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GAP Takes the Offensive after Averted Raiding Attempt Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Oberhaching, 20.12.2002. After having successfully averted a raiding attempt – the media have reported – , GAP AG, Oberhaching, now sets about emphatically to realize the business model optimized before. In order to compensate the damage in sales inflicted by the time loss of several weeks, the executive board which was appointed anew has decided a sales offensive. Thus, the telematics and telemetrics company expects a clear increase in order entry and a lasting reemergence of the interrupted sales increase for the second half of the current FY 2002/2003 ending on June 30, 2003. Due to a preliminary injunction reached in court, the company, which is financed solidly on a long-term basis, was able to remove the executive board and to limit the drain of means to EUR 3 mn. Since the money has gone to a notary trust account and is, therefore, out of the raiders reach, GAP AG is confident to get back the full sum. Presently, the company has a cash position of EUR 5,5 mn. The receivables amount to more than EUR 2 mn. GAP AG has no liabilities worth mentioning. The full turn-around program encompasses a stringent cost saving and restructuring program being developed by the executive and advisory boards together. The program will be presented in the next weeks. In case the catching-up process starting immediately can be competed successfully, the company expects to reach again the sales volume of FY 2001/2002 of EUR 8,6 mn. at least. Without the special influences of the raiding attempt, the profit will exceed last year’s result of EUR -3,7 mn. The executive as well as the advisory board are confident to be able to reach a positive EBIT and a positive cash flow in FY 2003/2004. end of ad-hoc-announcement (c)DGAP 20.12.2002 ——————————————————————————– WKN: 580150; ISIN: DE0005801500; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München und Stuttgart 201046 Dez 02