DGAP-Ad hoc: Kinowelt Medien AG <KNM> english - 500 Beiträge pro Seite

[ad_hoc [wO]]

DGAP-Ad hoc: Kinowelt Medien AG <KNM> english

Kinowelt Medien AG sells multiplex cinemas and majority share in ...

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement.

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Kinowelt Medien AG sells multiplex cinemas and majority share in DREFA Produktion und Lizenz - Outcome of negotiations with investors due in late April

Munich, 22.03.02: Kinowelt Medien AG has today sold off the Kinopolis multiplex chain. Kinowelt has also sold its majority holding in DREFA Produktion und Lizenz GmbH. In all cases it has been agreed not to disclose details of the purchase price.

Intensive talks are taking place with potential investors on a takeover of the core business. The complexity of the issues involved means, however, that at present a result is unlikely to emerge before the second half of April.

Attached please find the detailed press release which is also available on our website: http://www.kinowelt-medien-ag.de

Enquiries to: Kinowelt Medien AG, Corporate Communications & Investor Relations Tel.: + 49 89-30 796 7270, Fax: + 49 89-30 796 7330 e-mail: [e-mail]

end of ad-hoc-announcement (c)DGAP 22.03.2002

Issuer´s information/explanatory remarks concerning this ad-hoc-announcement:

Kinowelt Medien AG sells multiplex cinemas and majority share in DREFA Produktion und Lizenz - Outcome of negotiations with investors due in late April

Munich, 22.03.2002: Kinowelt Medien AG has today sold off the Kinopolis multiplex chain with immediate effect. The cinema chain, which operates multiplexes in ten different locations (Flensburg, Wilhelmshafen, Bad Oeynhausen, Paderborn, Bonn/Bad Godesberg, Freiberg, Sulzbach near Frankfurt, Aschaffenburg, Darmstadt and Viernheim) has been bought by a Frankfurt investment group. Kinowelt Medien AG also intends to completely relinquish its minority holding of 25.2 per cent in selected Village Roadshow multiplex cinemas by the end of March 2002. The move will mark Kinowelt´s complete withdrawal from cinema operations.

Kinowelt Medien AG has also sold its 51 per cent majority holding in DREFA Produktion und Lizenz GmbH, Leipzig, with retrospective effect from 1st January 2002. The company, which operates mainly in the field of TV production, has been acquired by DREFA Media Holding GmbH, an existing shareholder.

In all cases it has been agreed not to disclose details of the purchase price. These latest sales represent a further step in the current restructuring process at Kinowelt. The objective - now largely achieved - is to focus on Kinowelt´s core business (theatrical distribution, home entertainment and film rights).

Intensive talks are taking place with potential investors on a takeover of the core business. The complexity of the issues involved means, however, that at present a result is unlikely to emerge before the second half of April. "We could not - and still cannot - exclude the possibility of the ambitious timetable being subject to delay. The sole reason is the sheer complexity of the matters under negotiation - everyone concerned is working with great determination to achieve a satisfactory result," stressed Dr. Wolfgang Ott, provisional insolvency administrator of Kinowelt Medien AG and Kinowelt Lizenzverwertungs GmbH. "Day-to-day business operations at Kinowelt are running according to plan, and it will be possible to meet current liabilities, including wages and salaries, from the company´s own resources even after the end of March," added Dr. Ott.

The Executive Board and the provisional insolvency administrator are keeping creditor banks closely informed of current developments. All further steps are being taken in close collaboration with the banks, as the company´s main creditors.

Further progress has also been made in talks with the main licensors. The final results will depend on the outcome of the negotiations with potential investors.

Enquiries to: Kinowelt Medien AG, Corporate Communications & Investor Relations Tel.: + 49 89-30 796 7270, Fax: + 49 89-30 796 7330, e-mail: [e-mail] http://www.kinowelt-medien-ag.de

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WKN: 628590; ISIN: DE0006285901; Index: Listed: Geregelter Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart

Autor: DGAP import (),15:17 22.03.2002

[clever_broker]

and next one!

[TomSec]

ist euch langweilig oder was???

[AudiA4]

Ein wenig

[clever_broker]

neeeeeeeeeee!
langweilig niemals!
deswegen sind wir doch hier am posten!
zum infos holen sind wir auf jeden fall
nicht hier!

[Pedder]

Nein.Wir wollen schon mal probejubeln.
Probefeiern tue ich heute auch schon.

[clever_broker]

weihnachtsfeier oder was?