Eurobike AG
Ad hoc-Service: Eurobike AG

Ad-hoc announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. —————————————————————————— AD-HOC RELEASE 09.02.2001 EUROBIKE AG: Results of fiscal 1999/2000 in line with expectations Successful start into fiscal 2000/2001 Düsseldorf, February 12, 2001. In fiscal year 1999/2000 (September, 30), Düsseldorf-based EUROBIKE AG achieved a result in line with expectations. Sales increased by of 24.6 per cent to DEM 525.9 million (fiscal 1998/1999: DEM 422.2 million). At DEM 6.3 million, group results before income tax and minority interests were in line with the preliminary results announced on December 4, 2000. After income tax and minority interests, the group posted a net loss for the year of DEM 1.6 million (previous year: net profit of DEM 13.3 million). In the past fiscal year, EUROBIKE AG restructured its german wholesale operations to adapt them to the market development and to bring its results back to the level of the past years. In spite of the loss, the Management and Supervisory Board will therefore propose payment of a dividend of DEM 0.50 per share from EUROBIKE AGs retained earnings of approx. DEM 4.4 million at the companys Annual General Meeting on March 26, 2001. The EUROBIKE Group has successfully started into fiscal year 2000/2001. In the first three months, group sales increased by 20 per cent to DEM 89.1 million (same period of the previous year: DEM 74.2 million). The first quarter in each fiscal year is traditionally characterized by preparations for the new season. Related expenses resulted in a loss of DEM 10 million (Q1 1999/2000: DEM minus 4.4 million) which was approx. DEM 1.1 million below the internally budgeted loss. After completion of the restructuring measures, EUROBIKE AG expects full year results before tax and minority interests in the DEM 25 to 30 million range, bringing profitability to climb back to the EBT level of fiscal year 1998/99 (DEM 29.2 million). and reach DEM 25-30 million. ends End of Message