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Jenoptik Group increases net income for the 1999 financial year by around 40%

Record order intake in 1999 in the Clean Systems and Photonics business divisions. Asset Management business division successfully positioned in venture capital business. Loss makers consistently disposed of. Continued substantial improvement in results in the year 2000.

The Jenoptik technology group has reported a marked improvement in its revenue in the 1999 financial year. According to preliminary calculations, the Group's net income will exceed the previous year's figure of DM 43.3 million (EUR 22.1 million) by around 40%. The Group's turnover is expected to be DM 2.7 billion (EUR 1.38 billion). The fact that the figure is lower than the 1998 financial year is due to the de-consolidation of subsidiaries as part of the Group's reorganization.

The Jenoptik Group reported a record order intake in the 1999 financial year. At around DM 3 billion (EUR 1.53 billion), the order intake on a comparable basis was around 60% higher than in 1998 (DM 1.817 billion/EUR 929 million).

The Jenoptik Group will continue to improve its results markedly in the 2000 financial year. On the basis of 1999, the net income in the current financial year should increase by around 30-40%. The final figures for the 1999 financial year will be announced by Jenoptik at its annual accounts press conference on 18 April 2000.

Loss makers consistently disposed of.

According to the statements of Dr. Späth, Chairman of the board, the board had been to consistently dispose of all loss makers within the Group within six months and the Group reorganisation had been successfully completed. The fact that the efforts to reorganize the Group have already paid off can be demonstrated by the interim figures. Two further reasons for the positive earnings position: the operating result in the business divisions has clearly improved and the Jenoptik-Holding costs have been strongly reduced.

Record order intake in Clean Systems business division.

1999 was a very successful year for the Clean Systems business division and its lead company, M+W Zander. Earnings before interest and tax (EBIT) and sales will be around the level of the previous year and are connected with the successes of the previous year. After the end of the semiconductor and Asian crisis,
the business division reported a record order intake to the value of more than DM 2 billion in 1999. In comparison with 1998, when the value of new orders on a comparable basis was DM 1.193 billion (EUR 610 million), this is an increase of 70%.

Photonics business division continues to grow.

In 1999, the Photonics business division will report new record figures in earnings before interest and tax (EBIT), sales and order intake. In percentage terms, the EBIT of the Jena subsidiary, Jenoptik Laser, Optik, Systeme (Electro-Optics business field) showed the highest growth. The Jenoptik Group also reported a record order intake in the Photonics business division. At more than DM 450 million (EUR 230 million),this figure was around 25% higher than in 1998 (DM 362.5 million/EUR 185.4 million).

Asset Management business division successfully positioned as venture capital operation.

In the course of 1999, Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG (DEWB) was able to successfully position itself as a venture capital company. DEWB floated three companies, I-D Media AG, a high-growth Internet company, TePla AG, a leading manufacturer of industrial plasma plants, and Jena-based CyBio AG, a high-growth biotechnology company for identifying active substances, on the Neuer Markt of the stock exchange in Frankfurt. All three flotations went well. The current share price of all three companies is noticeably higher than the issue price and the initial quotation.

Jenoptik Group enters 2000 financial year without burdens.

From the view of the Jenoptik Group, the starting point for the current year is excellent. "After its restructuring, Jenoptik is able to enter 2000 without burdens. Our markets are showing excellent growth opportunities and all three business divisions, Clean Systems, Photonics and Asset Management, will continue to grow dynamically", said Späth, Chairman of the board.