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Change of Taxable base at CENIT AG Systemhaus

Ad hoc notification in line with Article § 15 Securities Trading Act

Stuttgart, November 25, 2004 – On occasion of this week’s tax audit at CENIT, tax authorities argued, against CENIT’s opinion, that losses, that resumed out of loans that were granted to foreign subsidiaries in the past years have partially to be assessed as contributions to capital and therefore have to be assigned to the earnings subject to income tax. Due to this fiscal estimation the base for the calculation of deferred tax assets could decrease from 4.71 Mill. EUR to 2.4 Mill. EUR. As a result of this new taxable base deferred tax assets could add up to 1.0 Mill. EUR.

As we are expecting a positive business development in 2004, we assume that the accumulated deficit will be totally depleted in the ongoing business year and deferred tax assets will have to be dissolved effectively. Due to this fiscal estimation CENIT has - because of its positive business development - to pay taxes on income already in 2004 and therefore earlier than expected.

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