optic - optical technology investments AG

19 February 2003

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Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft (DEWB AG) has acquired around 84% of the shares of Zurich-based, listed investment firm optic - optical technology investments AG. Initially DEWB AG offered optic shareholders a premium of above 20.7% on the share value of optic stock from 11 October 2002, by dealing one optic share for 2.37 DEWB AG shares. However, after the offer was picked up slowly DEWB AG increased it during November 2002 to three DEWB AG shares for each optic share, a premium of 27.7%. By the end of November 2002 DEWB AG had acquired a two-thirds majority and reached in a prolongation period an equity stake of 84% in optic. The transaction was finally closed in January 2003. Following the transaction the free-float of DEWB AG has increased from 7% to 12% and has a value of EUR 9m.

Company

optic, founded in December 1998, is an investment firm with a focus on companies in the optical industry and its suppliers and invests in listed and unlisted targets. Currently the firm holds eleven investments throughout the world, including Applied Materials Inc, Jenoptik AG, Agilent Technologies Inc and Texas Instruments Inc. At the end of the third quarter 2002, ending 30 September 2002, the net asset value of optic reached SFr 52.28 per share, down from SFr 88.80 the previous year. Following the takeover optic will invest in information technology, medical technologies and optical technologies.

People

Sabine Ahlers and Bertram KÃ¶hler coordinated the transaction on behalf of DEWB AG. Sabine Ahlers is president and Dr Andreas Schulze member of the managing board. DEWB AG acts as asset manager for optic.