Wild Bunch AG

Board/Management Information • Dec 22, 2008

News Details

Ad-hoc | 22 December 2008 10:56

Senator Entertainment AG: Senator streamlining management board, raising equity ratio to more than 40% and adjusting earnings forecast 2008 upward

SENATOR Entertainment AG / Change in Forecast/Restructure of Company

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

---

Senator streamlining management board, raising equity ratio to more than
40% and adjusting earnings forecast 2008 upward

Berlin, 22 December 2008 – Senator Entertainment AG (General Standard, ISIN
DE000A0BVUC6, Symbol: SMN1) has significantly reduced the company’s debt in
the course of restructuring measures.

Agreements between Senator and its banks mark the cornerstone of these
measures. In total, EUR 17.6 million in liabilities to a number of
institutes were repaid, reducing the company’s liabilities below EUR 7
million at year end. As a result of this measure, the equity ratio will
increase to in excess of 40%, which then returns the company to healthy
balance sheet ratios. This has secured the operating future of the group.

The second pillar of restructuring measures consists of modified cost
management as well as closer cooperation between Senator Group and two
partners. The company has already maintained close business ties to these
partners for quite some time. Senator successfully concluded a
co-acquisition agreement with its joint venture partner in Central Film
'Wild Bunch' and a license agreement for various films with its DVD
distribution partner UNIVERSUM FILM, an RTL Group company. Both steps have
positive cash effects which will already take hold in the 2008 financial
year and provide the company with additional funds, securing investments in
new films for Senator Group in 2009. As far as the financial year 2008 is
concerned, there are already clear signs that the results stated in the
original earnings forecast based on half-year figures are going to come in
much better than expected. The company is expecting to considerably reduce
losses of EUR 9.2 million posted for the first half year in its year end
numbers.

Member of the management board Dr. Christopher Borgmann is stepping down
from his position for personal reasons effective 22 December. In more than
eight years Dr. Borgmann served the company in a number of positions,
including as the CEO and more recently as COO for Legal Affairs, Licenses
and HR. He played a major role in developing the company. The supervisory
and management boards would like to thank Dr. Borgmann for his
contribution. Dr. Borgmann is returning to his previous profession as a
lawyer and will maintain ties to the company in an advisory capacity. The
position on the management board will not be filled again. The company is
now headed by CEO Helge Sasse alone.

Senator can list one more success which concerns numerous pending legal
actions claiming rescission of a variety of resolutions taken by the
compnay’s genreeal assembly over the last decade. The company agreed to a
comprehensive settlement with two main plaintiffs, Kinowelt GmbH as well as
Mr. Karl Walter Freitag and the companies’ he represents, ending a whole
row of proceedings either in part or in whole – some of which date back to
1998. Senator is also currently looking to end all proceedings with the
remaining plaintiffs once and for all.

End of ad hoc release

Please feel free to contact me if you have any questions:

Hillermann Consulting
Christian Hillermann
Investor Relations for Senator Entertainment AG
Tel.:+ 49 30 880 91 727
Fax:+ 49 30 880 91 723
E-mail: ir@senator.de
www.senator.de
22.12.2008 Financial News transmitted by DGAP

---

Language: English
Issuer: SENATOR Entertainment AG
Rankestr. 3
10789 Berlin
Deutschland
Phone: +49 (0)30 88-091-662
Fax: +49 (0)30 88-091-774
E-mail: investor@senator.de
Internet: www.senator.de
ISIN: DE000A0BVUC6
WKN: A0BVUC
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart

End of News DGAP News-Service

---