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ots Ad hoc-Service: lebensart global networks

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    Augsburg (ots Ad hoc-Service) -

    lebensart global networks AG signs letter of intent, increasing its share of ResExpress Inc. to 98%

    lebensart global networks AG has signed a binding letter of intent committing it to the purchase of a further 48% stake in the Californian software start-up company ResExpress Inc. Ratification of the contracts will follow shortly. The parties have negotiated a private deal on the purchase price; payment will be partly in cash and partly in lebensart global networks AG shares. With this acquisition, the lebensart group will control a 98% share in ResExpress Inc.

    ResExpress Inc., situated in Berkley, California, is producer of the web-based availability management system web.CRS, which facilitates the real-time management of any type of limited availability situation (e.g. hotel rooms).The system is already in use in around 220 lebensart brand member properties and is also used by an approximate 800 web.CRS customers of lebensart technology Inc., a 100% subsidiary of lebensart global networks AG.

    In October 1999, lebensart technology Inc., Sausalito, California, acquired a 12.2% stake in ResExpress Inc. Following the holding company's successful entry onto the Stock Exchange in December 1999, this stake was increased to 30%, and in March 2000 to 50.2%. The latest 48% to be purchased by lebensart global networks AG will also be incorporated into lebensart technology Inc.

    Kontakt / Contact: lebensart global networks AG - Department Investor Relations - Daniel E. Adams, CFO Stefanie Nützel, Director Investor Relations Konrad-Adenauer-Allee 35 D - 86150 Augsburg

    Tel. +49 - 821 - 345 45 50 Fax +49 - 821 - 345 45 59

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