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CENIT gains a foothold in the North American market

Acquisition of L&H Consultants successfully completed

Stuttgart, May 23rd 2000. CENIT AG has successfully completed the deal to acquire one hundred per cent of L&H Consultants Inc., Montreal, Canada. By putting its signature to the take-over contract, this Neue Markt-listed company gains access to the world’s most important IT market, thus strengthening its market position as a global player. The take-over will generate a number of major synergies. With branches in Montreal, Toronto, Charlotte, Detroit and Mexico City, CENIT will be in the position to support its customers comprehensively in North America. Furthermore, all enterprises in the CENIT group will benefit from the know-how lead in North America. This applies in particular to the development and application of web technologies.

With a staff of about 150, L&H Consultants Inc. will make about EUR 16 million in fiscal 2000. The company’s international clientele includes famous names like Boeing, Bombardier, DaimlerChrysler, Honda, Ferrari and Hyundai.

After Desktop Engineering Ltd. in England and Spring Technologies S.A. in France, this is CENIT’s third acquisition since the beginning of the year. A consolidated plan showing the consequences of these take-overs will be presented by the board of management by mid-year.


With its over 600 employees, CENIT AG Systemhaus, Stuttgart, a company listed on the Neuer Markt Frankfurt am Main, is an internationally operating service provider for information technology. By concentrating on Internet technologies, this systems provider with business activities in e-business, CAD/CAM Solutions and IT Services, offers its customers tailor-made solutions from one source. In 1999, CENIT AG Systemhaus made sales of c. EUR 79.5m. In addition to its branches all over Germany, the company has subsidiaries in Manchester and Oxford, U.K., in Frauenfeld near Zurich, Switzerland, and Spring Technologies S.A. near Paris, France.

Please contact:

CENIT AG Systemhaus
Prime Standard Listing - ISIN DE0005407100

Fabian Rau
Vice President Investor Relations & Marketing
Industriestraße 52-54, D-70565 Stuttgart
Tel.: +49 711 7825-3185
Fax: +49 711 782544-4185
E-Mail: info@cenit.de