Shareholders’ meeting of adesso AG approves merger with BOV AG

Dortmund, 17 July 2006– Last Friday the shareholders’ meeting of the adesso AG, Dortmund, has unanimously approved the merger of the company with BOV AG, Essen. The shareholders of BOV AG will vote on this in the context of an ordinary shareholders’ meeting on July 25. In case of approval the merger of the two IT service providers comes into force after being entered in the Commercial Register.

After implementing the merger with the quoted BOV AG, a joint turnover of approximately 37m € is expected for 2006, including the subsidiaries. The number of staff in the group increases due to the merger to 350 while new recruitments are planned as well. The new company trading under the name “adesso AG”, sees itself in a good starting position for growing further in a mainly consolidated IT market. The merger contract stipulates to keep the company name “adesso AG” as well as the legal domicile Dortmund for future joint business activities.

With seven locations in Germany and in Switzerland, 350 employees and a joint turnover of about 37m € for the year 2006 the new company is well positioned to appear on the market for IT services with more prominence and to provide additional offers for large-scale software projects. In 2005 adesso AG, which is not yet quoted on the stock exchange, experienced its best fiscal year since the foundation of the company with an increase in turnover of more than 30 percent. The merger with BOV is intended, among other things, to gain access to the capital market in order to further support its growth policy. Expanding the branch and technology know-how as well as the market access to European countries are rated as additional factors of success.