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ots Ad hoc-Service: lebensart global networks lebensart global networks AG increases its share in ResExpress Inc. to 98%

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    Augsburg (ots Ad hoc-Service) -      

    lebensart global networks AG has purchased a further 48% of the Californian software start-up company ResExpress Inc. The purchase was made from a previous share holder with payment following partly in cash and partly in lebensart global networks AG shares. With this acquisition, the lebensart group now controls a 98% share of ResExpress Inc.

    ResExpress Inc., situated in Berkeley, 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. The most recently acquired portion of ResExpress Inc. will, in the short-term, be incorporated into lebensart technology Inc. as a contribution in kind. The lebensart global networks AG subsidiary already holds a 50.2% share of ResExpress Inc.

    lebensart technology Inc. gained a 12.2% stake in ResExpress Inc in October 1999 and has, since that time, successively increased its share.  

         contakt: 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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