11 88 0 Solutions AG

ots Ad hoc-Service: Telegate AG telegate AG announces Intention of taking over a US information service:

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    Munich (ots Ad hoc-Service) -      

    First strategic step towards gaining a foothold in the American market

    The Munich based telegate AG has signed a letter of intent (LOI) about acquiring one of America's leading information providers. "With this move, we have taken the first important strategic step towards gaining a foothold in the US market", says Dr. Klaus Harisch, CEO of telegate AG.

    This takeover will give telegate access to important management expertise and enable the company to position itself in the USA as a competent service provider. Parallel to this, telegate is setting up own call centres in the United States. The American market for information services is considered to be one of the leading growth markets in this sector.

    The Munich-based telegate company was founded in 1996 and has been listed on the New Market of Frankfurt Stock Exchange since April 1999. Last year, the company recorded total revenues in excess of DM 173.5 million. The range of services offered includes numerous facilities, such as directory inquiries for the fixed- line network and all German mobile-telephone networks, call forwarding to around 4,500 service hotlines and telephone and address inquiries by post and fax. 11880.com, the telegate subsidiary founded in January 2000, provides an online directory service. Additional internet services are being planned, telegate AG employs approximately 2,500 people.

    Financial information:

    telegate AG Wolfgang Brand Fraunhofer Str. 20 D-82152 Munich-Martinsried Tel.: +49 89 8954-1120 Fax: +49 89 8954-1810 E-mail: wb@telegate.de

    Press information:

    Hoschke & Consorten Anja Meyer, Andreas Hoschke Deichstrasse 29 D-20459 Hamburg Tel.: +49 40 361146 Fax: +49 40 361144 E-mail: a.meyer@hoschke.de

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