Group profit to substantially exceed previous year

Notice according to § 15 WpHG ( German Securities Trading Act)
Deutsche Beteiligungs AG, ISIN DE 000550810

Hörmann KG investment successfully exited

Deutsche Beteiligungs AG will close its 2003/2004 financial year, ended 31 October 2004, by posting a group profit substantially in excess of the previous year and will also outperform expectations. The Board of Management anticipates group earnings will exceed 15 million euros. Previous forecasts had expected group profits to at least equal last year's 3.1 million euros.

The improvement is primarily a result of the Company's profitable realisation of its investment in Hörmann GmbH & Co. Beteiligungs KG, Kirchseeon (Hörmann KG). Deutsche Beteiligungs AG has withdrawn as a partner from Hörmann KG in exchange for a compensatory payment. The transaction was conditionally contracted on 29 October 2004, i.e. in the previous financial year. As of today, the validity of the contract has become certain and the contract may be fully executed. Deutsche Beteiligungs AG will realise a sizeable capital gain from this transaction.

Deutsche Beteiligungs AG had held a minority interest of 28 percent in Hörmann GmbH & Co. Beteiligungs KG, Kirchseeon, as a limited partner since May 1997. With a book value of 13.75 million euros, Hörmann was the fifth largest investment in the portfolio of Deutsche Beteiligungs AG. The proceeds from the divestment consist of a cash component and a component in kind in the form of 500,000 shares of Funkwerk AG, Kölleda; Hörmann KG is the majority shareholder in Funkwerk AG, owning a 56.65 percent share. Deutsche Beteiligungs AG will now directly hold 6.3 percent of Funkwerk shares. Since its IPO in November 2000, Funkwerk AG has consistently exhibited positive progress; the company is TecDax-listed.

The Board of Management

Frankfurt am Main, 29 November 2004