Grenke AG — AGM Information 2008

May 6, 2008

News Details

Corporate | 6 May 2008 16:22

GRENKELEASING AG: Annual General Meeting for financial year 2007

GRENKELEASING AG / AGM/EGM/Dividend

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.

---

• Proposed dividend of 0.60 euros per share accepted
• All items on the agenda endorsed

Baden-Baden, 6 May 2008: Roughly 250 shareholders attended the Annual
General Meeting of GRENKELEASING AG in the Kongresshaus in Baden-Baden
today. About 75 per cent of the Company’s common stock was represented.

The shareholders of GRENKELEASING AG accepted the resolutions proposed by
the Executive Board and the Supervisory Board by a large majority within
the framework of the ordinary annual general meeting of shareholders held
on 6 May 2008 in Baden-Baden. Formal approval of the actions of the
Executive Board and Supervisory Board in financial year 2007 was given. The
shareholders agreed to the proposed dividend increase and GRENKELEASING AG
will pay out a dividend of EUR 0.60 per share for financial year 2007
(previous year: EUR 0.55). The dividend will be paid out on 7 May 2008. The
total dividend amount comes to EUR 8.2 million. Of the net profit posted
for financial year 2007 amounting to EUR 50.5 million, the sum of EUR 42.3
million will be carried forward to new account for financial year 2008.

The Executive Board explained the Company’s strategy at the Annual General
Meeting. 'In fiscal 2007 we reached our goal of achieving net profit on par
with the prior year. For fiscal 2008, we are confident of our ability to
achieve our mediumterm growth target for new business of the GRENKE Group
including franchise partners of more than 10 % once again. As in the past
financial year, the primary growth drivers are our companies abroad, while
it is our objective to continue investing in profitable leasing-business in
our home market, Germany, in future.' says Wolfgang Grenke, Chairman of the
Company’s Executive Board in describing the plans for 2008.

'We also took over our franchise partners in the UK and in Poland, thus
completing a full development cycle in our franchise system for the first
time – from the formation of a company through a partner, to its
development by the partner, to our takeover of the company. This documents
the success of this system when it comes to quickly tapping into new
markets for GRENKELEASING.'

Further explanations: 'In view of the crisis on the financial markets, our
risk management system to secure our liquidity has shown its strength.
Adequate liquidity was available at all times. This is the result of our
stable earnings base, high profitability and the strong and fully
transparent balance sheet leading to the confirmed rating of BBB+ and a
stable outlook.

We are also very satisfied with the fact that the Group’s liquidity once
again improved considerably in the first quarter of 2008 even though the
capital markets have been afflicted by uncertainties. We were able to
increase the volume of our various refinancing instruments, which we have
steadily built up over the last few years, and raise the overall available
volume by EUR 213 million. This provides us with sufficient funds for sound
financing of our growing new business.

So far, we have managed to pass on the moderately higher refinancing costs
due to the subprime crisis in full to the market, and we believe we’ll also
be able to do so in future.' said Dr. Uwe Hack, Deputy Chairman of the
Executive Board of GRENKELEASING AG.

At the Annual General Meeting, Prof. Dr. Ernst-Moritz Lipp and Mr. Gerhard
E. Witt were reelected. The term of office of the elected Supervisory
Board members will end at the Annual General Meeting in 2012.

The Executive Board was delighted with the course of the event. The company
had also invited numerous pupils from the region to the AGM including the
winners of the Stock-Exchange Simulation Game staged by the Sparkasse bank
in Baden-Baden, 2 economics classes of the Robert-Schumann school and
pupils of the Pädagogium in Baden-Baden.

About the GRENKELEASING Group

The GRENKE Group (incl. franchise partners) now operates in nineteen
European countries.

The GRENKELEASING AG Group (excluding franchise partners) is represented in
20 German cities. In addition to eight branches in France, three in
Switzerland and two in Italy, the enterprise operates with subsidiaries in
Austria, Czechia, Spain, the Netherlands, Denmark, Sweden, Ireland, United
Kingdom, Poland and Belgium.

In the Norway, Hungary, Romania, Spain (Madrid), Portugal and Slovakia as
well as in Germany in the field of car leasing and factoring, GRENKELEASING
has a franchise system in place.

GRENKELEASING offers contracts predominantly in the field of small-ticket
IT leasing for such products as PCs, notebooks, copiers, printers or
software of a relatively low asset value.

GRENKELEASING AG shares are listed at Frankfurt Stock Exchange (SDAX) with
the code GLJ, ISIN DE0005865901.

Information on the company and its products is available on the Internet
under http://www.grenke.de.

Press Officer

GRENKELEASING AG, Neuer Markt 2, D-76532 Baden-Baden
Renate Hauss
Tel.: 0049-7221/5007-204
Fax: 0049-7221/5007-112
Email: investor@grenke.de
Internet: http://www.grenke.de

06.05.2008 Financial News transmitted by DGAP

Language: English
Issuer: GRENKELEASING AG
Neuer Markt 2
76532 Baden-Baden
Deutschland
Phone: +49 (0)7221 50 07-204
Fax: +49 (0)7221 50 07-112
E-mail: investor@grenke.de
Internet: www.grenke.de
ISIN: DE0005865901
WKN: 586590
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Düsseldorf, Hamburg

End of News DGAP News-Service

---