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CENIT now definitely sells her French subsidiary

The contract has been signed

Stuttgart, April 29, 2003 – The CENIT AG Systemhaus has sold her French subsidiary Spring Technologies S.A. to the current Board of Management in the course of a management buyout. About the amount silence was maintained. Spring Technologies will not be consolidated in the group results for the current fiscal year. Consequently CENIT will focus in the future on her activities in Switzerland, North America and above all in Germany which contributes more than 95 % to the total Cenit Group’s revenue.

The separation from Spring Technologies was a necessary step in CENIT’s consistent restructuring- and cost reduction program, that has already led to a considerable improve of the company’s results.

The sale of the subsidiary in France is combined with a distribution contract that guarantees future sales of CENIT services and products in France

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