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12.02.2004

CENIT`s results of the financial year 2003

The Executive Board of CENIT is optimistic about the financial year 2004

Ad Hoc Announcement in accordance with §15 WpHG

Stuttgart, February 12, 2004 – The preliminary unaudited results of CENIT AG Systemhaus exceed its expectations and allow to look back at a successful financial year. Group sales amounted to EUR 70.5 million (2002: EUR 94 million/- 25 %). The drop in sales resulted on the one hand from the separation of the French subsidiary. On the other hand concentration on the consulting business led to a drop in sales of hardware. The CENIT Group achieved an EBITDA of EUR 3.2 million (2002: EUR 2.3 million/39 %) and an EBIT of EUR 2.2 million (2002: EUR -5.4 million/140 %). Thus the positive business development was sustainably confirmed.

CENIT Germany, which contributed the greatest part of sales and results with about 98%, reached sales of EUR 68.8 million in the period under consideration (2002: EUR 75.8 million /-9%). The EBITDA in Germany amounted to EUR 2.9 million (2002: EUR 2.1 million/+38%). The EBIT of the German company totaled EUR 2 million (2002: EUR - 8.6 million/+123%) and was substantially improved in comparison to the prior year.
All short-term liabilities to our commercial banks were paid. Cash and cash equivalents amounted to EUR 6.6 million as of December 31, 2003 (2002: EUR 1.9 million/+247%).

The Executive Board is convinced that CENIT will continue the positive development in 2004.

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