DGAP-Adhoc

DF Deutsche Forfait AG announces details of the financial restructuring concept - Seite 2

proposed restructuring concept essentially consists of four components:

1. Debt-to-equity swap through capital increase I

In a first step, the Board of Management will make an offer to all holders
of the corporate bond 2013/2020 to exchange their EUR 1,000 bonds against
cash or against shares of the company in the context of a capital increase
from authorised capital by up to EUR 3,400,000 through the issue of up to
3,400,000 new shares (par value: EUR 1.00) ("capital increase I"). The
conversion ratio of the EUR 1,000 bonds against shares, based on an
appraisal by Ebner Stolz Wirtschaftsprüfer, is expected to be announced
before the end of December together with the publication of the offer
following the bondholders meeting voting on this offer. Bondholders will
then be given the opportunity to submit their bonds for exchange via their
custodian bank.

2. Interest rate reduction and consideration yet to be specified

The Board of Management additionally proposes to its bondholders to decide
on the reduction of the nominal interest rate of the corporate bond
2013/2020 from 7.785% p.a. to 2.0% p.a. retroactively from May 2014 up to
their maturity on 27 May 2020. In return, the Board of Management offers
bondholders the possibility to exchange their conditional interest waiver
against a consideration yet to be specified as an alternative to the
debt-to-equity-swap (see 1. above); bondholder who hold a larger number of
bonds, demanding in return the purchase of shares. The details of this
exchange offer are still being elaborated and will be announced shortly.
The bondholders meeting voting on this offer is to be held before the end
of December 2014/ January 2015.

3. Capital increase II

The Board of Management will propose to the ordinary Annual General Meeting
to pass a resolution on a cash capital increase by up to EUR 6,800,000
through the issue of 6,800,000 new shares (par value: EUR 1.00) with
pre-emption rights for shareholders ("capital increase II"). The Annual
General Meeting is currently scheduled for 15 January 2015. Capital
increase II would then be implemented in March/April 2015.

4. Interest rate cut by lending banks

Moreover, the lending banks of DF Deutsche Forfait AG have expressed their
general readiness to renew the credit lines in the amount granted prior to
the OFAC listing until 31 December 2016 on the condition that the other
restructuring measures are implemented. This also includes banks' readiness
to temporarily reduce interest rates to 1% p.a. in order to assist in