DGAP-Adhoc

Ultrasonic AG: Supervisory Board appoints new Management Board member

Ultrasonic AG / Key word(s): Change of Personnel

21.10.2014 16:46

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Ultrasonic AG: Supervisory Board appoints new Management Board member

- Supervisory Board appoints Dr. Harald Zender to the Management Board

- CFO Clifford Chan has stepped down

Cologne, 21 October 2014 - By resolution of the Supervisory Board,
Ultrasonic AG appointed Dr.-Ing. Harald Zender to the Management Board of
the company with effect from 27 October 2014. In addition to his
long-standing experience in the areas of private equity and management
consulting, Dr. Zender has extensive knowledge of the Asian market: As
interim manager at Kinghero AG, he has taken several measures to stabilize
the company and has gathered wide experience in cooperating with Chinese
authorities. Moreover, in the past he was a member of the Management Board
of RHI AG, the worldwide largest manufacturer of refractory products, and
in this context responsible for the Chinese market and the ASEAN countries.

As part of this decision and in consultation with the Supervisory Board,
the company's CFO, Chi Kwong Clifford Chan, is stepping down also with
effect from 27 October 2014. Mr. Chan originally intended to vacate his
post for personal reasons on 30 September 2014 but announced on 17
September that he was prepared to remain in his function as CFO for an
interim period to help clarify Ultrasonic's situation. The reason given for
his decision to step down now is that he has not obtained any further
information on the assets and operating business of the operating company
in China. Consequently, he is not able to make any further contribution to
clarifying the situation as he had hoped.

The Supervisory Board regrets Mr. Chan's decision and explicitly thanks him
for his work, especially in the past few difficult weeks, and for his
strong loyalty to the company. By appointing Dr. Zender the company remains
capable of acting and will continue its efforts to clarify the current
situation.


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Information and Explaination of the Issuer to this News:

About Ultrasonic

The Cologne-based company Ultrasonic AG is the German holding company of
the Chinese ULTRASONIC Group, an established manufacturer and supplier of