Consors Discount-Broker AG
Ad hoc-Service: ConSors Discount-Broker english

Ad hoc announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Consors: – Income slackens in adverse market environment 2.5 million trades executed and 29,000 new customers acquired Fit for Future program to increase efficiency and lower costs Consors records a negative quarterly result due to a consistently bad market environment. Consors has developed an efficiency-enhancement program designed to realize savings during the current year of at least 15% of the budget for 2001, i.e.ca. euro 30 million. Consors is the first discount broker to react proactively to the continuing flat market. The Consors Group experienced slack trade and customer development in the first quarter of 2001. Despite the negative stock market trend, assets under custody recorded a gratifying level of euro 8.2 billion. Consors Funds Market also developed positively. The investment funds volume reached euro 886 million on March 31, 2001 after euro 868 million at the end of first quarter 2000. Consors recorded 2.5 million trades in first quarter 2001 and reached 75% of the approximately 3.3 million trades during the same period last year. The Consors Group won a total of 29,000 new customers. Around 15,000 accounts were closed through the same period. These were primarily inactive accounts opened in the boom phase of first quarter 2000. This is a net increase across the Group of 14,000 to 540,000 customers and is 44% over the first quarter 2000 which closed with 376,000 customers. As expected, first quarter 2001 tended to be rather weak from Consors’ point of view. The consolidated total operating income was euro 56.4 million, i.e. 20% under the comparable period’s result in 2000. This figure includes net commission income of euro 42.1 million. Further expansion of the Group resulted in a rise in total non-interest expenses to euro 80.6 million as against euro 60.7 million in the first quarter of 2000. Marketing expenses decreased to euro 11.1 million. This item is reduced by almost 50% when compared with the amount of euro 19.7 million used in the first three months of the previous year. Income after tax and results attributable to non-Group shareholders amounted to euro -15.6 million. This corresponds to a loss per share of euro 0.33. Income of euro -0.6 million from brokerage business in Germany is comparatively stable considering dividend income of euro 5.1 million. end of ad hoc announcement (c) DGAP 15.05.2001 ——————————————————————————– WKN: 542700; Index: NEMAX 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 150825 Mai 01