Design Hotels AG

ots Ad hoc-Service: lebensart global networks lebensart global networks AG showing faster growth than expected

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    Ausgburg (ots Ad hoc-Service) - The turnover of the first company to be admitted to the Prädikatsmarkt Select in Munich, for the first half of 2000, has amounted to DM 9.62m. This reflects an increase of some 470% compared to the turnover in the same period of the previous year, of DM 1.69m. The capital increase carried out on 3rd May, 2000 has made available the capital necessary for a number of significant investments to be actioned. In the first half of 2000, DM 13.27m was reinvested into the company itself; the largest amount going to fund strategically important participation in the commercial field of Business to Business. The increased acquisition of stock of the American technology start-up ResExpress Inc., from a previous 30% to 50.2% ( 98% as of August 2000), also fell under this heading.

    Along side this, the technical and human resources areas have also been strengthened. Thanks to an attractive employee participation program, lebensart has been able to gain the necessary resources for this growth: as of 30th June, 2000 the total number of worldwide employees was 110, in contrast to 35, on 31st December, 1999.

    The extraordinary costs of the capital increase and the above investments lead to a loss of DM 7.83m, for the first half of 2000. The extraordinary costs of the capital increase of May 2000 amounted to DM 3.39m alone. The results from regular business activity were DM -5.96, compared to DM -0.92m in the relevant period of the previous year. Included already within this are DM 1.25m technology development costs, DM 1.43m expenditure on the employee participation program and DM 0.6m in write offs. The DVFA/SG result per share amounts to DM - 0.88 or EURO -0.45. According to the assessment of the Board of Directors, the company will reach its planned turnover for 2000, of DM 27m (compared to DM 6m in 1999). The company should break even towards the end of the second quarter, 2001.

    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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