13.01.2004

Changes in the Board of Management

Helmut Irle, member of the Board of Management of Deutsche Beteiligungs AG, will be leaving the Board of Management of Deutsche Beteiligungs AG on the best of terms and by mutual agreement on January 31, 2004.

Effective January 1, 2004, the Supervisory Board of Deutsche Beteiligungs AG has appointed André Mangin (49) and Dr. Rolf Scheffels (37) to the Board of Management. Both new Board members have been serving as senior vice presidents of Deutsche Beteiligungs AG.

Frankfurt am Main, January 14, 2004.

The Board of Management