 14129 Berlin, phone: (+49 30) 8048-640, fax: (+49 30) 8048-6424, e-mail: berlin@foris.de, Internet: www.foris.de

    End of Message

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Original-Content von: FORIS AG, übermittelt durch news aktuell

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