HanseYachts AG

M&A Activity • Nov 14, 2007

News Details

Corporate | 14 November 2007 12:13

Fjord Boats Completely Taken OverHanseYachts AG:

HanseYachts AG / Acquisition

Announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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PRESS RELEASE

Fjord Boats Completely Taken Over

Greifswald, 12 November 2007 - The HanseYachts Group has completely taken
over Fjord Boats, a Norwegian motorboat manufacturer, and now holds 100
percent of the shares in Fjord Boats AS.

Following the acquisition of a 51-percent participation in the Norwegian
enterprise, motorboats have been developed and produced in the HanseYachts
Group since March 2006. The Fjord 40 Open, the first motor yacht model
developed at HanseYachts, was introduced at the boat fair in Düsseldorf in
January 2007. 'We have been developing the motor yachts marketed under the
Fjord brand into a second mainstay of our Group,' said Michael Schmidt,
founder and CEO of HanseYachts.

In July 2007 HanseYachts exercised its option to acquire the remaining
shares (49 percent) in Fjord Boats AS held by Mornor AS, via its wholly
owned subsidiary, Yachtzentrum Greifswald participations GmbH. The sale
price, about which strict silence has been maintained by mutual agreement,
is oriented on the market price and was determined by an auditing firm.

The former managing director, Morten Nordvold, has resigned his position as
CEO at Fjord Boats AS. Daily business is currently being coordinated by
Jens Ahrens, in addition to his position as brand manager at Fjord and
Moody. Jens Ahrens will soon be officially named the new Managing Director
at Fjord Boats AS.

About HanseYachts AG:

HanseYachts is one of the fastest growing yacht producers in Europe.
Sailing yachts are currently being built that range from 10 meters to 19.2
meters (32 ft to 63 ft). HanseYachts also produces motor yachts under the
Fjord Boats AS brand. Moreover, England’s Moody brand, which is known for
its high-quality sailing yachts, has belonged to the HanseYachts Group
since March 2007. HanseYachts AG has also been publicly listed on the
General Standard of the Frankfurt Stock Exchange since March 2007. In
fiscal year 2006/07 (ended on 31/07/2007) sales were EUR 105.2 million (EUR
66.3 million last year). A total of 850 yachts were produced in fiscal year
2006/07 (585 yachts last year). In the HanseYachts Group, there were 423
employees at the end of fiscal year 2006/07.

International Securities Identification Number (ISIN): DE000A0KF6M8

Securities code number (SCN): A0KF6M

Common Code: 028245980

Stock Market Abbreviation: H9Y

www.hanseyachts.com

www.fjordboats.com

www.moodyboats.com

HanseYachts AG │ Dörthe Schmeinck │ Presse / Investor
Relations
Postfach 3165 │ D-17461 Greifswald
T +49 (0) 3834 - 579236 │F +49 (0) 03834 579283 │ E
dschmeinck@hanseyachts.com

14.11.2007 Financial News transmitted by DGAP

Language: English
Issuer: HanseYachts AG
Salinenstr. 22
17489 Greifswald
Deutschland
Phone: +49 (0)3834-5792-0
Fax: +49 (0)3834-5792-30
E-mail: zentrale@hanseyachts.com
Internet: www.hanseyachts.com
ISIN: DE000A0KF6M8
WKN: A0KF6M
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart

End of News DGAP News-Service

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