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Legal Proceedings Report • Mar 22, 2006

News Details

Corporate | 22 March 2006 08:15

ARQUES Industries AG: FREP and ARQUES settle dispute

Corporate-news transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— FREP and ARQUES settle dispute March 22, 2006 – In a friendly and relaxed atmosphere a high-level conference was held in Berlin on Monday, 20 March, 2006 between the president of the FREP (Financial Reporting Enforcement Panel) Professor Dr. Eberhard Scheffler and the chairman of the board of ARQUES Industries AG, Dr. Dr. Peter Löw, in order to amicably settle differences of opinion. Following was established: 1. ARQUES continues to accept the findings concerning the ARQUES financial statements as of December 31, 2004 determined by the FREP in their audit. Therefore the BAFIN ruling is binding for both parties. 2. In the above mentioned financial statements the principles of bargain purchase accounting were appropriately adhered to by ARQUES. No further aspect in the 2004 financial was determined by the FREP. The parties will not take part in public evaluations and speculations in this context. ‘We regard the published ruling of the BAFIN as final’, say Professor Dr. Scheffler and Dr. Dr. Löw. Thereafter general aspects regarding IFRS practice were discussed. In this respect a more concentrated exchange of views was agreed upon for the future. On April 27, 2006 Professor Dr. Scheffler and ARQUES CFO Dr. Vorderwülbecke as well as other speakers will answer questions in connection with the Enforcement procedure at a conference of the Schmalenbach-Gesellschaft. About ARQUES ARQUES Industries AG, Starnberg, is a turnaround specialist who focuses on the acquisition and the active restructuring of companies in transitional situations, in order to develop these, with its own team and own resources, to competitive enterprises with a positive yield. ARQUES revitalises its subsidiaries’ potential for creating value for the benefit of all its stakeholders, taking on the relevant social responsibility. ARQUES has made a duty of identifying underestimated companies with reduced survivability but with high appreciation potential, at the same time mastering complex company structures and transitional situations. The shares of ARQUES Industries AG are traded in the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the symbol ‘AQU’ (ISIN: DE0005156004) and are listed in the SDAX since September 19, 2005. Contact: ARQUES Industries AG Investor Relations & Corporate Communication Anke Lüdemann, CEFA/CIIA Tel.: +49 (0) 8151/ 651 0 Email: luedemann@arques.de (c)DGAP 22.03.2006 ————————————————————————— language: English emitter: ARQUES Industries AG Münchner Str. 15a 82319 Starnberg Deutschland phone: +49 (0)8151 651-0 fax: +49 (0)8151 651- 500 email: info@arques.de WWW: www.arques.de ISIN: DE0005156004 WKN: 515600 indexes: SDAX stockmarkets: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, München, Stuttgart End of News DGAP News-Service —————————————————————————