Quartalsergebnis: Konzernüberschuss 19 Millionen Euro – Net Asset Value steigt um rund einen Euro je Aktie

Notice according to § 15 WpHG (German Securities Trading Act)
Deutsche Beteiligungs AG, ISIN DE 000 5508105

Babcock Borsig Service GmbH divested

Deutsche Beteiligungs AG will post a profit of presumably more than 19 million euros in the first quarter of the 2004/2005 financial year, ended 31 January 2005. This will presumably result in an increase in the net asset value per share of about one euro. At 31 October 2004, the "fair value" per share had amounted 12.42 euros. As reported, the accounting of Deutsche Beteiligungs AG has been IFRS-formatted since the beginning of the current financial year (1 November 2004 to 31 October 2005).

In addition to an uptrend in the stock market prices for a number of quoted investments in the portfolio, the key factor for the positive development is that an agreement has been entered on the disinvestment of Babcock Borsig Service GmbH (Oberhausen). Deutsche Beteiligungs AG and its managed co-investment fund signed a contract this morning for the sale of Babcock Borsig Service GmbH to Bilfinger Berger AG. The agreed purchase price is significantly in excess of this investment's most recent valuation at 31 October 2004, based on the IFRS rules.

Deutsche Beteiligungs AG is currently preparing its interim report as at 31 January 2005. The quarterly result is, to a large extent, contingent upon the valuation of individual companies in the portfolio. The interim report at 31 January 2005 is scheduled to be presented on 17 March 2005.

The net asset value and changes to the net asset value are common indicators used internationally in assessing investment companies. The net asset value is derived by dividing the equity less minority interests by the number of shares. The "fair value" of the shares at 31 October 2004 was measured based on IFRS rules, but does not fully correspond to the net asset value: the "fair value" per share is the sum of the equity less minority interests plus the difference in the financial asset valuation as measured by the IFRS value and the book value in compliance with the German Commercial Code, divided by the number of shares.

The Board of Management
Frankfurt am Main, 9 March 2005